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HTG Molecular

The companies will use HTG EdgeSeq technology to develop NGS-based gene expression profiling assays to support a pharma company's therapeutic development.

HTG Molecular Diagnostics has amended and restated an IVD test development and component supply agreement with Illumina to extend the agreement term and increase the number of in vitro diagnostic test kits that may be developed using Illumina’s sequencing technology.

A big bump in service revenues made up for a decline in product revenues. The company also trimmed its operating expenses and narrowed its net loss. 

The partners will work together to develop a breast cancer recurrence risk score using the company's technology.

The company intends to sell up to $75 million of its common stock for working capital and other purposes.

The firm also said that its HTG EdgeSeq technology has been adapted for use with the Qiagen GeneReader NGS System after technical feasibility testing.

The assay can be used to identify patients suitable for treatment with ALK-targeted therapeutics such as Pfizer's Xalkori.

The company had been warned by Nasdaq in August that it failed to comply with a minimum $10 million stockholder equity requirement to remain listed on the exchange. 

The partners will offer pharmaceutical firms a complete next-generation sequencing-based solution for the development and commercialization of companion diagnostic tests.

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