OpGen Inc. Provides a Business Update

Oct 4, 2021 By MarketDepth

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OpGen, Inc. (NASDAQ: OPGN) today announced its preliminary unaudited revenue and cash position as well as shared a business update with its shareholders. 

Revenue Grew

The company’s preliminary unaudited revenue grew from $1.1 million in Q3 2020 to approx. $1.2 million in Q3 2021. Meanwhile, its cash as of Sept. 30, 2021 was approx. $25.4 million, up from its previous figure of $13.4 million as of Dec. 31, 2020. 

New CFO Found

OpGen has also announced that it has concluded its search for a new CFO and will announce the selectee once the appointment has been formalized. Furthemore, the company had initiated a prospective multicenter clinical trial in the U.S. for the Unyvero UTI application, received a 510(k) FDA clearance for its Acuitas AMR Gene Panel and filed a universal shelf registration statement on Form S-3 for up to $ 150 million in 2021. 

“Together with our board, we are continuing to evaluate alternatives for financing the future growth of OpGen and believe these are steps that will help drive the company forward and on its desired path.”

Oliver Schacht, Ph.D., CEO of OpGen Inc.