• our ability to successfully commercialize our products, services and

technology, including our HTG EdgeSeq assays and corresponding automation

systems, our transcriptome product which has been designed to measure

approximately 20,000 mRNA targets using our HTG EdgeSeq technology ("HTG

• our ability to generate sufficient revenue or raise additional capital to

meet our working capital needs;

• our ability to generate revenue from our products and services and drive

• our ability to develop new technologies to expand our product offerings,

including direct-target sequencing for detection of mutations from expressed

RNA (such as single-point mutations and gene rearrangements, including gene

design and development projects and programs, and the expected benefits and

outcomes of such projects and programs;

• the implementation of our business model and strategic plans for our

business, including, without limitation, our drug discovery business unit,

• the expected capabilities and performance of our HTP, our epitranscriptome

profiling technology and HTG Therapeutics business unit;

• the regulatory landscape for our products, domestically and internationally;

• our strategic relationships, including with holders of intellectual property

relevant to our technologies, manufacturers of next-generation sequencing

("NGS") instruments and consumables, critical component suppliers,

distributors of our products, and third parties who conduct our clinical

• our ability to comply with the restrictions of our debt facility and meet

• our expectations regarding the market size and growth potential for our

profiling and drug discovery businesses;

• our expectations regarding trends in the demand for sample processing by our

• our ability to secure regulatory clearance or approval, domestically and

internationally, for the clinical use of our products;

• any estimates regarding expenses, future revenue and capital requirements;

• our ability to sustain and manage growth, including our ability to develop

new products and enter new markets.

Revenue and Commercialization of our Profiling Products

Comparison of the three months ended March 31, 2022 and 2021

Product and Product-Related Services Revenue

Total product and product-related services revenue $ 1,184,454

Cost of product and product-related services revenue

Selling, general and administrative expenses

Cash Flows for the three months ended March 31, 2022 and 2021

The following table summarizes the primary sources and uses of cash for each of the periods presented:

(9,732 ) 6,162 (63 %) Increase (decrease) in cash and cash equivalents $ 5,014,477 $ (620,125 ) $ 5,634,602 (909 %)

Contractual Obligations, Commitments and Material Cash Requirements

Our primary capital needs, including contractual obligations and commitments, which are subject to change, include:

• Debt Obligations - As of March 31, 2022, our outstanding debt balance was

$9.0 million. See note 8, "Debt Obligations" within our condensed

consolidated financial statements for further detail of our debt and the

timing of expected future payments.

• NuvoGen Obligation - As of March 31, 2022, our NuvoGen obligation balance

was $4.3 million. See Note 10, "Other Agreements" within our condensed

• Operating Leases - As of March 31, 2022, our contractual commitment for

operating leases was $1.3 million. See Note 11, "Leases" within our

condensed consolidated financial statements for further detail of our

lease obligations and the timing of expected future payments, including a

• Planned costs to operating our business, including amounts required to

fund working capital and capital expenditures;

• Support of commercialization efforts related to our current and future

• Continued advancement of research and development efforts, including those

related to our planned transcriptome panel.

See Note 2. Summary of Significant Accounting Policies - Recently Adopted and Recently Issued Accounting Pronouncements in the notes to the condensed consolidated financial statements included in this Quarterly Report on Form 10-Q.

Critical Accounting Policies and Significant Judgments and Critical Accounting Estimates

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