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HTG Molecular

Carlsbad, California-based BioSpyder said that HTG has repeatedly and baselessly accused it of infringing HTG's patent for quantitative nuclease protection assay and sequencing improvements.

For the three months ended June 30, the Tucson, Arizona-based firm's revenues fell to $2.0 million from $5.8 million in the same period the year before.

HTG will work directly with biopharma customers to build companion diagnostic development programs, with potential tests developed using either a Thermo Fisher Scientific or Illumina platform.

The firm used the new loan to pay off an older $7.0 million loan and a $3.0 million promissory note held by Qiagen North American Holdings.

The Tucson, Arizona-based firm signed agreements with Denmark-based BioNordika, Czech Republic-based Explorea, and Bulgaria-based Elta 90.

The firm's revenues fell to $2.2 million from $3.2 million in the same period the year before, missing the consensus Wall Street estimate of $3.0 million.

For FY 2019, the firm's revenues dropped 11 percent to $19.2 million from $21.5 million in 2018, matching analysts' expectations. 

HTG will leverage existing collaborations with firms including Illumina and Thermo Fisher Scientific to continue building in vitro diagnostic assays on their sequencers. 

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