HTG Molecular Diagnostics Paces Nasdaq Gainers with Surge on CE Mark for Cancer Diagnostic

HTG Molecular Diagnostics Paces Nasdaq Gainers with Surge on CE Mark for Cancer Diagnostic

By: Dylan Sikes – AllPennyStocks.com News

Thursday, March 23, 2017

A government putting a stamp of approval on a product can certainly serve as a stock price catalyst. Take a look at HTG Molecular Diagnostics, Inc. (NASDAQ:HTGM) , whose share went ballistic Thursday on news that the European Union greenlighted the companies HTG EdgeSeq ALKPlus Assay EU.
The long-named product of the Tuscon-based company is an in vitro diagnostic assay for use to measure and analyze microRNA ALK gene rearrancgements for patients diagnosed with non-small cell lung cancer (NSCLC).   Furthermore, the assay is approved for use in helping identify patients for treatment with ALK therapies, like crizotinib.
Lung cancer is not just a problem in North America, it's a leading killing in Europe too, with about 390,000 new diagnoses every year.   Non-small cell lung cancer accounts for roughly 90% of all those diagnoses. With the benefits well known, regular testing for the ALK gene is now recommended for all NSCLC patients diagnosed with adenocarcinoma.
Shares of HTGM closed Wednesday at $2.14, but rocketed ahead in Thursday action, peaking at $4.90 before wrapping the day at $3.93 for a gain of 83.6%.


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