OPGEN INC - OPGN STOCK NEWS

OpGen, Inc. (NASDAQ: OPGN) announced a business update alongside its fourth quarter and full year 2021 financial results to be reported after the U.S. markets close on March 29, 2022. A live conference call and audio webcast will take place at 4:30 PM ET to discuss financial outcomes and business updates. Following the call, a replay will be available until April 12, 2022. OpGen specializes in molecular diagnostics and bioinformatics to tackle infectious diseases, focusing on solutions for multidrug-resistant microorganisms.

OpGen, Inc. (Nasdaq: OPGN) announced a new publication demonstrating that the Acuitas AMR Gene Panel effectively detects 28 antimicrobial resistance (AMR) markers linked to various antimicrobial classes. This FDA-cleared diagnostic tool delivers results within 2.5 hours, significantly faster than traditional methods, aiding in patient management and antibiotic stewardship. The study showed a positive agreement of ≥ 94.4% and negative agreement of ≥ 96.5% compared to whole genome sequencing standards. This innovation marks a milestone in combating AMR pathogens in clinical settings.

OpGen, a precision medicine company, announced a significant milestone with its Unyvero A30 RQ platform. The instruments successfully completed verification and validation (V&V) testing, meeting all required criteria for series production. This achievement was supported by extensive lifetime testing of mechanical components, with rigorous stress conditions applied, including almost 1 million PCR cycles. CEO Oliver Schacht highlighted the readiness for clinical trials and regulatory submissions later in 2022. This development paves the way for future partnerships and commercialization efforts in the healthcare sector.

OpGen, a precision medicine company, announces its participation in Edison Group's virtual Open House Event from January 25-27, 2022. This three-day event, organized in collaboration with the London Stock Exchange and others, will showcase 33 companies. Each day will focus on different sectors: pharmaceuticals and drug discovery, AI and technology in healthcare, and innovative solutions for complex problems. Content will be available on-demand starting January 27, with registration details provided. OpGen aims to enhance diagnostic solutions for infectious diseases.

OpGen reported preliminary unaudited revenue of approximately $4.3 million for 2021, slightly up from $4.2 million in 2020. The fourth-quarter revenue was stable at $1.4 million, despite exiting the FISH business, which had contributed $0.7 million in Q4 2020. The company boasts a strong cash position with $36.1 million as of December 31, 2021. Key developments included the conversion of 150,000 preferred shares into 7.5 million common shares, and advancements in clinical trials and partnerships aimed at addressing antimicrobial resistance.

OpGen, Inc. (Nasdaq: OPGN) announced that its subsidiary, Ares Genetics, has successfully completed Phase 1 of its collaboration with a leading U.S. CRO and reference lab and is now entering Phase 2. This phase grants access to 1,000 proprietary clinical isolates aimed at enriching ARESdb, which has grown over 40% in the past year. Ares employs AI to predict antibiotic resistance, crucial for addressing the public health threat of antimicrobial resistance (AMR). The company expects this collaboration to enhance its offerings and drive growth in 2022.

OpGen, Inc. (Nasdaq: OPGN) announced stockholder approval for two key proposals at its Special Meeting on December 8, 2021. The first proposal modifies the approval requirement for changes to the Amended Certificate of Incorporation to a majority of outstanding shares. The second proposal increases the authorized shares of common stock from 50 million to 100 million. Approximately 99.3% of voting power supported the first proposal, while 79.8% favored the second. CEO Oliver Schacht remarked that this flexibility is crucial for future growth and capital raising.

Ares Genetics, a subsidiary of OpGen, Inc. (OPGN), announced a strategic agreement granting a global leader in microbiology permanent access to approximately 1.1% of its proprietary ARESdb data. This transaction focuses on specific pathogens related to resistant bacterial infections and includes a one-time fee. The deal highlights the value of ARESdb, which houses extensive antimicrobial resistance (AMR) data. Ares Genetics aims to use its AI capabilities for AMR marker discovery and genomic data analysis to combat infections, crucial in addressing public health threats from AMR.

OpGen reported Q3 2021 revenue of approximately $1.24 million, a 17% increase from Q3 2020. The cash balance rose significantly to $25.4 million as of September 30, 2021, bolstered by a $15 million financing completed in October. Key milestones include FDA clearance for the Acuitas AMR Gene Panel, launching AREScloud software, and a new CFO appointment. The net loss narrowed to $6.1 million in Q3 2021 from $7.7 million in Q3 2020. OpGen remains focused on enhancing its commercial operations and future clinical trials.