Organovo (ONVO) S-3 Shelf registration

Exhibit 12.1

CALCULATIONS OF EARNINGS AVAILABLE TO COVER FIXED CHARGES

	Nine Months Ended December 31 (unaudited)			Fiscal Year Ended March 31			Three Months Transition Period Ended March 31			Three Months Ended March 31 (unaudited)			Year Ended December 31
	2014			2014			2013			2012			2012			2011			2010			2009
	(Dollars in thousands)
Earnings available to cover fixed charges	($	22,244	)	($	25,803	)	($	16,049	)	($	35,095	)	($	42,447	)	($	2,309	)	($	1,172	)	($	868	)
Fixed charges		40			45			71			1,986			1,106			2,074			167			4
Ratio of earnings to fixed charges		0			0			0			0			0			0			0			0
Calculation of earnings available:
Net loss		(22,284	)		(25,848	)		(16,120	)		(37,081	)		(43,553	)		(4,383	)		(1,339	)		(872	)
Fixed charges		40			45			71			1,986			1,106			2,074			167			4
Earnings (loss) available to cover fixed charges		(22,244	)		(25,803	)		(16,049	)		(35,095	)		(42,447	)		(2,309	)		(1,172	)		(868	)
Calculation of fixed charges:
Interest expense		40			45			71			1,090			210			886			167			4
Amortization of debt discount		0			0			0			896			896			1,188			0			0
Total Fixed Charges		40			45			71			1,986			1,106			2,074			167			4