NEW YORK, July 11, 2013 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM) congratulates Organovo Holdings Inc. on its listing on the New York Stock Exchange's NYSE MKT.
In October 2012, Organovo, a biotechnology company focused on delivering breakthrough three-dimensional (3D) bioprinting technology, qualified for trading on OTCQX®, the best marketplace with qualified companies. In that time, the company's stock price has more than doubled to $5.40 and its market capitalization is now $318 million. Since joining OTCQX, Organovo's management team has increased shareholder value and achieved liquidity of over 120 million shares traded, representing approximately $478 million of dollar volume.
"Organovo's rapid growth has allowed them to smoothly graduate from OTCQX to NYSE MKT. We congratulate them on this important milestone and are proud to have helped contribute to their success as a public company," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "OTCQX is a springboard and proving ground for high-quality U.S. and global growth companies to execute their business plans and grow into a national stock exchange listing. In the past five years, over 300 companies have moved from our marketplaces to the NYSE and NASDAQ. We look forward to nurturing more companies like Organovo as they enter the public market and provide a robust and transparent platform for high quality trading of their shares."
"OTCQX helped us expand our investor base and increase our average daily trading volume, which was instrumental in enabling us to qualify for an NYSE MKT listing," said Keith Murphy, Chairman
|SOURCE OTC Markets Group Inc.|
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