Organovo affirms 2018 revenue outlook $6.0M-$8.5M, consensus $7M
The company said, "We're tracking to our plan through the first quarter of fiscal 2018, delivering total revenue that was in-line with our outlook and affirming our guidance across the board. We continued to see a healthy balance of new sales and repeat business during the period, with nearly 70% of orders for tissue research services coming from existing clients as we more deeply engage our customers. Demand for compound screening in disease models is growing, with new applications frequently emerging as clients seek novel solutions in their drug discovery workflow. Beyond recognized areas such as liver fibrosis and non-alcoholic steatohepatitis ("NASH"), recent exploratory applications include Hepatitis B and RNA therapeutics. These are all good leading indicators of broader adoption as we seek to move customers to routine use of our solutions."