Skip to main content
Premium Trial:

Request an Annual Quote

HTG Molecular Preliminary 2020 Revenues Drop 56 Percent

NEW YORK – HTG Molecular on Tuesday reported a nearly 55 percent year-over-year drop in preliminary revenues for 2020.

The Tucson, Arizona-based firm said that preliminary revenues for 2020 are expected to be $8.5 million compared with $19.2 million in 2019. On average, analysts are expecting HTG to report 2020 revenues of about $8.0 million.

HTG also said that it expects to have cash, cash equivalents, and short-term marketable securities of about $28.7 million.

"Clearly COVID-19 impacted our core oncology business as planned studies were delayed and operations in many of our customers' laboratories suspended or significantly curtailed," John Lubniewski, CEO of HTG, said in a statement. "Despite these challenges, we saw returning strength in our core business in the second half and especially in the fourth quarter of 2020."

As part of HTG's plans for its whole-transcriptome gene expression profiling platform, Lubniewski noted that it has signed multiple letters of intent with potential collaborators for its early-access program in December. The firm aims to fully launch the platform later this year.

HTG, which completed a 1-for-15 reverse stock split of its outstanding stock in November, expects to announce full financial results for 2020 in March.

HTG's stock was up about 2 percent at $4.08 in early-morning trading.

The Scan

Call for a Different Tack

Experts weigh the value of recent experiments testing genetically modified pig kidneys using brain-dead individuals, according to Nature News.

Wastewater Warning

The New York Times reports that wastewater surveillance in some parts of the US point to a possible surge.

Can't Get in the Program

Due to the Northern Ireland protocol dispute, the European Union is preventing UK researchers from joining the Horizon Europe research program, the Times of London reports.

Science Paper on Spatial-Controlled Genome Editing

In Science this week: approach to enable a CRISPR-Cas13a-based system to be used as a cancer therapy.