Shares for Organovo Holdings Inc. spiked 26 percent after the company announced it has been approved to list its shares on the New York Stock Exchange beginning July 11.
The San Diego company is developing three-dimensional bioprinting technology that can build functional human tissues for medical research and therapeutic applications.
Shares were trading at $4.92 on July 9 at market close, up from $3.90 the previous day.
The company will continue to trade under the ticker symbol ONVO, but will withdraw its shares from listing on the OTC QX market.
“Trading on the New York Stock Exchange is an important milestone for Organovo and will be valuable to our business and shareholders. Our decision to move to the NYSE MKT was based on a firm belief that the exchange offers the best set of conditions for Organovo’s success, and thus, the best opportunity to add value for our shareholders,” Keith Murphy, president and CEO of Organovo, said in a statement.
— SDBJ Staff Report