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) is a leader in the field of precision medicine, leveraging advanced molecular diagnostics and bioinformatics to address the pressing issue of infectious diseases. By utilizing their expansive Acuitas Lighthouse® knowledgebase, which contains pathogen data from around the globe, OpGen aims to revolutionize the management of infectious diseases and combat antibiotic resistance.
The company's core offerings include CLIA-certified clinical laboratory services that provide rapid detection and analysis of antibiotic resistance, as well as high-resolution microbial sequence analysis. Their FDA-cleared IVD products are instrumental in identifying pathogens in positive blood cultures swiftly and accurately.
OpGen's groundbreaking products and services are designed to guide healthcare professionals by providing rapid and actionable information about life-threatening infections. This ultimately helps to improve patient outcomes and reduce the spread of infections caused by multi-drug resistant organisms (MDROs). The company’s proprietary DNA tests and informatics tools are pivotal in optimizing care decisions for patients with acute infections.
Among its innovative solutions are the Unyvero platform and the ARES Technology Platform, which includes ARESdb, NGS technology, and AI-powered bioinformatics solutions such as ARESiss, ARESid, ARESasp, and AREScloud. These technologies collectively enhance the ability to predict antibiotic responses and manage infectious threats effectively.
OpGen also collaborates with its subsidiaries, Curetis GmbH and Ares Genetics GmbH, albeit both subsidiaries are currently undergoing insolvency proceedings under German and Austrian laws, respectively. Despite these challenges, OpGen continues to focus on developing and commercializing comprehensive molecular microbiology solutions.
Recent achievements of OpGen include the introduction of new features in their AREScloud technology, the announcement of their second and third-quarter financial results for 2023, and ongoing adjustments to their corporate strategy to navigate the dynamic healthcare landscape.
For more detailed information about the company and its latest developments, visit www.opgen.com.
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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