Benzinga - HTG Molecular Diagnostics Inc (NASDAQ: HTGM) shares are sliding Tuesday. The stock rallied in recent sessions ahead of the company's key opinion leader webinar, which kicked off this morning.
What's Going On: HTG Molecular Diagnostics shares appear to be pulling back after surging in anticipation of a company event called "The Role of RNA Profiling in Drug Discovery and Analysis."
Last week, the company set the stage for the event, noting that it planned to present results from the application of its transcriptome-informed drug discovery process.
HTG said it also planned to show how RNA profiling could aid in understanding post-target engagement consequences and expand understanding of the biological implications of compound treatment.
HTG Therapeutics, the company's drug discovery business unit, is actively using its transcriptome-informed approach to drug discovery to design and further refine small-molecule chemical libraries. The goal of this approach is to enable the selection and characterization of de-risked candidate molecules across selected therapeutic targets of interest leading to potential business development and licensing opportunities in various therapeutic areas.
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HTGM Price Action: HTG shares traded above $1.80 per share on Monday before pulling back.
The stock was down 24.5% at 77 cents at time of publication, according to Benzinga Pro.
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