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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. 

HTG will leverage existing collaborations with firms including Illumina and Thermo Fisher Scientific to continue building in vitro diagnostic assays on their sequencers. 

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.

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