OpGen

US: OPGN

Market Cap$27m

Last Close $0.57

OpGen is focused on revolutionising the identification and treatment of bacterial infections. Following the merger with Curetis, it has technology to detect pathogens and predict resistance. Importantly, the AMR Gene Panel and Unyvero platforms have the ability to provide results in hours instead of days.

Investment summary

OpGen is a diagnostics company focused on the identification and treatment of bacterial infections. It has a broad product portfolio of molecular diagnostic tests including the Unyvero platform with five CE-IVD-marked tests and two cartridges cleared by the FDA; Ares Genetics’ next-generation antimicrobial resistance (AMR) testing services; 510(k) cleared Acuitas AMR Gene Panel in bacterial isolates; and ARESdb (AI-powered AMR database). OpGen’s products are differentiated by their short turnaround time, large range of pathogen detection and AMR profiling. For FY22, the management has guided for 25–50% (y-o-y) growth from products and services primarily driven by improved traction in the US.

Y/E Dec	Revenue (US$m)	EBITDA (US$m)	PBT (US$m)	EPS (c)	P/E (x)	P/CF (x)
2020A	4.2	(19.6)	(24.7)	(157.43)	N/A	N/A
2021A	4.3	(20.4)	(35.7)	(117.12)	N/A	N/A
2022E	5.0	(17.4)	(22.8)	(49.02)	N/A	N/A
2023E	8.1	(13.9)	(19.0)	(40.88)	N/A	N/A

Industry outlook

It currently takes days to test a patient sample to find out if they have an infection, what they are infected with and to which drugs that infection might be susceptible. This can lead to a delay in treatment or the wrong treatment being prescribed. According to the Centers for Disease Control and Prevention, there are over two million cases of drug-resistant bacterial infections every year.

Last updated on 01/07/2022