Why HTG Molecular Diagnostics (HTGM) Stock Is Popping Off Today

HTG Molecular Diagnostics Inc HTGM shares are trading higher by 58.06% to $4.90 Tuesday afternoon after the company announced the closing of a $10 million offering.

The company intends to use the net proceeds from this offering for general corporate purposes, which may include research and development expenses, clinical trial expenses, capital expenditures and working capital.

The gross proceeds from the offering, before deducting the placement agent's fees and other offering expenses, are approximately $10 million.

See Also: Why Las Vegas Sands, Melco Resorts & Entertainment And Wynn Resorts Shares Are Seeing Blue Skies Tuesday

According to data from Benzinga Pro, HTGM has a 52-week high of $68.16 and a 52-week low of $2.38.