SAN DIEGO, Aug. 14, 2013 /PRNewswire/ -- Organovo
Holdings, Inc. (NYSE MKT: ONVO), a biotechnology company
focused on delivering breakthrough three-dimensional (3D)
bioprinting technology, today issued a caution to investors
regarding content on certain internet sites targeting existing and
potential investors in its common stock.
Organovo and many other innovative technology companies have
been the subject of various articles on certain investor websites
that contain significant factual errors. The content on these
sites can be submitted by independent authors and do not represent
a cohesive view or the opinion of the site overall. In fact,
these sites do little or no fact checking, provide little to no
editorial oversight, and provide limited or no mechanisms for
correction of factual errors. The company would like to help
investors judge content on such sites appropriately, and point out
the risks of encountering false information.
The Company would like to stress that in providing information
in regards to such sites to investors, it is not claiming that all
articles with a negative connotation are false. The Company
respects the right of all investors and commentators to voice
opinions openly. However, on some occasions information that
is not factual is presented, or factual information is presented in
such a way as to create a misconception. While some errors may
be unintentional or simply sloppy, on some occasions it is possible
that some authors may be following a "Short and Distort" strategy,
where they purposefully create a negative picture after taking a
short position. To be sure, not every positive article
regarding the Company should be trusted either, but rather
investors should bring a critical eye to all articles published on
such sites, which despite having significant distribution power and
readership can be lacking in content quality.
For several reasons, Organovo strongly encourages all investors
to regularly review and focus on its filings with the Securities
and Exchange Commission and its press releases for information
regarding the Company, including the risk language in such filings,
because the first line of defense against sophistry lies with the
investor. When the Company has elected to request corrections
through a site publishing false information, the process can take
two days to two weeks, and no site that sends out an email alert
when an article is published has ever agreed to send the
corrections out via email alert, meaning that admitted factual
errors that required correction may never be seen by the great
majority of readers of the earlier incorrect article. A number of
requested corrections have never been made, because the standard
for some sites to adjudicate a dispute is only to ask the author if
they are willing to make a change. Above all, the Company feels
that it is in the best interests of shareholders for its management
team to remain primarily focused on advancing the commercialization
of its bioprinting technology, rather than debating with internet
bloggers. For these reasons, Organovo seeks to provide
resources to keep its investor base informed and engaged, so that
individual investors are best prepared to judge content for
themselves.
The Company makes the following recommendations to investors who
encounter what they believe may be a concerning article:
- Review the company's Investor FAQ, including, if appropriate,
"Short and Distort" related content, at
http://www.organovo.com/investors/frequently-asked-questions
- Review the company's SEC filings for information regarding a
given topic, and leverage SEC resources to understand such filings
at
http://investor.gov/researching-managing-investments/researching-investments
- Review third party information regarding "Short and Distort"
strategies, such as Investopedia's description of the technique:
http://www.investopedia.com/articles/analyst/030102.asp
- When choosing to comment on any article web page, investors
should stick to factual statements and not criticize the authors
directly, since direct attacks will be deleted
- For any unanswered questions raised by a given article, inquire
directly with the Company through our investor relations email
address at ir@organovo.com
About Organovo Holdings, Inc.
Organovo designs and creates functional, three-dimensional
human tissues for medical research and therapeutic applications.
The company is collaborating with pharmaceutical and academic
partners to develop human biological disease models in three
dimensions. These 3D human tissues have the potential to accelerate
the drug discovery process, enabling treatments to be developed
faster and at lower cost. In addition to numerous scientific
publications, the Company's technology has been featured in The
Wall Street Journal, Time Magazine, The Economist, and
numerous others. Organovo is changing the shape of medical
research and practice. Learn more at www.organovo.com.
Safe Harbor Statement
Any statements contained in this press release that do not describe
historical facts may constitute forward-looking statements as that
term is defined in the Private Securities Litigation Reform Act of
1995. Any forward-looking statements contained herein are based on
current expectations, but are subject to a number of risks and
uncertainties. The factors that could cause actual future results
to differ materially from current expectations include, but are not
limited to, risks and uncertainties relating to the Company's
ability to develop, market and sell products based on its
technology; the expected benefits and efficacy of the Company's
products and technology; and the Company's business, research,
product development, regulatory approval, marketing and
distribution plans and strategies. These and other factors are
identified and described in more detail in our filings with
the SEC, including our report on Form 10-Q filed August 9, 2013, the prospectus supplement filed
with the SEC on August 2, 2013 and the transition
report on Form 10-KT filed with the SEC on May 24,
2013 and our other filings with the Securities and
Exchange Commission. You should not place undue reliance on these
forward-looking statements, which speak only as of the date that
they were made. These cautionary statements should be considered
with any written or oral forward-looking statements that we may
issue in the future. Except as required by applicable law,
including the securities laws of the United States, we do not intend to update any
of the forward-looking statements to conform these statements to
reflect actual results, later events or circumstances or to reflect
the occurrence of unanticipated events.
SOURCE Organovo Holdings, Inc.