HTGM - HTGM STOCK NEWS

HTG Molecular Diagnostics, Inc. (Nasdaq: HTGM) announced a one-for-twelve reverse stock split effective December 20, 2022. Starting December 21, 2022, HTGM's common stock will trade on a split-adjusted basis on the Nasdaq Capital Market. As a result of this split, every twelve shares will be combined into one share, with no fractional shares issued. Stockholders of record will receive a cash payment instead of fractional shares. Further information can be found in HTG's Current Report on Form 8-K filed on the same date.

HTG Molecular Diagnostics (HTGM) will host a key opinion leader webinar on December 13, 2022, focused on RNA profiling's role in drug discovery. Dr. Robert Spitale from UC Irvine will present insights on RNA profiling, emphasizing its significance in understanding drug mechanisms and improving screening processes. The webinar will also showcase HTG's transcriptome-informed drug discovery results, specifically the regulation of the ferroptosis pathway by mTOR-targeting compounds. This initiative aims to refine candidate molecule selection for potential licensing opportunities in drug development.

HTG Molecular Diagnostics (Nasdaq: HTGM) announced that its proprietary HTG EdgeSeq™ technology will feature in at least eight scientific abstracts at two major conferences: the 45th Annual San Antonio Breast Cancer Symposium and the 64th Annual American Society of Hematology Meeting. Key presentations will include studies from HTG's biopharma partners showcasing advancements in gene expression profiling. The HTG Transcriptome Panel, launched in August 2021, offers enhanced capabilities in capturing human transcriptome data, vital for precision medicine.

HTG Molecular Diagnostics reported Q3 2022 financial results, revealing revenue of $1.3 million, a decrease from $2.5 million in Q3 2021. The company continues to adjust to a challenging market, with ongoing operating losses of $4.3 million. Despite these challenges, HTG is witnessing a gradual recovery in orders from new pharma customers and is focused on advancing its drug discovery platform. As of September 30, 2022, cash reserves stood at $6.5 million against current liabilities of $6.8 million.

HTG Molecular Diagnostics (Nasdaq: HTGM) has partnered with OmiCure to implement the HTG Transcriptome Panel (HTP) as an RNA-Seq alternative, enhancing therapeutic decision-making in cancer treatment. Samples from OmiCure will be processed at HTG’s VERI/O laboratory, utilizing the HTG EdgeSeq system, which analyzes nearly 20,000 genes from minimal tissue. This collaboration aims to provide timely and comprehensive gene expression data, leveraging OmiCure's AI platform Onco KEM for improved patient outcomes.

HTG Molecular Diagnostics, Inc. (HTGM) reported significant progress in its third-quarter milestones, focusing on its transcriptome-informed drug discovery and design platform. The company advanced machine-learning components and generated proprietary data for therapeutic development, including chemical libraries entering preclinical characterization. HTG aims to select at least one candidate molecule for preclinical development by year-end 2022. The HTG Transcriptome Panel launched in August 2021 supports about 20,000 mRNA targets, enhancing drug discovery capabilities.

HTG Molecular Diagnostics, Inc. (Nasdaq: HTGM) will participate in the Cantor Fitzgerald Oncology, Hematology & HemeOnc Conference in New York City on September 28, 2022. CEO John Lubniewski will join the panel discussion titled “Predictive Biomarkers, Sequencing and Diagnostics, Oh My!” at 9:50 am ET. HTG focuses on advancing precision medicine through transcriptome-wide profiling technology, enhancing diagnostic tools, and supporting drug discovery across various diseases. For additional inquiries or meetings, attendees should contact their Cantor Fitzgerald sales representative.

HTG Molecular Diagnostics (Nasdaq: HTGM) announced a partnership with Fundación Instituto Valenciano de Oncología and other partners to develop the MPD Test, a laboratory-developed test for breast cancer recurrence. Utilizing HTG EdgeSeq™ technology, this test aims to assess the risk of distant metastasis in HR+/HER2- early-stage breast cancer patients. The test is expected to provide rapid results in just 3 days from a small tissue sample. HTG aims to enhance precision medicine and reduce biases in risk assessment, supporting better treatment decisions for patients.

HTG Molecular Diagnostics, Inc. (Nasdaq: HTGM) reported its financial results for Q2 2022, revealing a revenue decline to $1.5 million from $2.1 million in Q2 2021. The company's net loss from operations increased to $5.7 million. Sales from the HTG Transcriptome Panel represented over 42% of the revenue. HTG successfully amended its Loan and Security Agreement with Silicon Valley Bank, waiving existing financial covenants. The company maintains a strong cash position of $14.1 million against total liabilities of approximately $16.7 million.