Shares of the life science company HTG Molecular Diagnostics Inc. (HTGM), whose mission is to advance precision medicine, has gained 8.57% in Monday’s session to $5.83. HTGM stock closed last trading session at $5.37. The trading volume recorded by HTGM stock was 0.24 million shares, which is higher than the 0.1 million shares average trading volume for the past 50 days.
HTGM stock has gained 6.13% in the last five days but has lost -4.79% over the last month. Over the last three months, the HTGM stock price has gained 24.59 percent, and since the beginning of the year, it has gained 12.11 percent. Announcing inducement grants led to a rise in HTGM.
HTGM Stock has announced what?
HTGM specializes in molecular profiling utilizing next-generation sequencing or NGS. Utilizing HTG EdgeSeq technology, HTGM’s proprietary molecular profiling method, automatic, highly multiplex molecular profiling can be performed from solid or liquid samples, despite the limited amount of sample. In the long run, HTGM is used by its customers to identify biomarkers for precision medicine, understand how these discoveries translate into clinical practice, and ultimately to identify treatments.
HTG Molecular recently announced that two incentive stock option awards were granted by HTGM’s Compensation Committee on July 13th and July 22nd, 2021.
- In total, these awards were for the purchase of 30,000 shares of common stock by two newly hired employees who joined HTGM recently.
- The exercise prices for these stock options are $5.85 per share and $5.42 per share, respectively, which is the closing trading price of HTGM on the date they are granted.
- One-quarter of the shares vests on the anniversary of the vesting commencement date for both inducement awards, with the remaining 3/4th vesting over the next three years.
- Upon vesting commencement, the balance of the shares will vest in twelve successive, equal quarterly installments on the last day of each calendar quarter, to begin on the last day of the quarter following the one-year anniversary of the applicable vesting commencement date.
- HTGM also required the employee to maintain a service relationship with HTGM through their vesting dates in order to keep the award.
- The stock options have a 10-year term and are subject to the terms and conditions outlined in HTGM’s 2021 Inducement Plan, approved by HTG’s Board of Directors on July 1, 2021.
Why HTGM granted the awards?
As part of the inducement grant of nonstatutory stock options, the awards by HTG Molecular (HTGM) are also subject to standard form agreements. As required by Nasdaq Listing Rules, the stock options were granted to new employees as inducements material to them to apply for employment with HTGM.
