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HTG Molecular Diagnostics, Inc. (HTGM) stock exploded last week after the company obtained the CE Mark for its HTG EdgeSeq ALKPlus Assay EU. Shares rallied from about $2 to over $12 on heavy volume. This stock was undervalued and should continue to see wild swings going forward. There are some big companies investing in HTGM right now.
Novo Nordisk (NVO)
HTG Molecular Diagnostics, Inc. (Nasdaq:HTGM), a provider of instruments, reagents, and services for molecular profiling applications, today announced that it has obtained CE marking in the European Union for its HTG EdgeSeq ALKPlus Assay EU.
The HTG EdgeSeq ALKPlus Assay EU is an in vitro diagnostic assay intended to measure and analyze mRNA ALK gene rearrangements in formalin-fixed, paraffin-embedded lung tumor specimens from patients previously diagnosed with non-small cell lung cancer (NSCLC). The assay may be used to aid in the identification of patients eligible for treatment with ALK-targeted therapeutics, such as crizotinib, and is automated on the HTG EdgeSeq system using a next-generation sequencer for detection.
Lung cancer is a leading cause of cancer death in men and women worldwide. In Europe, approximately 391,000 people were diagnosed with lung cancer in a single year, according to the European Society for Medical Oncology, and NSCLC accounts for 85 to 90% of all lung cancer cases. Due to the important therapeutic implications, routine testing for rearrangement in the ALK gene is now recommended for all NSCLC patients diagnosed with adenocarcinoma.
"We are pleased to add the HTG EdgeSeq ALKPlus Assay EU to our diagnostic assay menu in Europe,” stated TJ Johnson, HTG’s President and CEO. “Lung cancer is a significant global health problem and an important focus area for HTG. We plan to offer this assay to selected European early adopters as we seek additional regulatory approvals elsewhere.”
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HTGM is now a strong buy in the $4's for the next big bounce