How could we know that there HAVEN'T been some big dogs sniffing around... ? I choose to view the immediate secondary offering, though considered by some to be a cheap sellout at the time, as in fact part of a longer term plan to fill an instant (and much needed) reservoir of cash for ONVO to draw upon and allow management to rebuff low-ball buyout offers, thus giving R&D staff time to scale up to profitable products... and achieve a MUCH greater future valuation?? If buyout talks get serious, I hope that happens in two or three years, minimum.
I think Pfizer missed the boat here. 3 years ago they knew what this tech could produce, its why they put out 600K to get this from a scientific idea to a test run. They probably have their evaluation near to or completed and said we now need it to be structurally viable for over the industry requirement of 30 days before a serious discussion on integration into the standard procedures for toxicology could continue. Meanwhile, that's exactly what Organovo did, took the money and built the first test products while securing ownership of the proprietary discoveries. They then continued on towards 40 day validation with their own money from a well received secondary offering. Now Roche is knocking on the door and you had your chance.
No buyout, to many things point to them wanting the science to live.
yep - simply prudent cash management biased the way it should be - for long term shareholders. The stock option plans are geared toward the insiders building a company with superior products, partnerships and real value...and KISMET - that's what they're doing :-)