HTG Flat on Stock Offering

HTG Molecular Diagnostics Inc (NASDAQ:HTGM) reported a common stock offering with no size disclosed.

The Tucson-based diagnostic company, "whose mission is to advance precision medicine," announced that it intends to offer and sell, subject to market and other conditions, shares of its common stock in an underwritten public offering. All of the shares are being offered by HTG.

In addition, HTG expects to grant the underwriter for the offering a 30-day option to purchase additional shares of its common stock at the public offering price, less the underwriting discounts and commissions.

There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

The shares of common stock described above are being offered by HTG pursuant to a shelf registration statement filed by HTG with the Securities and Exchange Commission (SEC) that was declared effective last February.

The last period for which the company reported financial numbers showed revenue of $4.4 million for the three and six-month periods ended June 30, 2019, representing a 119% increase over the same period of 2018 and reflecting growth in both research use only (RUO) profiling and molecular diagnostics (MDx) revenue.

Net loss from operations for the second quarter of 2019 was $4.7 million, compared to $4.1 million for the second quarter of 2018.

Shares opened Friday down nine cents, or 11.3% to 71 cents