reports
- Sean Conroy
OpGen - Cash concerns dampen active Q2
Despite the active second quarter with developments across all operational fronts, OpGen’s cash concerns have increased the risk of the company as a going concern. With a cash balance of $3.2m at end Q223, OpGen has a cash runway into September 2023, meaning the need for immediate financing will be critical. Key quarterly highlights included the extension of the FIND R&D collaboration, a non-exclusive distribution agreement with Fisher Healthcare and new commercial contracts for both Unyvero and...
- Sean Conroy
OpGen - FIND collaboration advances to development
OpGen has announced that Curetis (its German subsidiary) has signed an extended R&D collaboration agreement with FIND following the successful completion of an extended feasibility study. The revised R&D agreement advances the collaboration from feasibility assessment to the initial phases of full in vitro diagnostic (IVD) product development, where the objective is to develop an antimicrobial resistance (AMR) IVD assay on an Unyvero A30 cartridge, along with analytical testing and software deve...
- Sean Conroy
OpGen - Feasibility milestone from FIND collaboration
OpGen has announced that Curetis (its German subsidiary) has met its objectives agreed under its extended R&D collaboration with FIND (a global non-profit alliance for diagnostics), triggering a $0.2m milestone payment to OpGen. Under the expanded scope of the feasibility study for the Unyvero A30 RQ platform, OpGen was required to provide three more deliverables: an antimicrobial stewardship module, a ‘data everywhere’ concept and next-generation sequencing (NGS) strain analysis. While successf...
- Sean Conroy
OpGen - Optimistic start to kick off a promising year
OpGen has reported a productive quarter marked by advancements across the board. Operating loss improved to $5.1m during the quarter (from $5.8m in Q122), driven by 94% y-o-y top-line growth (to $0.9m) and stronger cost controls (total expenses of $6.0m vs $6.3m in Q122). Looking ahead, we anticipate tailwinds from the post-period signing of the Unyvero distribution partnership with Fisher Healthcare and the de novo FDA submission for its UTI panel in April. While Unyvero and ARES will be the ke...
- Sean Conroy
OpGen - $3.5m fund-raise to extend runway
In a bid to strengthen its cash position, OpGen has announced a c $3.5m (gross) fund-raise through an equity issue, subject to shareholders’ approval and expected to close on or around 4 May 2023. As part of the offering, OpGen will issue 4.5m common shares (or pre-funded warrants) at $0.7785 per share (close to the last trading price of $0.7784/share) and a similar number of accompanying warrants. The warrants will be exercisable (if approved by shareholders) at a strike price of $0.7785 per sh...
- Sean Conroy
OpGen - FIND agreement milestones achieved
OpGen has announced that Curetis (its German subsidiary) has successfully met the remaining key milestones for Unyvero A30 RQ under the initial R&D collaboration with FIND (a global non-profit alliance for diagnostics), triggering a $0.3m milestone payment to OpGen. This development follows the achievement of certain other key milestones in January 2023. While OpGen is still working on the next set of deliverables under the expanded scope of R&D agreement (April 2023), the successful completion ...
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