OpGen (NASDAQ: OPGN)

Last close As at 27/03/2024

USD0.72

−0.03 (−4.27%)

Market capitalisation

USD8m

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

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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 61.6 70.5 (49.7)
Relative 57.5 56.4 (61.6)
52 week high/low US$1.5/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
Laboratory

Flash note

Healthcare

OpGen — FIND milestone payment triggered

Flash note

Healthcare

OpGen — New public offering to support funding needs

Update

Healthcare

OpGen — Near-term adjustments with outlook unchanged

Flash note

Healthcare

OpGen — Test menu expansion opportunity with positive data

Flash note

Healthcare

OpGen — Guidance revision triggered by softer Q322

Flash note

Healthcare

OpGen — Broadening its commercial footprint in Q322

Flash note

Healthcare

OpGen — Rapid detection collaboration with BioVersys

Flash note

Healthcare

OpGen — Unyvero UTI panel approaching final readouts

Flash note

Healthcare

OpGen — $3.38m raised through private placement

Flash note

Healthcare

OpGen — Unyvero A30 RQ collaboration with FIND

Flash note

Healthcare

OpGen — Addressing AMR with next-generation sequencing

Flash note

Healthcare

OpGen — Another collaboration agreement for Ares Genetics

Flash note

Healthcare

OpGen — A catalyst-rich Q222

flag

Flash note

Healthcare

OpGen — Expanding presence in the Middle East

Flash note

Healthcare

OpGen — Clinical peer-review supports the HPN panel

Update

Healthcare

OpGen — US momentum offset by one-time items

edison tv

Healthcare

OpGen: Edison Open House Healthcare 2022

Update

Healthcare

OpGen — FDA clearance a step forward

Update

Healthcare

OpGen — AMR Gene Panel clearance expected shortly

Update

Healthcare

OpGen — Q121 results

Update

Healthcare

OpGen — 2020 results

edison tv

Healthcare

OpGen – Edison Open House interview

Update

Healthcare

OpGen — An increased focus on Unyvero

Update

Healthcare

OpGen — Q220 results

edison tv

Healthcare

OpGen – executive interview

Update

Healthcare

OpGen — Merger with Curetis closes

Update

Healthcare

OpGen — Shareholder votes on Curetis merger coming

Update

Healthcare

OpGen — First 510(k) filed with the FDA

Initiation

Healthcare

OpGen — Rapid and effective diagnosis of infection