|Over a week ago|
OpGen price target lowered to $3 from $4.35 at Alliance Global Partners » 07:0401/1201/12/22
Alliance Global Partners…
Alliance Global Partners analyst Ben Haynor lowered the firm's price target on OpGen (OPGN) to $3 from $4.35 due "entirely" to a reduction in his valuation multiple to reflect the recent re-rating of small-cap diagnostic firm valuation multiples. However, he keeps a Buy rating on the shares, stating that he is encouraged by the company's clinical and regulatory progress as well as the validation received by the extension of the Ares and Sandoz (NVS) collaboration agreement into 2025.
OpGen sees Q4 revenue $1.4M, two estimate $900,000 » 07:4101/1001/10/22
Oliver Schacht, President…
Oliver Schacht, President & CEO of OpGen, commented, "We are pleased with our fourth quarter and full year 2021 preliminary results and are off to a solid start in 2022. With our much improved cash position and existing network of global partnerships, we are convinced that across our portfolio of products and services we have the potential to see them contribute significantly to our growth in the year ahead. I am especially excited about upcoming key milestones such as Chinese clinical study data and pending NMPA approval decision, our Unyvero UTI clinical trial and anticipated FDA submission, the Unyvero A30 platform development and partnering milestones and Ares Genetics' commercial expansion in Europe as well as here in the U.S. with the recent addition of our SVP Corporate Development and Operations for Ares." He added: "We continue our dialog with the European Investment Bank regarding the various options to structure a repayment - either in cash or in equity or a combination thereof - of the loan outstanding. The first tranche matures and is due for repayment in April 2022."
OpGen sees FY21 revenue $4.3M, consensus $3.8M » 07:4001/1001/10/22
OpGen's cash position as of December 31, 2021 was approximately $36.1M, a significant increase from $13.3M as of December 31, 2020.
|Over a month ago|
OpGen subsidiary Ares Genetics announces expansion of ARESdb » 07:4212/1412/14/21
OpGen announced that its…
OpGen announced that its subsidiary, Ares Genetics, has successfully completed Phase 1 of its collaboration with a U.S. CRO and reference lab, originally announced in August. During Phase 2, Ares will gain access to 1,000 proprietary genome and AST datasets thereby strategically enriching ARESdb with proprietary data for key pathogens. Ares Genetics has developed ARESdb, a leading database on antimicrobial resistance, AMR. ARESdb not only comprehensively collects known genetic markers for AMR, but also harbors more than 78,000 datasets essential for the development and training of predictive models. This is up by over 40% from around 55,000 datasets a year ago. OpGen CEO Oliver Schacht added: "Ares will also be applying its next generation sequencing and AI-powered bioinformatics capabilities to analyze the clinical patient samples collected during OpGen's Unyvero UTI clinical trial in the U.S. which will further expand the unique and proprietary contents of ARESdb. We expect Ares to become one of the key drivers of growth for OpGen in the coming years as we also seek to expand the commercial footprint and activities of Ares in the U.S. beginning in January of 2022."
OpGen subsidiary Ares Genetics announces database access transaction » 08:4811/3011/30/21
OpGen announced that its…
OpGen announced that its subsidiary Ares Genetics entered into a strategic database access transaction with an unnamed global corporation and leader in microbiology and infectious disease diagnostics. Under the terms of the agreement, the unnamed IVD corporation gains immediate, permanent, unrestricted and non-exclusive access to a small subset constituting approximately 1.1% of the total current database content of Ares Genetics' proprietary ARESdb. Under the terms of the agreement, Ares Genetics grants the global IVD corporation access to an ARESdb subset of associated genotype and AMR phenotype data for a narrowly defined and non-disclosed group of pathogens implicated in a widespread type of infections resistant to treatment. For the subset, corresponding to ~1.1% of total ARESdb content, the unnamed IVD corporation pays Ares Genetics an undisclosed one-time data generation, data transfer and data access fee. Oliver Schacht, CEO of OpGen added, "In just a couple of quarters Arne Materna has transformed Ares Genetics from a research stage technology business into a commercially driven part of OpGen. This transaction is yet another example of the growing commercial traction and adds this global leader to the list of collaborations and deals that Ares has with Sandoz, QIAGEN and others. Looking at the value proposition it is clear that the implied value of ARESdb is far greater than the intangible asset value carried on our balance sheet for Ares Genetics and this may help crystallize the promise of future value creation that we expect to deliver to be communicated and appreciated in the eyes of the markets."
OpGen appoints Albert Weber as CFO » 08:0611/0411/04/21
OpGen announced the…
OpGen announced the appointment of Albert Weber as OpGen's new Chief Financial Officer and Managing Director of OpGen's subsidiary Curetis GmbH effective January 1, 2022. Mr. Weber is a corporate finance executive who brings more than 30 years of professional experience in accounting, controlling and corporate finance roles. During the last 21 years, he served in several roles for Epigenomics AG, a molecular diagnostics company listed on the Frankfurt Stock Exchange, with operations in the United States and Germany. Since 2018, Mr. Weber served as Executive Officer and Executive Board member and EVP Finance. Mr. Weber will initially be based in Germany and work primarily out of the Company's Curetis GmbH office in Holzgerlingen near Stuttgart, but expects to spend a significant amount of time at the U.S. headquarters in 2022 and beyond as he will oversee and manage the global finance teams in their entirety. Inducement Grant under NASDAQ Listing Rule 5635(c)(4) In connection with the appointment of Mr. Weber, OpGen granted Mr. Weber an inducement grant of stock options to purchase an aggregate of 210,00 shares of OpGen's common stock with a grant date of January 3, 2022. The equity award was granted pursuant to Nasdaq Listing Rule 5635(c)(4) inducement grant exception as a component of Mr. Weber's employment compensation and was granted as an inducement material to his acceptance of employment with OpGen. The options will have an exercise price equal to the closing price of OpGen's common stock as reported on Nasdaq on January 3, 2022, the first trading day after Mr. Weber's start date. The option award will vest over a four-year period with 25% vesting on the first anniversary of the date of grant and in equal quarterly installments on each quarterly anniversary thereafter. The award is subject to Mr. Weber's continued service with OpGen through the applicable vesting dates.
OpGen announces special meeting of stockholders » 08:0211/0411/04/21
OpGen announced it has…
OpGen announced it has scheduled a Special Meeting of stockholders for December 8, 2021 at 10:00 a.m., Eastern time, to approve its proposed increase of the number of authorized shares of common stock from 50 million to 100 million and to reduce the stockholder approval requirement for changes to the Company's Amended and Restated Certificate of Incorporation, as amended, to a majority of the outstanding shares entitled to vote. The proposal to increase the Company's authorized shares of common stock and reduce the stockholder approval requirement is set forth in the Company's Definitive Proxy Statement filed with the Securities and Exchange Commission on October 29, 2021.
|Over a quarter ago|
OpGen subsidiary Ares Genetics launches AREScloud » 07:4610/2110/21/21
OpGen announced that its…
OpGen announced that its subsidiary Ares Genetics has commercially launched its AREScloud web application. "The advantage of whole genome sequencing over other molecular tests such as PCR resides in the technique's potential to provide in a single assay sensitive and precise information on pathogen identity along with information on AMR and virulence," says Dr. Arne Materna, CEO of Ares Genetics. "The challenge of many microbiology laboratories resides in converting WGS-derived complex genome data into actionable information on pathogen identity and AMR, along with treatment options and transmission potential." AREScloud fully automates data processing - from raw sequence data to report - and offers insights into epidemiologically and etiologically relevant information including pathogen identity, genotype, virulence, plasmids, and AMR. In addition to generating individual sample reports, the AREScloud version that has now been commercially released for the first time introduces unique features for comparative and outbreak analysis.
OpGen raises $15M ion a registered direct offering » 08:0310/1410/14/21
OpGen announced that it…
OpGen announced that it has entered into a definitive agreement with a single healthcare-focused institutional investor for the issuance and sale of an aggregate of 150,000 shares of convertible preferred stock and warrants to purchase up to an aggregate of 7,500,000 shares of common stock for gross proceeds of $15 million in a registered direct offering. The shares of preferred stock will have a stated value of $100 per share and are convertible into an aggregate of 7,500,000 shares of common stock at a conversion price of $2.00 per share at any time after the Company has received shareholder approval to increase the number of authorized shares of common stock of the Company. The warrants have an exercise price of $2.05 per share, will become exercisable on the later of the date of shareholder approval and six months following the date of issuance, and will expire five years following the initial exercise date. The closing of the offering is expected to occur on or about October 18, 2021, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
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