Welcome to our dedicated page for Opgen news (Ticker: OPGN), a resource for investors and traders seeking the latest updates and insights on Opgen stock.
OpGen, Inc. (NASDAQ: OPGN) regularly issues news and regulatory updates that describe its activities in precision medicine, molecular diagnostics, and bioinformatics for infectious disease and antimicrobial resistance. This news page aggregates those disclosures so readers can review how the company presents its business focus, collaborations, financings, and operational changes over time.
Company announcements have covered topics such as research and development collaborations involving antimicrobial resistance panels and genomic surveillance, feature releases for the AREScloud platform, and work related to the Unyvero systems and ARES Technology Platform. OpGen’s releases also discuss financial performance, cash management initiatives, and its own statements about substantial doubt regarding its ability to continue as a going concern, along with potential strategic alternatives it is considering.
Investors and observers can also find information here on equity and financing transactions, including preferred stock financings, warrant inducement agreements, and a securities purchase agreement that allows OpGen to sell common stock to an investor over time. Additional news items describe insolvency proceedings of subsidiaries Curetis GmbH and Ares Genetics GmbH, the sale of their assets by insolvency trustees, and agreements to transfer commercial customer contracts and installed Unyvero systems.
Corporate governance and management changes are another recurring theme in OpGen’s news, including appointments and resignations of directors and executive officers and a 1‑for‑10 reverse stock split intended, according to the company, to support compliance with Nasdaq’s minimum bid price requirement. This page allows readers to follow these developments through the company’s own published statements.
OpGen has received a notice from Nasdaq for not filing its quarterly report on Form 10-Q for the period ending March 31, 2024. This adds to OpGen's prior issues of not filing its annual report for 2023 on time and failing to maintain a minimum bid price of $1.00 per share. The Nasdaq Hearings Panel has given OpGen until June 3, 2024, to resolve these compliance issues. While the company is taking steps to address the concerns, the notice currently has no immediate impact on the trading of its stock on Nasdaq.
OpGen announced a 1-for-10 reverse stock split effective May 20, 2024. The split aims to increase the market price per share to meet Nasdaq's $1.00 minimum bid price requirement. The company's common stock will trade under the symbol 'OPGN' with a new CUSIP number, 68373L505. The split will reduce the number of outstanding shares from approximately 12.6 million to about 1.26 million. All stockholders will be affected proportionally, and fractional shares will be rounded up. Pacific Stock Transfer Company will manage the exchange of shares.
OpGen, Inc. announced the sale of its commercial customer contracts and Unyvero systems to Camtech Pte for $218,000. Additionally, Ares Genetics GmbH sold its assets to bioMerieux S.A. OpGen plans to work with Camtech and Curetis team to transfer U.S. Unyvero customers. OpGen also offered Camtech the opportunity to acquire its remaining inventory for $176,000. OpGen's CEO sees these transactions as preparation for potential strategic transactions like a reverse merger.
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