HTG Introduces Oncology Applications and Expands Analytics Capabilities with Release of New Software Update

Rhea-AI Summary

HTG Molecular Diagnostics (Nasdaq: HTGM) announced the commercial release of HTG EdgeSeq Reveal version 3.0, enhancing its biostatistical analysis suite for research purposes. This update introduces new RUO oncology applications, integrates the HTG EdgeSeq Pan B-Cell Lymphoma Panel, and expands the RUO menu for Thermo Fisher Scientific's NGS platform. Senior Vice President Byron Lawson highlighted the potential of these developments to support translational research and biomarker identification, aiming to advance precision medicine.

Positive

• Launch of HTG EdgeSeq Reveal version 3.0 adds new applications and functionalities.
• Enhancements include RUO oncology applications to better understand tumor environments.
• Integration of Pan B-Cell Lymphoma Panel aids in assessing DLBCL cell origins.
• Expanded RUO menu for Thermo Fisher's NGS platform broadens customer profiling capabilities.

Negative

• Risks associated with the HTG EdgeSeq Reveal may not meet customer expectations.
• Potential challenges in commercialization and adoption of new applications.
• Uncertainty regarding the manufacturing capacity to meet product demand.

TUCSON, Ariz., Aug. 18, 2020 (GLOBE NEWSWIRE) -- HTG Molecular Diagnostics, Inc. (Nasdaq: HTGM) (HTG), a life science company whose mission is to advance precision medicine, today announced the commercial release and immediate availability of HTG EdgeSeq Reveal version 3.0, adding additional applications and software functionalities.

The HTG EdgeSeq Reveal, launched in January 2019, is a web-based biostatistical analysis software suite designed to accelerate customer research by streamlining their statistical analysis of samples processed with HTG’s RUO profiling assays. Today’s release adds several applications and additional functionalities, including:

• RUO oncology applications – Customers globally are now able to leverage RUO oncology applications specifically built upon, and using data from, the HTG EdgeSeq Precision Immuno-Oncology Panel (PIP) to generate immune, stroma and tumor microenvironment (TME) scores to better understand factors such as tumor inflammation (Hot versus Cold) and stromal response to a tumor.
   
• HTG EdgeSeq Pan B-Cell Lymphoma Panel – Integration of the recently-launched HTG EdgeSeq Pan B-Cell Lymphoma Panel enables customers globally to assess DLBCL Cell of Origin, in addition to using the analytic capabilities of HTG EdgeSeq Reveal to potentially develop molecular subtyping algorithms to classify and research various aggressive lymphomas.
   
• RUO menu expansion for Thermo Fisher Scientific Next-Generation Sequencing (NGS) platform – Expanded profiling assay menu allows customers globally to utilize the analytic capabilities of HTG EdgeSeq Reveal with HTG’s entire RUO profiling assay menu, including assays for use with both Illumina, Inc. and Thermo Fisher Scientific NGS platforms.

“This latest release of our HTG EdgeSeq Reveal enhances the functionality available to customers who purchase our RUO profiling assays,” said Byron Lawson, Senior Vice President and Chief Commercial Officer. “While in development, we saw firsthand the tremendous impact of these newly launched capabilities in advancing research, and we believe our customers will be able to use these tools to further accelerate their discovery, support translational applications, and to identify potential biomarkers for development of companion diagnostics.”

About HTG:
HTG is focused on NGS-based molecular profiling. The company’s proprietary HTG EdgeSeq technology automates complex, highly multiplexed molecular profiling from solid and liquid samples, even when limited in amount. HTG’s customers use its technology to identify biomarkers important for precision medicine, to understand the clinical relevance of these discoveries, and ultimately to identify treatment options. Its mission is to empower precision medicine.

Safe Harbor Statement:
Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the capabilities and benefits of HTG EdgeSeq Reveal version 3.0, including its RUO oncology applications and potential benefits associated with the HTG EdgeSeq Pan-B Lymphoma Panel and expanded menu of Thermo Fisher Scientific NGS platform RUO assays. Words such as “believes,” “anticipates,” “plans,” “expects,” “intends,” “will,” “goal,” “potential” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements necessarily contain these identifying words. These forward-looking statements are based upon management’s current expectations, are subject to known and unknown risks, and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, including but not limited to, the risk that HTG EdgeSeq Reveal version 3.0, our HTG EdgeSeq RUO assays and related RUO applications may not provide the expected benefits or capabilities; the risk the we may not be successful in our efforts to commercialize additional applications; risks associated with our ability to successfully commercialize our products; the risk that our products and services may not be adopted by biopharmaceutical companies or other customers as anticipated, or at all; and our ability to manufacture our products to meet demand. These and other factors are described in greater detail in our filings with the Securities and Exchange Commission, including without limitation our Quarterly Report on Form 10‑Q for the quarter ended June 30, 2020. All forward-looking statements contained in this press release speak only as of the date on which they were made, and we undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

Contact:
Ashley R. Robinson
LifeSci Advisors, LLC
Phone: (617) 430-7577
Email: arr@lifesciadvisors.com

FAQ

What is HTG's recent announcement regarding the EdgeSeq Reveal?

HTG announced the commercial release of HTG EdgeSeq Reveal version 3.0, enhancing its capabilities.

What new applications are included in HTG EdgeSeq Reveal version 3.0?

The update includes RUO oncology applications, the HTG EdgeSeq Pan B-Cell Lymphoma Panel, and expanded RUO menu for Thermo Fisher's NGS platform.

How will HTG EdgeSeq Reveal version 3.0 benefit researchers?

It aims to accelerate research by enhancing data analysis related to tumor environments and biomarker identification.

What are the potential risks associated with HTG EdgeSeq Reveal version 3.0?

There are risks that the new capabilities may not provide expected benefits or achieve customer adoption.

What is HTG Molecular Diagnostics' mission?

HTG focuses on advancing precision medicine through NGS-based molecular profiling technologies.