OpGen

Overview
Price performance
Financials
Research
Sector insights
Thematics

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

Healthcare |
Update

14.08.23

OpGen — Cash concerns dampen active Q2

Healthcare |
Flash note

04.08.23

OpGen — FIND collaboration advances to development

Healthcare |
Flash note

21.07.23

OpGen — Feasibility milestone from FIND collaboration

Healthcare |
Update

17.05.23

OpGen — Optimistic start to kick off a promising year

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Sector

Healthcare

Equity Analyst

Soo Romanoff

Managing Director - Head of Content, Healthcare

Arron Aatkar

Analyst

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	13.7	(17.1)	(55.8)
Relative	12.7	(21.6)	(66.0)
52 week high/low	US$7.8/US$1.4

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.