HTG Molecular Diagnostics, which markets a diagnostic platform for complex molecular profiling, raised $50 million by offering 3.6 million shares at $14, the midpoint of its $13 to $15 range. It priced and began trading on Wednesday.
The week's other diagnostics IPO, OpGen (OPGN), priced and began trading on Tuesday. The company slashed its valuation by pricing 33% below the midpoint and then fell 19% on its first day, giving it the year's second worst first-day performance behind Bellerophon Therapeutics (BLPH).
HTG Molecular Diagnostics plans to list on the NASDAQ under the symbol HTGM. Leerink Partners acted as lead manager on the deal.
