While the overall markets have seen mixed results thus far in 2013, one company has started the year off on a tear. After opening the New Year at a share price of $2.36, Organovo Holdings, Inc. (NYSEMKT:ONVO) has seen tremendous growth in the early trading days of the year. After hitting an intra-week high of $3.99 ONVO reversed slightly and now appears to have settled around 3.20, up nearly 36 percent from the start of the New Year.
The San Diego based company designs and develops functional human tissues using their own proprietary three-dimensional bio-printing technology. ONVO is the developer of the NovoGen MMX Bioprinter™, the world's only commercial Bioprinter proven to create tissue. Their proprietary technology employs a specified automated platform that works across all tissue and cell types. They are the first company in the world to possess such technology and in recognition; Organovo's bio-printer was named one of the "Best Inventions of 2010" by TIME Magazine.
A key component to management's business strategy has been the development of strategic partnerships and relationships to further develop their 3D Bioprinting technology and discover new potential uses for the cellular structures and tissues that they can produce. Organovo's aim is to leverage the technology of the NovoGen MMX Bioprinter, and form strategic alliances that generate revenues and further push the bounds of the technology.
They have longstanding partnerships with Pfizer (NYSE:PFE) and United Therapeutics (NASDAQ:UTHR), and recently partnered with researchers at Autodesk Inc. (NASDAQ:ADSK), the leader in cloud-based design and engineering software, to create the first 3D Design Software for Bioprinting. The software, which will be used to control Organovo's NovoGen MMX Bioprinter, will represent a major step forward in usability and functionality for designing three-dimensional human tissues, and has the potential to open up Bioprinting to a broader group of users.
Through these partnerships Organovo has discovered multiple uses for their Bioprinting technology and have begun to garner a significant amount of investor interest. Over the last two quarters of 2012, Organovo saw a steady rise in volume as investors were drawn to their story, and it became clear that the printing of organs and other tissue will soon be possible.
The increased trading volume for Organovo Holdings, Inc. has continued into the beginning of 2013 as investors recognize the potential for both strong short and long term growth. Institutional investment should increase significantly as their volume continues to increase. Additionally they have added a 7.66 Million in new capital through the execution of warrants, which will strengthen their balance sheet going into the New Year. Organovo is a company to keep on your radar in 2013 as they continue to lead in the development of 3D Bioprinting Technology.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.