Last close As at 05/08/2026
USD5.00
▲ −1.80 (−26.47%)
Market capitalisation
USD62m
Research: Healthcare
OpGen has announced that Curetis (its German subsidiary) has signed an extended R&D collaboration agreement with FIND following the successful completion of an extended feasibility study. The revised R&D agreement advances the collaboration from feasibility assessment to the initial phases of full in vitro diagnostic (IVD) product development, where the objective is to develop an antimicrobial resistance (AMR) IVD assay on an Unyvero A30 cartridge, along with analytical testing and software development. This development phase of the arrangement, with an anticipated 10-month duration, calls for a total $0.6m in additional payments to OpGen, split in the form of an upfront payment and two milestone payments. The progression of this collaboration takes OpGen a step closer toward commercialization of a molecular microbiology testing platform designed to address the needs of low-to-middle income countries (LMICs).
OpGen |
FIND collaboration advances to development |
Collaboration update |
Pharma and biotech |
4 August 2023 |
Share price performance
Business description
Analysts
OpGen is a research client of Edison Investment Research Limited |
||||||||||||||||||||||||||||||||||||
OpGen has announced that Curetis (its German subsidiary) has signed an extended R&D collaboration agreement with FIND following the successful completion of an extended feasibility study. The revised R&D agreement advances the collaboration from feasibility assessment to the initial phases of full in vitro diagnostic (IVD) product development, where the objective is to develop an antimicrobial resistance (AMR) IVD assay on an Unyvero A30 cartridge, along with analytical testing and software development. This development phase of the arrangement, with an anticipated 10-month duration, calls for a total $0.6m in additional payments to OpGen, split in the form of an upfront payment and two milestone payments. The progression of this collaboration takes OpGen a step closer toward commercialization of a molecular microbiology testing platform designed to address the needs of low-to-middle income countries (LMICs).
Year end |
Revenue |
EBITDA* ($m) |
PBT* |
EPS* |
P/revenue |
Net debt/(cash) |
12/21 |
4.3 |
(20.4) |
(35.7) |
(19.5) |
0.84 |
(14.4) |
12/22 |
2.6 |
(20.6) |
(25.3) |
(10.4) |
1.38 |
4.4 |
12/23e |
4.8 |
(17.9) |
(20.8) |
(3.4) |
0.75 |
13.7 |
12/24e |
7.1 |
(17.0) |
(20.8) |
(2.1) |
0.51 |
34.5 |
Note: *Figures are normalized, excluding amortization of acquired intangibles, exceptional items and share-based payments. EPS adjusted for 1:20 share consolidation in January 23.
Under the expanded scope of the agreement, OpGen will collaborate with FIND to develop an AMR assay and an Unyvero A30 cartridge for AMR detection, designed to be suitable for the requirements of LMICs in terms of panel design, coverage of specified genetic variants of bacterial strains and its AMR markers, along with maintaining competitive cost profile and pricing to facilitate rapid testing in such countries. Additionally, the parties will work to develop a software plugin and conduct all analytical testing required to subsequently initiate clinical trials. While assay and software development work will start right away, the company expects to commence development work towards a first set of deliverables and milestones in Q423.
As a reminder, OpGen recently announced it has met all objectives agreed under the feasibility stage as part of the FIND collaboration, triggering a $0.2m milestone payment to OpGen. As per the expanded scope of the feasibility study for the Unyvero A30 RQ platform, OpGen provided three more deliverables: an antimicrobial stewardship module, a ‘data everywhere’ concept and next-generation sequencing strain analysis.
Further contract amendments or development phases may occur prior to the completion of an AMR product ready for clinical trials and regulatory submissions in relevant LMICs. While management expects the whole development process to targeted market launch in relevant LMICs might take two to three years (along with significant additional funding from FIND) to materialise, it includes an important opportunity to expand its Unyvero franchise into developing markets.
|
|
Research: Energy & Resources
Canacol Energy issued an operational update on 3 August that included gas sales and drilling plans. July 2023 gas sales were 197mmcf/day, in line with sales a year earlier. However, perhaps more importantly, the group is mobilising two additional rigs to increase production capacity to meet potential higher demand due to the emerging El Niño effect.