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.
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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