---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-049425"
form_type: "8-K/A"
ticker: "VIVS"
cik: "0001497253"
company_name: "VivoSim Labs, INC."
filed_at: "2023-09-22T23:59:59+00:00"
generated_at: "2026-06-10T09:38:47.425340+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Organovo cuts 24% of workforce; estimates $0.5M severance costs, $1.5M annual savings

## Summary
- Workforce reduction of ~6 employees (24% of staff) effective August 25, 2023.
- Estimated $0.5M cash severance through June 30, 2024; annual cost savings of $1.5M.
- Former CSO Jeffrey Miner terminated; separation includes $169,250 consulting contract and 40,000 stock options (pending board approval).
- Option vesting: 13,000 immediate, 13,500 at 1 year, 13,500 at 2 years.

## SEC filing metadata
- accession: 0000950170-23-049425
- form_type: 8-K/A
- ticker: VIVS
- cik: 0001497253
- company_name: VivoSim Labs, INC.
- filed_at: 2023-09-22T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.05, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1497253/000095017023049425/0000950170-23-049425-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1497253/000095017023049425/onvo-20230816.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-049425
- JSON: https://secwatch.observer/filing/0000950170-23-049425.json
- Plain text: https://secwatch.observer/filing/0000950170-23-049425.txt

## Key facts
- Executive change
  Jeffrey Miner was terminated as Chief Scientific Officer at VivoSim Labs, INC..
  - Action: terminated
  - Role: Chief Scientific Officer
  source text: Jeffrey Miner, Ph.D., the Company’s former Chief Scientific Officer, was notified that his employment with the Company would be terminated. Dr. Miner’s last day of employment was August 25, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1497253/000095017023049425/0000950170-23-049425-index.htm
- Restructurings & Charges
  VivoSim Labs, INC. announced a restructuring with charges of approximately $0.5 million (approximately six employees, which represented approximately 24% of its employees).
  - Type: restructuring
  - Charge: approximately $0.5 million
  - Headcount: approximately six employees, which represented approximately 24% of its employees
  source text: The Company now estimates that it will incur approximately $0.5 million of cash expenditures in connection with the reduction in force, which relate to severance pay, and are expected to be incurred through the quarter ending June 30, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1497253/000095017023049425/0000950170-23-049425-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.