I re-read the Fiscal Q1 2017 results transcript. Cash on hand end of Q1 was 53.5MM, with burn rate of 8.6MM per quarter (that was burn rate FQ1 ending June 30, 2016. Deduct 8.6MM for Q2 and that brings you to $45MM now, plus the cash raise of $25 less expenses of the offering, that brings you to $70MM which is two years, yes 2 years of cash runway out front. Shorts had better covered, there is nothing left for them to fleece, today was it.
Almost 10MM shares traded today, huge accumulation for every share shed in fear, all were gratefully absorbed by new investors who LOVE this company's future. Buying of late has been tentative, two days ago the 1MM share day when we dropped to 3.54, that was inside knowledge of the offering being leaked, and we thought it was shorts. That explains the Company's release yesterday and again today, they had to rush in and announce their intentions, somebody leaded it was coming.
Now I see rapid escalation or recovery of our share price. We closed .21 above the announced offering price, shows great confidence for the future. Longs who have remained loyal can now look to better days, months, and for the patient, years ahead.
Sentiment: Strong Buy
what exactly did your "no" address, because we are trading below $3 now at $2.94? Did you think we'd stay above $3 after yesterday's bomb drop? If you're going to post a reply rebuttal, show your thoughts in full rather than 'no' and add your reasoning next time. Thanks.
Last few days at 4.15? I don't think so, check your chart. I just did, here's the tally: Day Date Open High Low Close Volume
=== ========== ========== ========== ========== ========== ===========
Wed 10-19-2016 3.50 3.55 3.46 3.49 844550
Tue 10-18-2016 3.66 3.70 3.50 3.53 989363
Mon 10-17-2016 3.74 3.76 3.62 3.64 952136
Fri 10-14-2016 3.81 3.87 3.74 3.76 577141
Thu 10-13-2016 3.81 3.87 3.75 3.78 438269
Wed 10-12-2016 3.92 3.98 3.79 3.83 414866
Tue 10-11-2016 3.98 4.00 3.84 3.93 1314276
Mon 10-10-2016 3.76 3.88 3.76 3.81 586355
Fri 10-07-2016 3.92 3.96 3.70 3.71 1101791
Thu 10-06-2016 4.11 4.11 3.89 3.91 881152
First of all, sorry for your option strategy being obliterated by this if so. Secondly, there are no details and I see management looking at our falling stock price and thinking, OMG, we blew it by not raising two months ago, and now everyday our share price is falling, we have to get on with the cash raise NOW! Makes me crazy this kind of poor timing. YES, they blew it, now they're chasing the money before their window gets smaller. Thirdly, how does this suggest "that business is quite brisk and/or the therapeutic tissue is compelling"? You lost me there. Upset yes I am, all this has done is go down against my basis since first investing. Now in at average 4.57. This will likely settle around $3 or less.
SAN DIEGO, Oct. 19, 2016 (GLOBE NEWSWIRE) -- Organovo Holdings, Inc. (NASDAQ:ONVO) (“Organovo”), a three-dimensional biology company focused on delivering scientific and medical breakthroughs using its 3D bioprinting technology, today announced that it has commenced an underwritten public offering of its common stock. The offering is subject to market and other conditions, and there can be no assurance as to the completion, size and terms of the offering.
Jefferies LLC and Evercore ISI are acting as joint book-running managers for the offering. Raymond James & Associates, Inc. is acting as lead manager, and BTIG is acting as co-manager.
The shares described above will be offered pursuant to a shelf registration statement on Form S-3 previously filed with and declared effective by the Securities and Exchange Commission ("SEC"). Organovo intends to file a preliminary prospectus supplement relating to the offering with the SEC, which will be available, along with the accompanying prospectus filed with the SEC in connection with the shelf registration, on the SEC's website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus may also be obtained by sending a request to: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 12th Floor, New York, New York 10022, by telephone at 877-547-6340, or by email at Prospectus_Department@Jefferies.com; or Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, NY 10055 or by email at email@example.com.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Organovo, nor shall there be any sale of securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This press release is being issued pursuant to and in accordance with Rule 134 under the Securities Act of 1933, as amended.
Today's trading is different, few shares offered, no bombs being dropped on the bid, lower volume so far. I would tend to agree, we're flat now. I've been saying support was in the 3.46-3.48 range. We traded ever so briefly at 3.48, I just missed getting a fill there. Shorts had a goal of dropping it to 3.50, now they should cover but I'm not going to bet on it. GLAL.
You say "who's selling?" Shorts are dropping the block 'bombs" on the market, that's their game, they are either naked shorts or borrowed shares, not a large (long) position selling, if a tute wanted out they could arrange to sell their large position at the close through a broker handling such a block sale and it wouldn't affect the share price like what is happening day to day for the last months, with these blocks shorts are 'designing to size' deliberately just larger than whatever is on the bid.
If you don't yet understand, you need to do more research on what short selling tactics are, so you aren't unknowingly fleeced by Wall Street. There is always an end to these short attacks, and I think we're close. I see support technically at 3.46-3.48 and we're almost there. If they bust through that, I will re-evaluate but we're getting awfully close to our next earnings call, and the Company may drop some unsuspecting shorts a flurry of good news. We could be a takeover target for all this Company has in store for the future.
Nothing wrong with dreaming big, the future is now, and next year is almost here. The market hasn't figured it out yet. Cheap shares just got cheaper. Any thoughts when we'll get back over $5.00?
The consensus opinion is the trial will continue and DSMB will remain mute on any insight into effectiveness. Milby and CSO are on record as saying Q4 interim look is all about SAFETY. Hope you're right on your Q4 targets. Where did our volume go?
Pearsby08, come over to check out the message board on InvestorVillage.com. You will find it highly attended and active, much better forum than here, more frequent current exchanges by lots of well informed investors. I migrated there after YMB changed it's forum over.
Do the bosses read messages here? Nice cogent appeal, would like to see them respond by doing as you ask, but seriously doubt they will pay heed, meanwhile the slow bleed. I made my first add yesterday at 3.79 as we are at support now in a rising channel, but that rising channel is on the cusp of being broken should we close lower than $3.75 on the daily chart. It has held marvelouly well so many times since early July, in August, and now in late September. GO LONG here shorts, hold the line LONGS, if you were going to add, now is the time to ladel in some cash. More cheers.
Mitch, thanks for the wave and kind remarks. I like our chances here. I am in fairly large and low at 1.86 and last week we bottomed IMHO. To partake in a very active discussion, come visit us at InvestorVillage, this message board is dead and gone. I see $4-$5.00 this year as we approach interim data readout in Q4, and yes, 2 phase 3's. CEO Milby just exercised options on 150,000 shares last week on Wednesday, see Form 4's.