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HTG Molecular Diagnostics to Implement Reverse Stock Split

NEW YORK — HTG Molecular Diagnostics on Monday filed a document with the US Securities and Exchange Commission to effect a 1-for-12 reverse stock split of its outstanding common stock.

The move, which was authorized by the company's stockholders last month, will take effect at the opening of the market on Dec. 21, HTG Molecular said in the filing. It follows a 1-for-15 reverse stock split the company completed in late 2020.

During Tuesday morning trading on the Nasdaq, shares of HTG Molecular were down around 7 percent at $.7664.

About a month ago, the Tucson, Arizona-based company posted a 48 percent year-over-year drop in third quarter revenues as it repositions itself as a drug discovery technology developer.