The firm is offering 12.1 million shares of its common stock at a price to the public of $2.90 per share, for expected gross proceeds of $35.1 million.
The project relates to an NGS-based clinical trial assay associated with a sponsored project agreement between Qiagen and an undisclosed pharmaceutical company.
The company said that it expects its fourth quarter revenues will be up as much as 380 percent over the year-ago quarter.
The two companies have signed a new master collaboration agreement under which HTG will develop custom assays for use in earlier stages of Merck's drug development process.
The Federal Trade Commission said today that Becton Dickinson and CR Bard have agreed to divest two medical device product lines to settle its complaint that the proposed $24-billion acquisition would negatively impact competition.
Third quarter growth was driven by a sharp increase in revenues from HTG Molecular's pharmaceutical partners.
Alere this week informed the New York Stock Exchange in writing of its intention to voluntarily delist its Series B convertible perpetual preferred stock from the exchange.
While the company reported an increase in revenues from biopharma partners, this gain was more than offset by lower consumable sales.
The firm's market value fell below the minimum $35 million level to remain listed on the Nasdaq. HTG has until Jan 29, 2018 to regain compliance.