OpGen - Re-acceleration with momentum in the back half
OpGen’s Q222 revenue growth re-accelerated with the post-pandemic normalization in demand. Revenues of $0.97m increased 19% y-o-y, largely driven by strength in its core offering, Unyvero. Management announced several notable wins that provide momentum to close the back half of the year strong, including the signing of two commercial Acuitas AMR Gene Panel contracts, extension of the Unyvero distribution agreement with Menarini in Europe, new distribution agreements in the Middle East and Kosovo, and the steady growth of subsidiary Ares Genetics. Incorporating the quarterly results, lower net cash balance and a higher share count (following the initial utilization of the $10.7m at-the-market sales facility) lowers our valuation to $1.7/share (vs $2.0/share previously).
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.