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, Inc. (Nasdaq: OPGN) announced that its subsidiary, Curetis GmbH, has received CE mark certification for its SARS-CoV-2 Kit with PULB, enabling effective COVID-19 testing in Europe. This kit utilizes real-time PCR technology and boasts 100% sensitivity and 97.3% specificity. Designed for rapid results in about one hour, it streamlines laboratory workflows by minimizing the need for extraction equipment due to the inclusion of a universal lysis buffer. The company aims to enhance testing capacity in CE-mark-recognizing countries, replacing the BGI SARS-CoV-2 test kit immediately.
OpGen, Inc. (Nasdaq: OPGN) reported Q2 2020 revenue of approximately $1.2 million, up from $1.0 million in Q2 2019. Cash on hand increased to $12.9 million from $11.5 million in Q1 2020. The company announced a strategic co-promotion partnership with Menarini Silicon Biosystems for COVID-19 products, enhancing its market presence. However, Q2 operating expenses surged to $7.7 million from $3.6 million, resulting in a net loss of $7.5 million or $0.49 per share.
OpGen, Inc. (NASDAQ: OPGN) has initiated a non-exclusive co-promotion agreement with Menarini Silicon Biosystems to market select products to healthcare providers in the U.S., Canada, and Mexico. Key products include the CELLSEARCH system and a COVID-19 IgG/IgM Rapid Test, which provides results in 10 minutes and has received FDA emergency use authorization. Under the agreement, OpGen will earn payments based on MSB’s net sales from referrals. The collaboration aims to broaden the COVID-19 product portfolio offered by OpGen.
OpGen, Inc. (NASDAQ: OPGN) will provide a business update and report its second quarter 2020 financial results on August 12, 2020, after market close. A live conference call and audio webcast will be hosted at 4:30 PM ET to discuss these results and business activities. Investors can join the call using the U.S. dial-in number +1 (877) 705 6003 or the international number +1 (201) 493 6725. A replay will be available until August 26, 2020, for those unable to attend the live session.
OpGen has formed a strategic partnership with Menarini Silicon Biosystems to co-promote the CELLSEARCH Circulating Endothelial Cell Kit and other COVID-19 related products. Effective immediately, OpGen will market these products to healthcare providers in North America. This partnership aims to enhance the understanding of COVID-19 progression through CEC enumeration, potentially identifying patients at risk of severe complications. Both companies plan to expand their portfolio of COVID-19 products in the upcoming months.
OpGen announced an amendment to its EIB financing agreement allowing its subsidiary Curetis GmbH to access an additional EUR 5 million for COVID-19 related R&D. This non-dilutive debt will fund various platforms over a five-year interest-only period. The drawdown is at Curetis' discretion within nine months, with a 0.7% participation interest in OpGen's equity at maturity, expected between H2-2025 and early 2027. CEO Oliver Schacht emphasized the importance of this funding in advancing R&D efforts against infectious diseases.
OpGen announced preliminary data demonstrating a 98.2% concordance rate of its Unyvero HPN Panel for pneumonia when compared to bacterial culture in identifying pathogens in COVID-19 ICU patients. The study, conducted with Karolinska Institutet, highlighted that 25% of patients had bacterial co-infections. The Unyvero system provided results in five hours instead of days, enabling quicker treatment decisions and supporting antimicrobial stewardship. The panel detects 21 pathogens and 19 resistance markers, significantly improving time-sensitive diagnosis for critical patients.
OpGen is entering the second year of its collaboration with the New York State Department of Health to enhance the detection and management of antimicrobial-resistant infections. The project will utilize the Acuitas® AMR Gene Panel and Acuitas Lighthouse® Software across multiple healthcare institutions. The total contract value is up to $450,000, including 3,500 tests. OpGen aims to improve patient outcomes and save healthcare costs by integrating real-time surveillance and rapid resistance results. This project expands on successful pilot phase achievements, with an emphasis on molecular epidemiology for early outbreak identification.
OpGen, Inc. (Nasdaq: OPGN) has introduced its new CEO Oliver Schacht and Chairman William Rhodes in letters to shareholders. The company is focused on integrating its business with the recent acquisition of Curetis and Ares Genetics while pursuing growth and operational efficiency. Key milestones include the anticipated FDA clearance for the Acuitas AMR Gene Panel and the launch of the Unyvero A30 RQ platform. OpGen aims to leverage AI-powered diagnostics to combat antibiotic resistance and enhance stockholder value through innovative solutions and strategic partnerships.
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