NEW YORK (GenomeWeb) – HTG Molecular reported after the close of the market on Thursday a 25 percent rise in total revenues for its fourth quarter.

For the three months ended Dec. 31, 2016, the company reported total revenues of $1.5 million, compared to $1.2 million in Q4, 2015. While service revenues rose to $381,221 from $33,466 a year ago, product revenues shrank 8 percent year over year to $1.1 million from $1.2 million.

The company reduced its R&D costs 18 percent to $1.4 million from $1.7 million, while its SG&A costs remained stable at $4.1 million.

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