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HTG Molecular

The Tucson, Arizona-based company previously raised $20 million through a public offering of its shares and a purchase deal with certain investors.

HTG terminated a companion diagnostic development deal with Qiagen in the wake of that company's discontinuation of next-generation sequencing instruments.

The firm received a notice from Nasdaq on Oct. 4 saying its stock had not met the minimum $1-per-share closing price requirement for 30 consecutive business days.

The firm has launched both a public offering of common stock as well as a private placement of warrants, expecting to bring in around $20 million from the transactions.

Revenues from product and product-related services more than doubled to $4.4 million, but collaborative development revenues sank 52 percent to $1.4 million.

While the company's product and product-related revenues rose 54 percent, its collaborative development program revenues fell 78 percent.

Under deal, HTG will sell to or through Cowen from time to time $40 million of its common stock though it is not obligated to sell any shares.

The firm's revenues rose to $21.5 million from $14.8 million in 2017, driven by expansion of its biomarker profiling services business and collaborative program.

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