HTG Molecular

The firm used the new loan to pay off an older $7.0 million loan and a $3.0 million promissory note held by Qiagen North American Holdings.

The Tucson, Arizona-based firm signed agreements with Denmark-based BioNordika, Czech Republic-based Explorea, and Bulgaria-based Elta 90.

The firm's revenues fell to $2.2 million from $3.2 million in the same period the year before, missing the consensus Wall Street estimate of $3.0 million.

For FY 2019, the firm's revenues dropped 11 percent to $19.2 million from $21.5 million in 2018, matching analysts' expectations. 

The company said it anticipates $19.2 million in revenues for full-year 2019, which would miss the consensus Wall Street estimate of $19.4 million.

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.