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 revenue streams;
the impact of the COVID-19 pandemic ("COVID-19") on our business;
the implementation of our business model and strategic plans for our business, including, without limitation, our drug discovery business unit, HTG Therapeutics;
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 ability to comply with the restrictions of our debt facility and meet our debt obligations;
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 biopharmaceutical company customers;
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; and
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 and six months ended June 30, 2022 and 2021
Product and Product-Related Services Revenue
Cost of product and product-related services revenue
Selling, general and administrative expenses
Cash Flows for the six months ended June 30, 2022 and 2021
Decrease in cash and cash equivalents $ (3,843,372 ) $ (8,821,367 ) $ 4,977,995
Net cash used in investing activities for the six months ended June 30, 2021 was $10.1 million and was comprised primarily of purchases of $16.2 million of available-for-sale securities, partially offset by $6.3 million of our available-for-sale securities maturing during the period.
Contractual Obligations, Commitments and Material Cash Requirements
Our primary capital needs, including contractual obligations and commitments, which are subject to change, include:
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 products; and
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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