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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
Companies: OpGen Inc (OPGN:NYSE)OpGen, Inc. (OPGN:NAS)
Edison
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 deve
OpGen has announced that Curetis (its German subsidiary) has met its objectives agreed under its extended R&D collaboration with FIND (a global non-profit alliance for diagnostics), triggering a $0.2m milestone payment to OpGen. Under the expanded scope of the feasibility study for the Unyvero A30 RQ platform, OpGen was required to provide three more deliverables: an antimicrobial stewardship module, a ‘data everywhere’ concept and next-generation sequencing (NGS) strain analysis. While successf
Companies: OpGen, Inc.
OpGen has reported a productive quarter marked by advancements across the board. Operating loss improved to $5.1m during the quarter (from $5.8m in Q122), driven by 94% y-o-y top-line growth (to $0.9m) and stronger cost controls (total expenses of $6.0m vs $6.3m in Q122). Looking ahead, we anticipate tailwinds from the post-period signing of the Unyvero distribution partnership with Fisher Healthcare and the de novo FDA submission for its UTI panel in April. While Unyvero and ARES will be the ke
In a bid to strengthen its cash position, OpGen has announced a c $3.5m (gross) fund-raise through an equity issue, subject to shareholders’ approval and expected to close on or around 4 May 2023. As part of the offering, OpGen will issue 4.5m common shares (or pre-funded warrants) at $0.7785 per share (close to the last trading price of $0.7784/share) and a similar number of accompanying warrants. The warrants will be exercisable (if approved by shareholders) at a strike price of $0.7785 per sh
OpGen has announced that Curetis (its German subsidiary) has successfully met the remaining key milestones for Unyvero A30 RQ under the initial R&D collaboration with FIND (a global non-profit alliance for diagnostics), triggering a $0.3m milestone payment to OpGen. This development follows the achievement of certain other key milestones in January 2023. While OpGen is still working on the next set of deliverables under the expanded scope of R&D agreement (April 2023), the successful completion
After completing the 1:20 share consolidation, OpGen has announced a $7.5m equity issue to be closed by 11 January 2023. As part of the offering, OpGen will issue 2.6m common shares (or pre-funded warrants) at $2.90 per share, along with a similar number of Series A-1 and A-2 warrants. The warrants will be exercisable immediately at a strike price of $2.65 per share with respective expiry dates of five years and 18 months. OpGen plans to use the funds raised to accelerate commercialization effor
Following a proposed share consolidation announced in November 2022, OpGen has effected a reverse stock split in the ratio of 1:20. This comes in the wake of a Nasdaq notification received in late August 2022 granting the company a 180-day extension (ending in February 2023) to regain compliance with its listing requirements (minimum threshold price of $1 per share). Given Nasdaq’s liquidity and trading volumes, we see Opgen’s ability to maintain the listing as crucial to its effectiveness in ra
OpGen’s valuation case rests on its ability to develop and commercialize its suite of differentiated diagnostic products, focused on combating anti-microbial resistance (AMR). Q322 was marked by several developments on this front (see our last note), albeit offset with market caution in the current macroeconomic environment. This resulted in revised FY22 guidance (revenue of $2.5–3.0m versus c $4.6m previously) with the Q322 results. The delayed sales cycle conversions, along with the regulatory
OpGen has announced encouraging final data from its Unyvero Urinary Tract Infection (UTI) panel, a diagnostic test designed to detect pathogens and antimicrobial resistance markers related to UTI, from native urine specimens without the need for culturing. The study, which recruited over 1,800 patient samples across four trial sites in the United States, met its primary endpoint with an overall weighted average sensitivity of 96.4% and specificity of 97.4% in preliminary analysis. The favourable
OpGen’s Q322 revenues of $0.4m missed consensus estimates (following a strong Q222 performance), with management attributing the softness to longer than expected sales cycles for ARES and lower Unyvero A50 sales in international markets. Encouragingly though, the quarter was marked by business advancements – signing a second Acuitas AMR Gene Panel commercial contract, completing the UTI test panel patient enrollment in the US, launching ARES sequencing services in the US and announcing collabora
The penultimate quarter of FY22 for OpGen was marked by tangible progress in advancing its pipeline, although revenue realization was lower than anticipated at c $0.4m in Q322 (attributed to a lower-than-expected contribution from ARES). Key milestones achieved during the quarter were the signing of a second commercial contract for the Acuitas AMR Gene Panel, completion of patient enrollment for the UTI test panel in the US, launch of ARES sequencing services in the US and collaborations with FI
OpGen has announced a collaboration agreement with Swiss pharma company, BioVersys, for the use of the Unyvero platform in screening patients for the enrollment of BioVersys’ upcoming Phase II clinical trial of drug candidate BV100. Unyvero’s HPN panel, an integrated sample-to-answer pneumonia cartridge, will be used for detecting a range of pathogens and AMR markers in hospitalized pneumonia patients. This collaboration expands the utilization of the Unyvero platform and OpGen’s overall franchi
OpGen has completed patient sample enrollment in its prospective multicenter trial for the Unyvero urinary tract infection (UTI) panel in the United States, taking the company closer to commercializing another Unyvero test panel, following the lower respiratory tract infection (LRT) and the LRT bronchoalveolar lavage tests in 2018 and 2019, respectively. OpGen reported that more than 1,800 samples have been collected across four sites in the United States as part of the study, exceeding the FDA-
Research Tree provides access to ongoing research coverage, media content and regulatory news on OpGen, Inc.. We currently have 6 research reports from 2 professional analysts.
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$0.75 per share: Raising new equity to fund a high impact activity programme – ADX has raised A$13.5 mm of new equity priced at A$0.105 per share. One free-attaching option will be issued for evert two placement shares with an exercise price of A$0.15 per share and an expiry date of 08/05/2026. The proceeds from the raise will fund (1) the production testing of the 450 m gas column encountered at
Companies: PEN SEI OMV ADX GALP OMV AXL JSE CEQ TXP SHELL DELT TRIN I3E ZPHR CHAR LNGE SEPL CNE BWEFF PEN GTE GALP EGY
Auctus Advisors
The focus of Hardman & Co Research is on the nine quoted Infrastructure Investment Companies (IICs) and on the 22 Renewable Energy Infrastructure Funds (REIFs): the stocks analysed are all members of the Association of Investment Companies (AIC). We are updating our publication of January 2023, assessing both the lacklustre share price performances during 2023 and the key issues, including interest rates, inflation and power prices. As a 31-strong group, its combined market capitalisation is no
Companies: AEIT ROOF DGI9 INPP GSF SEIT USFP HICL ORIT BSIF TRIG NESF SEQI HEIT GRP GCP FSFL 3IN AERI PINT RNEW BBGI GSEO DORE TENT GRID CORD HGEN AEET
Hardman & Co
Anexo has reported FY23 results, with a solid performance across the Group, boosted by the agreement of its first Emissions action in the year. Increased activity levels in Credit Hire and a large portfolio of claims in Legal Services underpin our forecasts, with the benefit of future Emissions Case agreements providing upside risk should settlements be reached.
Companies: Anexo Group Plc
Zeus Capital
Companies: Jet2 PLC
Canaccord Genuity
17th April 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced Dish of the day Admissions: Delistings: What’s baking in the oven? ** Potential**** Initial Public Offerings: Reverse Takeovers: 16 April 2024: Electric Guitar (ELEG.L) Concurrent with its Admission to trading on AIM, Electric Guitar is proposing to acquire the entire issued share capital of 3radi
Companies: ARS TIDE SCE SNX ECK CNS TST SPEC SSTY
Hybridan
Companies: HL/ IHP QLT AJB PBEE
Liberum
Companies: FOG PEB KBT EMR TIME GETB JNEO
Cavendish
Post further analysis of the FY 2023 results on 9 April 2024, we are establishing FY 2025 forecasts, as well as modifying our forecast adjusted net profit/EPS figures for 2024 and 2025 to reflect the accounting of the deferred tax asset. Our 2025 forecast calls for 9% growth in customer revenues, stable other operating income (largely R&D tax credits) vs 2024, EBITDA margins going back to the 23% level (after a slight contraction in 2024 to reflect 3 facilities being run in parallel for part of
Companies: hVIVO plc
Braemar’s FY24 trading update was in line with expectations, with revenues of c £150m and underlying operating profit of c £18m. Underlying operations continue to expand and diversify and the company remains well-positioned to drive its future growth strategy. The trading outlook is promising and Braemar should be able to leverage its strong balance sheet in pursuit of strategic growth. We have maintained our underlying estimates for FY24 and FY25, but edge down the valuation based on the lower
Companies: Braemar PLC
Seraphim Space Investment Trust (SSIT) reported a modest 1.8% NAV total return (TR) in H124, as the positive impact from up rounds (most notably D-Orbit’s) was partly offset by downward fair value adjustments of some other holdings due to technical setbacks or operational underperformance. However, we note that fund-raising across the spacetech sector remained robust in CY23. Moreover, 82% of SSIT’s portfolio has a robust cash runway, with 60% fully funded based on the projections of its managem
Companies: Seraphim Space Investment Trust Plc
Avacta reported results for FY23 but more importantly announced the appointment of Christina Coughlin as CEO wef 1 May, replacing Alastair Smith who is stepping down today. FY23 results were better than consensus at the EPS level. Net cash ended the year at £16.6m, as previously disclosed, which has since been bolstered by the £31m gross equity raise enabling Avacta to fund the AVA6000 programme through Phase 2 clinical trials, as well as advancing other candidates in its pre|CISION™ and Affime
Companies: Avacta Group PLC
Capital Access Group
Graft Polymer (UK) PLC (LON:GPL) is focused on the development and commercial production of modified polymers, biological supplements and nano-drug delivery systems. The group was founded in 2017 to commercialise the accumulated technological experience gained through previously implemented project
Companies: Graft Polymer (UK) PLC
Proactive
Companies: Begbies Traynor Group plc
Shore Capital
Companies: VEL FRP CHAR POLB
Silverbullet’s full year results show clear momentum in its core marketing services business with a slate of contract wins with large regional and multinational companies. Core marketing services revenues have grown by 60% with overall group revenues up by c.30%. 4D, the contextual targeting business had a slower start than anticipated, but the product is now fully developed and being used by a highly impressive list of clients. The announced £4.5 million capital raise should provide the company
Companies: Silver Bullet Data Services Group plc
SEAL Advisors Ltd
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