HTG Molecular Diagnostics Files to Go Public

Molecular-profiling applications for HTG’s products include tumor profiling, molecular diagnostics and biomarker development, according to the filing. The company’s technology is based on quantitative nuclease protection, which enables DNA and RNA analysis without extraction or reverse transcription. The HTG Edge system was introduced last year. Advantages include multiplexing of up to 2,500 genes from small sample volumes, with a 24–36 hour turnaround time. HTG has a development and component-supply agreement with Illumina (see page 9).

Washington, DC 12/30/14—HTG Molecular Diagnostics has filed with the SEC for a public offering of its common stock on the NASDAQ stock exchange. No stock price or offering date was disclosed. The company provides the HTG Edge platform, consumables and software for facilitating complex molecular profiling for routine use in clinical and research applications. The company offers the HTG Edge processor and software for lower multiplexed panels; three HTG Edge panels for late-stage drug-development programs; three HTG Edge panels for preclinical and clinical research; and one HTG EdgeSeq panel for quantitation of high-plexed panels utilizing NGS. The company is also working with partners to develop companion diagnostics. In the first nine months of this year, HTG revenues grew 24.7% to $2.0 million, and operating loss expanded from $9.3 million to $9.5 million. Instruments and consumables represented 30% and 18% of sales, respectively. Product sales grew 85%. The firm has a total accumulated deficit of $64.0 million. HTG plans to seek FDA clearance for an expanded EdgeSeq-based diffuse large B-cell lymphoma panel in 2015. As of September 30, the company had available cash and cash equivalents of $7.7 million.

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