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BRIEF-Organovo says preliminary Q2 revenue $1.3 mln - $1.4 mln
October 4, 2017 / 9:18 PM / 19 days ago

BRIEF-Organovo says preliminary Q2 revenue $1.3 mln - $1.4 mln

Oct 4 (Reuters) - Organovo Holdings Inc

* Organovo announces preliminary fiscal second-quarter total revenue; company restructures to improve operational efficiency

* Sees Q2 revenue $1.3 million to $1.4 million

* Announced a restructuring plan to improve operational efficiency​

* Organovo announced a plan to restructure its business to better focus and align resources, reducing approximately 15 positions​

* Expects workforce reduction will decrease operating costs by $1.3 million in fiscal 2018 and $2.7 million in fiscal 2019​

* Actions associated with restructuring are anticipated to be complete by end of calendar-year 2017​

* Reduction in future operating expenses is expected to “improve” company’s fiscal 2018 negative adjusted EBITDA​ Source text for Eikon: Further company coverage:

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