OpGen (NASDAQ: OPGN)

Last close As at 20/06/2024

USD0.49

0.05 (11.62%)

Market capitalisation

USD7m

OpGen is primarily a lab diagnostic manufacturer focused on identifying and treating bacterial infections. It has the technology to detect pathogens and predict resistance. Through the dual platform offering of the AMR Gene Panel and Unyvero, it can provide diagnostic results in hours instead of days.

Latest Insights

View More

Healthcare | Update

OpGen — Cash concerns dampen active Q2

Healthcare | Flash note

OpGen — FIND collaboration advances to development

Healthcare | Flash note

OpGen — Feasibility milestone from FIND collaboration

Healthcare | Update

OpGen — Optimistic start to kick off a promising year

Laboratory Opgen

Sector

Healthcare

Equity Analyst

Soo Romanoff

Soo Romanoff

Managing Director - Head of Content, Healthcare

Nidhi Singh

Nidhi Singh

Analyst

Arron Aatkar

Associate analyst

Jyoti Prakash

Jyoti Prakash

Analyst, Healthcare

Key Management

  • Albert Weber

    CFO

  • Oliver Schacht

    CEO

Balance Sheet

Forecast net debt (US$m)

N/A

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (23.9) 7.7 (30.0)
Relative (27.5) 1.8 (45.7)
52 week high/low US$1.2/US$0.2

Financials

Despite the active second quarter with developments across all operational fronts, OpGen’s cash concerns have increased the risk of the company as a going concern. With a cash balance of $3.2m at end Q223, OpGen has a cash runway into September 2023, meaning the need for immediate financing will be critical. Key quarterly highlights included the extension of the FIND R&D collaboration, a non-exclusive distribution agreement with Fisher Healthcare and new commercial contracts for both Unyvero and ARES services. While topline growth was a little subdued year-on-year due to one-off income in Q222, the operating loss for the period slightly improved to $5.2m (vs $5.3m in Q222), reflecting tighter cost controls and low clinical activity. If management is able to bridge the funding gap, its efforts in building the commercial groundwork could benefit the second half of the year across Unyvero, Acuitas and ARES. Due to the funding announcement, we have put our estimates and valuation on hold and will reassess as financing updates become available.

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (c) P/E (x) P/CF (x)
2021A 4.3 (20.4) (35.7) (1946.77) N/A N/A
2022A 2.6 (20.6) (25.3) (1036.81) N/A N/A
2023E N/A N/A N/A N/A N/A N/A
2024E N/A N/A N/A N/A N/A N/A

Research

Update

Healthcare

OpGen — Optimistic start to kick off a promising year

Flash note

Healthcare

OpGen — $3.5m fund-raise to extend runway

Flash note

Healthcare

OpGen — FIND agreement milestones achieved

Flash note

Healthcare

OpGen — Expansion of FIND R&D collaboration

Laboratory Opgen

Flash note

Healthcare

OpGen — Interim milestone achieved for R&D collaboration

Update

Healthcare

OpGen — Forecasts reset ahead of busy 2023

Laboratory Opgen

Flash note

Healthcare

OpGen — FY22 wrap offers key operational takeaways

Further insights

insight

Healthcare

An update on OpGen: Deals, expansion and revenues

insight

Healthcare

Healthcare Week 2023

insight

Healthcare

OpGen CEO Oliver Schacht on OpGen’s $15m capital raise

insight

Healthcare

Nine things investors need to know about OpGen

Thematics

thematic

Healthcare

Deutsches Eigenkapitalforum (EKF) 2023 healthcare

volition01

thematic

Healthcare

VolitionRx – Decoding the DNA of cancer 

thematic

Healthcare

ASCO 2023 key takeaways

Subscribe to Edison

Get access to the very latest content matched to your personal investment style.

Sign up for free