HTG Molecular Diagnostics Inc (HTGMQ)

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HTG Molecular Diagnostics Reports Second Quarter 2018 Results
August 7, 2018 at 4:05 PM EDT
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Revenue increased 179% and 190%, respectively, compared to the three and six-month periods in the prior year

Call scheduled for today, August 7, at 4:30 pm ET

TUCSON, Ariz., Aug. 07, 2018 (GLOBE NEWSWIRE) -- HTG Molecular Diagnostics, Inc. (Nasdaq: HTGM) (HTG), a provider of instruments, reagents and services for molecular profiling applications, today reported financial results for the three and six-month periods ended June 30, 2018.

Recent Accomplishments & Highlights:

Achieved revenue of $4.9 million and $9.1 million for the three and six-month periods ended June 30, 2018, respectively, which represents a 179% and 190% increase over the respective periods in 2017.

Featured a new comprehensive Precision Immuno-Oncology panel quantifying expression of nearly 1,400 genes at the 2018 American Society of Clinical Oncology (ASCO) annual meeting, in preparation for an expected commercial launch this month. This panel is automated on the HTG EdgeSeq instrument and optimized for low sample input.

Executed a master agreement with Oncologie, Inc. (“Oncologie”) to partner on the development of biomarkers associated with Oncologie’s immuno-oncology drug development utilizing HTG’s assay development and VERI/O service lab capabilities. Oncologie has several later stage drugs in their pipeline and is dedicated to biomarker-driven clinical development for immuno-oncology.

Entered into a non-exclusive license and supply agreement with Firalis S.A. (“Firalis”) supporting potential commercialization of a theranostic test to predict rheumatoid arthritis patient response to anti-TNF a therapy. HTG will provide the instrumentation and reagent kits to support Firalis’s commercialization plans, expected to include both a central lab and distributed business model.
“The company continues to execute well against our 2018 objectives and longer-term strategies”, said TJ Johnson, Chief Executive Officer of HTG. “We are excited about the imminent launch of our new immuno-oncology panel, and other new panels planned for launch in Q4, and we believe we are gaining momentum from our recent investments into additional sales positions, which we expect to impact our results in the back half of the year.”


https://htgmolecular.gcs-web.com/news-releases/news-release-details/htg-molecular-diagnostics-reports-second-quarter-2018-results