HTG Molecular Diagnostics, Inc. (NASDAQ:HTGM) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

ME Staff 8-k
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HTG Molecular Diagnostics, Inc. (NASDAQ:HTGM) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01

Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

(a)

OnJuly 31, 2017, HTG Molecular Diagnostics, Inc. (the “Company”) received written notice from the staff of the Nasdaq Stock Market LLC (“NASDAQ”) that, as of July 31, 2017, the Company was not in compliance with the market value of listed securities(“MVLS”) standard for continued listing set forth in NASDAQ Listing Rule5550(b)(2), as the Company’s MVLS was below $35 million for the last 30 consecutive business days.

The Company has a 180-day period, which expires on January 29, 2018, to regain compliance with the MVLS standard.The Company will regain compliance with the MVLS standard if its MVLS closes at $35 million or more for a minimum of 10 consecutive business days during this period.If the Company is unable to regain compliance during this period, it will receive a delisting determination from NASDAQ at which time the Company may request an appeal of delisting to a NASDAQ Hearings Panel.

There can be no assurance that the Company will be able to regain compliance with the MVLS standard or otherwise will be able to satisfy an alternative standard for continued listing on the Nasdaq Capital Market.


About HTG Molecular Diagnostics, Inc. (NASDAQ:HTGM)

HTG Molecular Diagnostics, Inc. is a commercial-stage company that develops and markets a technology platform to facilitate the routine use of complex molecular profiling. The Company’s HTG Edge and HTG EdgeSeq platforms, consisting of instrumentation, consumables and software analytics, are used in sample profiling applications, including tumor profiling, molecular diagnostic testing and biomarker development. The Company’s HTG Edge and HTG EdgeSeq platforms automate the molecular profiling of genes and gene activity using its nuclease protection chemistry on a range of biological samples. The Company’s HTG EdgeSeq chemistry, together with its HTG Edge or HTG EdgeSeq instrumentation and software, automates and adapts its nuclease protection chemistry to enable analysis using next generation sequencing (NGS) instrumentation. The HTG EdgeSeq system utilizes substantially the same sample preparation reagents as its original chemistry, but allows for read out on an NGS instrument.