HTG Molecular Diagnostics Inc (NASDAQ:HTGM) Enters Third Statement Of Work; To Offer Or Sell 10,000,000 Shares

HTG Molecular Diagnostics Inc (NASDAQ:HTGM) recently announced that it has entered into a third statement of work under its Master Assay Development, Commercialization and Manufacturing Agreement for a new clinical assay development program. The company has made this agreement with QIAGEN Manchester Limited which is a wholly owned QIAGEN, N.V. (NYSE:QGEN) subsidiary. The announcement said that the work for this new development program will take off immediately.

According to the President and CEO of HTG, TJ Johnson, they are very much excited to begin the third assay development program for yet another pharmaceutical company under the company’s QIAGEN master agreement. He further said that it demonstrates the strength of the combined value proposition of the company in the development of companion diagnostics.

Johnson stated that the new clinical assay development program has a very aggressive development timeline and also includes a possibility of a first regulatory filing in 2018.

HTG To Offer 10,000,000 Shares

The provider of instruments, reagents, and services for molecular profiling applications made an announcement recently that it is planning to offer and sell 10,000,000 shares of its common stock. The offering will be subject to market as well as other conditions. All the shares are being offered by the company and no assurance can be given whether or when the offer will be completed or even regarding the exact size or actual term of the offering.

HTG has entrusted the task of joint book-running managers for this offering to Leerink Partners LLC and Cantor Fitzgerald & Co. LifeSci Capital LLC will act as the co-manager for this offering. According to the report, a 30-day option will be given to the underwriters’ by the company to purchase an additional 1,500,000 shares of HTG’s common stock.

HTG has also entered into a new Master Collaboration Agreement for translational programs with Merck KGaA. The Darmstadt-based German company is a leading science and technology establishment and this new collaboration complements the previously announced Master Companion Diagnostic Agreement by HTG with the same company.

Culver Stinson

Culver Stinson

Stinson is US Markets Daily’s Senior Producer for News & Public Affairs.