From OTC pink sheet to the NYSE, Organovo (NASDAQ:ONVO) is moving in all the right directions.
According to PRNewswire via COMTEX, Organovo is joining the ranks of the NYSE on the 11th of July, 2013. With recent announcement of successful testing and replication of viable hepatic (liver) cells, and now this, the NYSE listing, they are poised to pop. As of today, July 9th 2013, ONVO has jumped 67cents to $4.57.
The goal? $5 / share. This is a critical number as this is the bottom threshold of where many small cap industry standard mutual funds are allowed to buy in.
Cash flow will be great when more pharmaceutical companies gain access to 'test ready' hepatic cells for their drug tests, saving the pharm companies money and limiting their liability. Anyone who doesn't see this isn't looking.
Add to this that hepatic cells are only the first step in the business model. Potential future designs can be, but not limited, to lungs, pancreas, and even the heart.
Disclaimer, I have positions in ONVO. With this news, why wouldn't I?