HTG Molecular Diagnostics (HTGM) Gains After Announcing Launch of Direct-Target Sequencing Chemistry
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HTG Molecular Diagnostics (NASDAQ: HTGM) gained Monday, rising 100%. Earlier it announced that its new direct-target sequencing chemistry will be available in the company’s VERI/O laboratory as a service offering beginning in the first quarter of 2017.
Press release:
HTG Molecular Diagnostics, Inc. (Nasdaq: HTGM)("HTG"), a provider of instruments, reagents and services for molecular profiling applications announced that its new direct-target sequencing chemistry will be available in the company’s VERI/O laboratory as a service offering beginning in the first quarter of 2017. The new chemistry is designed for direct sequencing of specified DNA and, in the future, RNA targets with the same high sensitivity and specificity as the company’s current HTG EdgeSeq chemistry applications. The initial panel planned for the VERI/O laboratory will detect common mutations in the EGFR, KRAS and BRAF genes for retrospective research studies especially from small and difficult samples, such as formalin-fixed, paraffin-embedded (FFPE) tissue.
“We are very excited to be able to offer our customers this added service which, together with our prior service offerings, enables us to provide information on key DNA mutations as well as comprehensive gene expression RNA profiling, all from a single section of FFPE tissue,” said TJ Johnson, HTG’s Chief Executive Officer. “We have completed our patent application filings and plan to leverage this new chemistry into multiple offerings, including DNA applications such as expanded DNA mutation panels, and detecting microsatellite instability and tumor mutational burden.”
“We are completing final preparations for launching the direct-target sequencing technology and an initial DNA mutation panel in our VERI/O laboratory, and plan to have this panel available to service customers for research uses by the end of this quarter,” added Byron Lawson, HTG’s Vice President of Commercial Operations.
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