This Biotech Stock Ripped Following Program Acquisition Announcement

By: Tomas Ronolski - AllPennyStocks.com News

Tuesday, February 25, 2025

A California-based biotech company is finding a tremendous amount of success on Tuesday after the company announced that Eli Lilly is set to acquire its FXR program including FXR314.

Traders wasted no time at all as they snatched up shares of Organovo Holdings Inc. (Nasdaq:ONVO), pushing the micro cap up to $1.83/share (+395.93%) at the early session high. This move was a massive breakout from the multi-month downtrend this stock has been experiencing since summer.

Organovo Holdings Inc is a biotechnology company, which designs and creates functional and three-dimensional human tissues for medical research and therapeutic applications. It also develops and commercializes a platform technology for the generation of three-dimensional human tissues that can be employed in drug discovery and development, biological research, and as therapeutic implants for the treatment of damaged or degenerating tissues and organs. The company collaborates with pharmaceutical and academic partners to develop human biological disease models in three dimensions. Organovo's key instrument platform is the NovoGen Bioprinter. The firm's 3-D bioprinting technologies create tissues using living cells and biocompatible hydrogels.

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