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HTG Molecular Diagnostics, Inc. (HTGM)

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5.07-0.08 (-1.55%)
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Previous Close5.15
Open5.13
Bid4.95 x 1000
Ask5.25 x 800
Day's Range4.97 - 5.29
52 Week Range3.50 - 13.80
Volume82,279
Avg. Volume108,015
Market Cap31.803M
Beta (5Y Monthly)1.35
PE Ratio (TTM)N/A
EPS (TTM)-4.00
Earnings DateAug 09, 2021 - Aug 13, 2021
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est9.75
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  • HTG Completes Product Design Lock for its Planned Transcriptome Panel and Announces the Signing of the Three Early Adopter Program Collaboration Agreements
    GlobeNewswire

    HTG Completes Product Design Lock for its Planned Transcriptome Panel and Announces the Signing of the Three Early Adopter Program Collaboration Agreements

    TUCSON, Ariz., June 14, 2021 (GLOBE NEWSWIRE) -- HTG Molecular Diagnostics, Inc. (Nasdaq: HTGM) (HTG), a life science company whose mission is to advance precision medicine, today announced it has completed product design lock for the HTG Transcriptome Panel and announced three Early Adopter Program (EAP) collaborators. HTG continues to progress in its development of a planned transcriptome panel using the HTG EdgeSeq technology. This panel, expected to be called the HTG Transcriptome Panel, wil

  • HTG EdgeSeq Technology Highlighted in Several Posters Being Presented at the American Society of Clinical Oncology 2021 Virtual Conference
    GlobeNewswire

    HTG EdgeSeq Technology Highlighted in Several Posters Being Presented at the American Society of Clinical Oncology 2021 Virtual Conference

    TUCSON, Ariz., May 24, 2021 (GLOBE NEWSWIRE) -- HTG Molecular Diagnostics, Inc. (Nasdaq: HTGM) (HTG), a life science company whose mission is to advance precision medicine, today announced that its HTG EdgeSeq technology is highlighted in several posters being presented at the American Society of Clinical Oncology (ASCO) conference, being held virtually from June 4-8, 2021. “We are pleased to see our technology highlighted in so many abstracts at this year’s ASCO conference,” said Byron Lawson, Senior Vice President and Chief Commercial Officer. “It is very satisfying to see our partners and customers incorporating our HTG EdgeSeq technology into their research, and we look forward to building upon this momentum.” Abstracts highlighting the use of HTG’s EdgeSeq technology at the ASCO conference include the following: Abstract 506: Durvalumab improves long-term outcome in TNBC: results from the phase II randomized GeparNUEVO study investigating neoadjuvant durvalumab in addition to an anthracycline/taxane based neoadjuvant chemotherapy in early triple-negative breast cancer (TNBC).Abstract 518: Palbociclib combined with endocrine treatment in breast cancer patients with high relapse risk after neoadjuvant chemotherapy: Subgroup analyses of premenopausal patients in PENELOPE-B.Abstract 519: Subgroup of post-neoadjuvant luminal-B tumors assessed by HTG in PENELOPE-B investigating palbociclib in high risk HER2-/HR+ breast cancer with residual disease.Abstract 558: MamaPred: A new and innovative approach to determine recurrence risk in HR+/HER2- early-stage breast cancer using HTG EdgeSeq technology.Abstract e14528: Gene expression profiling signatures for immunophenotyping of tumor microenvironment using HTG EdgeSeq Precision Immuno-Oncology Panel. “We believe the number of posters highlighting our technology at this year’s ASCO conference further demonstrates the utility of our HTG EdgeSeq technology and how some of our customers are currently using it to further their research,” said John Lubniewski, President and CEO of HTG. “We are proud to partner with such innovative centers of science and believe that these abstracts, and the growing number of publications issued by our customers, will support our ability to grow our customer base and penetrate new markets for our HTG EdgeSeq technology.” 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 utility and use of our HTG EdgeSeq technology and our ability to grow our customer base and penetrate new markets. Words such as “believe,” “look forward,” “will” 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, without limitation, risks associated with the impact of the COVID-19 pandemic on us and our customers; the risk that our HTG EdgeSeq technology may not have the utility and be used by our customers as we expect; risks associated with our ability to develop and commercialize our products, including a whole transcriptome panel; the risk that our products and services may not be adopted by biopharmaceutical companies or other customers as anticipated, or at all; our ability to manufacture our products to meet demand; the level and availability of third party payor reimbursement for our products; our ability to protect our intellectual property rights and proprietary technologies; our ability to operate our business without infringing the intellectual property rights and proprietary technology of third parties; competition in our industry; additional capital and credit availability; our ability to attract and retain qualified personnel; and product liability claims. 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 period ended March 31, 2021. 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 RobinsonPhone: (617) 430-7577Email: arr@lifesciadvisors.com

  • HTG Molecular Diagnostics Reports First Quarter 2021 Results and Provides a Corporate Update
    GlobeNewswire

    HTG Molecular Diagnostics Reports First Quarter 2021 Results and Provides a Corporate Update

    Call scheduled for today, May 13, at 4:30 pm ETTUCSON, Ariz., May 13, 2021 (GLOBE NEWSWIRE) -- HTG Molecular Diagnostics, Inc. (Nasdaq: HTGM) (HTG), a life science company whose mission is to advance precision medicine, today reported its financial results for the first quarter ended March 31, 2021. Recent Business Highlights ● Released a second technical white paper (White Paper Two) characterizing the company’s planned transcriptome panel using the HTG EdgeSeq technology. White Paper Two, among other things, compares the performance and feasibility of a prototype of HTG’s planned transcriptome panel to RNA sequencing (RNA-Seq) across multiple cancer indications. White Paper Two also demonstrates the feasibility and expected performance of the transcriptome panel, including: ○ Ability to differentiate samples based on gene expression profiles;○ Repeatability amongst replicates from multiple cancer indications with archived samples;○ Accuracy of differential expression analysis using a direct comparison to RNA-Seq;○ Potential as a robust alternative to RNA-Seq for gene expression profiling while maintaining the advantages of the HTG EdgeSeq technology. With the feasibility testing for all elements of the panel’s design complete, the company is now in the optimization phase of development, working to further improve the panel’s design, workflow, and robustness. Having completed our final round of probe quality control testing, defined our quality control metric strategy and finalized the reagent formulation during the quarter, we have ordered our final probe pool for the panel. Final panel design lock is anticipated in the second quarter of 2021 followed by formal panel design verification with initial commercialization anticipated by the third quarter of 2021. ● Increased participation in the company’s transcriptome panel Early Adopter Program (EAP), refining study details with over 25 collaborators to date, including those in both academia and pharma. The EAP allows a select group of customers access to the initial transcriptome panel for use in their laboratories or through services performed by HTG prior to commercial launch of the panel. “Our team continues to be very optimistic about the launch of the transcriptome panel using our HTG EdgeSeq technology,” said John Lubniewski, President and CEO of HTG. “Data published in our second white paper highlight the potential of this panel as a robust, clinically deployable alternative to RNA-Seq for gene expression profiling. We believe the benefits of our HTG EdgeSeq technology and the transcriptome panel, including ease of use, cost savings, turnaround time and broad applicability, will make this a very attractive alternative for gene expression profiling applications. We continue to meet our development milestones and look forward to providing updates on our progress in the coming months.” “In the fourth quarter of 2020, our base business showed signs of recovery after experiencing a substantial impact from COVID-19 in the second and third quarters of 2020. The reopening process stalled again in the first quarter of 2021 in Europe and our pharmaceutical company customers have continued a slow return to pre-COVID-19 clinical trial levels. We are hopeful of a return to pre-COVID revenue levels as vaccinations become more widely available and business continues to normalize,” Mr. Lubniewski continued. First Quarter 2021 Financial Highlights: Total revenue for the first quarter ended March 31, 2021 was $1.4 million, compared with $2.2 million for the same period in 2020. HTG believes the decrease in revenue is a result of the impact of the COVID-19 pandemic requiring the closure of customer facilities, causing a significant reduction in oncology-related clinical trial activity or limiting the ability of our customers to operate at pre-pandemic levels. Product and product-related services revenue was $1.4 million, compared with $2.0 million for the same period in 2020. Throughout the pandemic, HTG’s ability to ship instruments and consumables to customer facilities and the ability of its customers to prepare and ship samples to HTG’s VERI/O laboratory for processing has been limited. There was no collaborative development services revenue for the quarter ended March 31, 2021, compared with $0.2 million for the same period in 2020, reflecting the completion of remaining tasks under existing arrangements. The company has ongoing sales efforts to identify and contract new programs in this area. Net loss from operations for the first quarter ended March 31, 2021 was $4.6 million, compared with $5.4 million for the same period in 2020. Net loss per share was $(0.80) for the quarter ended March 31, 2021 compared with $(1.27) for the same period in 2020. Cash, cash equivalents and short-term available-for-sale securities totaled $30.8 million as of March 31, 2021, with current liabilities of approximately $8.3 million and non-current liabilities of $11.5 million. Conference Call and Webcast: HTG will host a conference call for the investment community today beginning at 4:30 p.m. Eastern Time. Conference call and webcast details are as follows: Date: Thursday, May 13, 2021Time: 4:30 p.m. Eastern TimeToll Free: (877) 407-0789International: (201) 689-8562Conference ID: 13719223Webcast: http://public.viavid.com/index.php?id=144644 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 anticipated performance characteristics and benefits of our planned transcriptome panel, the related Early Access Program, the impact of strategic adjustments made to lessen the impact of COVID-19, our belief that direct revenue from our core oncology business will begin to recover to pre-COVID levels, and the expected timing of the commercial launch of our transcriptome panel. 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, without limitation, risks associated with the impact of the COVID-19 pandemic on us and our customers; the risk that our transcriptome panel may not provide the benefits that we expect; risks associated with our ability to develop and commercialize our products, including our transcriptome panel; the risk that our products and services may not be adopted by biopharmaceutical companies or other customers as anticipated, or at all; our ability to manufacture our products to meet demand; competition in our industry; additional capital and credit availability; our ability to attract and retain qualified personnel; and product liability claims. 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 period ended March 31, 2021. 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 RobinsonPhone: (617) 430-7577Email: arr@lifesciadvisors.com -Financial tables follow- HTG Molecular Diagnostics, Inc. Consolidated Statements of Operations Three Months Ended March 31, 2021 2020 Revenue: Product and product-related services $1,435,146 $1,988,137 Collaborative development services — 237,337 Total revenue 1,435,146 2,225,474 Operating expenses: Cost of product and product-related services revenue 785,200 1,015,492 Selling, general and administrative 3,859,619 4,675,263 Research and development 1,372,040 1,926,275 Total operating expenses 6,016,859 7,617,030 Operating loss (4,581,713) (5,391,556)Other income (expense), net (264,145) (61,166)Net loss before income taxes (4,845,858) (5,452,722)Provision for income taxes (2,449) (5,176)Net loss $(4,848,307) $(5,457,898) Net loss per share, basic and diluted $(0.80) $(1.27)Shares used in computing net loss per share, basic and diluted 6,040,752 4,304,529 HTG Molecular Diagnostics, Inc. Consolidated Balance Sheets March 31, December 31, 2021 2020 Assets Current assets: Cash and cash equivalents $21,777,687 $22,397,812 Short-term investments available-for-sale, at fair value 8,987,844 6,298,075 Accounts receivable 1,250,048 1,588,767 Inventory, net 1,602,874 1,492,126 Prepaid expenses and other 1,530,203 1,094,273 Total current assets 35,148,656 32,871,053 Operating lease right-of-use assets 349,074 1,009,097 Property and equipment, net 1,124,258 1,227,402 Other non-current assets 5,853 90,356 Total assets $36,627,841 $35,197,908 Liabilities and stockholders' equity Current liabilities: Accounts payable $1,352,837 $1,348,762 Accrued liabilities 1,114,810 1,459,878 Contract liabilities - current 493,869 185,083 NuvoGen obligation - current 479,403 512,729 Current portion of long-term debt 4,501,741 3,022,139 Operating lease liabilities - current 373,946 685,220 Other current liabilities 20,293 22,563 Total current liabilities 8,336,899 7,236,374 NuvoGen obligation - non-current, net of discount 4,354,839 4,479,396 Long-term debt, net 7,046,617 8,568,308 Operating lease liabilities - non-current — 368,682 Other non-current liabilities 49,424 60,488 Total liabilities 19,787,779 20,713,248 Commitments and Contingencies Total stockholders’ equity 16,840,062 14,484,660 Total liabilities and stockholders' equity $36,627,841 $35,197,908