The HTG Molecular Diagnostics Inc (NASDAQ: HTGM) stock price soared 181.5% after announcing that it would hold its next HTG Therapeutics key opinion leader (KOL) webinar tomorrow.
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The webinar titled: “The Role of RNA Profiling in Drug Discovery and Analysis” will be held on Tuesday, December 13, 2022, at 11:00 am Eastern Standard Time.
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The announcement on Friday triggered a 117.57% rally in HTGM stock as investors eagerly anticipated the event. The bullish momentum continued into the premarket trading session today, where the stock surged over 200% before retracing some of its gains.
So, the question is, why did investors react so positively to this announcement? The simple answer is that apart from discussing the use of RNA profiling in the drug discovery process to understand mechanisms of action better and refine drug screening.
HTG will also present results from applying its transcriptome-informed drug discovery process.
Most people expect the company to present breakthrough results backed by its innovative processes, which explains the two-day rally, which is likely to persist until tomorrow after the presentation.
The company will be represented by key opinion leader (KOL) Dr Robert Spitale, PhD, from the University of California – Irvine. Investors are looking forward to Dr Spitale’s presentation, which is bound to have a lot of new information regarding the use of RNA profiling in drug discovery.
HTG revealed that it was applying RNA profiling within its transcriptome-informed drug discovery process and had discovered differential regulation of the ferroptosis pathway by structurally similar compounds that target mTOR.
The company plans to present data from the above process tomorrow, including the outcomes.
HTGM shares remain quite popular among investors as over 19 million had changed hands at writing and the buying momentum was still robust. However, I wouldn’t buy the shares after the recent parabolic rally, typically followed by a significant pullback.
HTG Molecular (HTGM) stock price.
The HTG Molecular (HTGM) stock price soared 181.48% to trade at $152, rising from Friday’s closing price of $0.54.
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