HTG Molecular Diagnostics to Initiate Public Stock Offering
NEW YORK (GenomeWeb) – HTG Molecular Diagnostics said after the close of the market Tuesday that it intends to offer 10 million shares of its common stock in an underwritten public offering.
Leerink Partners and Cantor Fitzgerald are acting as joint book-running managers for the offering, and LifeSci Capital is acting as co-manager. HTG expects to grant the underwriters a 30-day option to purchase up to an additional 1.5 million shares of its stock.
The shares are being offered by HTG pursuant to a shelf registration statement filed by the company in April 2017.
Earlier this month the company said that it expects to report up to a 380 percent increases in its fourth quarter 2017 revenues due to increased revenues from collaborations.
The company also said on Tuesday that it entered into a third project for a new clinical assay development program under an existing master assay development, commercialization, and manufacturing agreement with Qiagen.