On What Basis Did HTG Molecular (HTGM) Stock Rise 60% In Pre-Hour Trades On Tuesday?

Following the conclusion of a business equity transfer, HTG Molecular Diagnostics Inc. (NASDAQ: HTGM) has soared 60.32% to $4.97 in pre-market trading hours on the previous check Tuesday.

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Which action has been finished by HTGM?

The previously announced public offering of 1,290,322 shares of common stock of HTG Molecular (HTGM) has concluded (or pre-funded warrants in lieu thereof). At a cumulative public offering price of $7.75 a share (or pre-funded warrant) and associated warrants, HTG Molecular offered Series A-1 warrants to acquire up to 1,290,322 shares of its ordinary shares and Series A-2 requires a warrant to obtain up to 1,290,322 shares of HTGM common stock.

The Series A-2 warrants have an exercise price of $7.50 per share, are immediately exercisable, and will expire twenty-four months from the date of issuance, whereas the Series A-1 warrants have an exercise price of $7.50 per share.

As the only arrangement agent for the offering, H.C. Wainwright & Co executed the transaction. Before subtracting the placement agent’s fees and other offering costs, the gross proceeds from the offering total around $10.0 million. The net proceeds from this offering will be used by HTGM for general business objectives, which may include paying for capital projects, working capital, clinical trial costs, and research and development costs.

A webinar was held by HTGM

The use of RNA profiling in drug discovery and analysis was the topic of the most recent HTG Therapeutics key opinion leader (KOL) webinar, which was held by HTGM on Tuesday, December 13, 2022.

KOL Dr. Robert Spitale, Ph.D., from the University of California – Irvine, gave a presentation at the webinar on the use of RNA profiling in the drug development process to better understand the mechanism of action and improve drug screening procedures.

What was presented by HTGM?

Results from the use of the transcriptome-informed drug development approach were reported by the HTG Molecular (HTGM) team. As an example of how RNA profiling might help in identifying post-target engagement effects and broaden HTGM’s determination of the biological implications of chemical treatment, lots of different types of the ferroptosis pathway by architecturally identical compounds that target mTOR was provided.