OpGen - Edison Group

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

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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

Laboratory Opgen

Sector

Healthcare

Equity Analyst

Soo Romanoff

Managing Director - Head of Content, Healthcare

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.

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

03.04.23

OpGen — Forecasts reset ahead of busy 2023

Laboratory Opgen

Flash note

Healthcare

19.01.23

OpGen — FY22 wrap offers key operational takeaways

Laboratory Opgen

Healthcare

Flash note

OpGen — Interim milestone achieved for R&D collaboration

Laboratory Opgen

Laboratory

Flash note

Healthcare

18.01.23

OpGen — FIND milestone payment triggered

Flash note

Healthcare

09.01.23

OpGen — New public offering to support funding needs

Update

Healthcare

06.01.23

OpGen — Share consolidation to regain Nasdaq compliance

edison tv

Healthcare

20.12.22

OpGen: Encouraging top-line data from Unyvero urinary tract infection (UTI) panel

Update

Healthcare

20.12.22

OpGen — Near-term adjustments with outlook unchanged

Flash note

Healthcare

14.12.22

OpGen — Test menu expansion opportunity with positive data

Flash note

Healthcare

14.11.22

OpGen — Guidance revision triggered by softer Q322

Flash note

Healthcare

28.10.22

OpGen — Broadening its commercial footprint in Q322

Flash note

Healthcare

26.10.22

OpGen — Rapid detection collaboration with BioVersys

Flash note

Healthcare

04.10.22

OpGen — Unyvero UTI panel approaching final readouts

Flash note

Healthcare

03.10.22

OpGen — $3.38m raised through private placement

Flash note

Healthcare

20.09.22

OpGen — Unyvero A30 RQ collaboration with FIND

Flash note

Healthcare

26.08.22

OpGen — Addressing AMR with next-generation sequencing

Update

Healthcare

12.08.22

OpGen — Re-acceleration with momentum in the back half

Flash note

Healthcare

27.07.22

OpGen — Another collaboration agreement for Ares Genetics

Flash note

Healthcare

11.07.22

OpGen — A catalyst-rich Q222

flag

Flash note

Healthcare

10.06.22

OpGen — Expanding presence in the Middle East

Flash note

Healthcare

27.05.22

OpGen — Clinical peer-review supports the HPN panel

Update

Healthcare

16.05.22

OpGen — US momentum offset by one-time items

edison tv

Healthcare

09.02.22

OpGen: Edison Open House Healthcare 2022

Update

Healthcare

17.11.21

OpGen — FDA clearance a step forward

Update

Healthcare

18.08.21

OpGen — AMR Gene Panel clearance expected shortly

edison tv

Healthcare

01.07.21

OpGen Webinar – A corporate and business update from the front lines of the fight against AMR

Update

Healthcare

19.05.21

OpGen — Q121 results

Update

Healthcare

06.04.21

OpGen — 2020 results

edison tv

Healthcare

03.02.21

OpGen – Edison Open House interview

Update

Healthcare

19.11.20

OpGen — An increased focus on Unyvero

Update

Healthcare

19.08.20

OpGen — Q220 results

edison tv

Healthcare

30.04.20

OpGen – executive interview

Update

Healthcare

16.04.20

OpGen — Merger with Curetis closes

Update

Healthcare

03.12.19

OpGen — Shareholder votes on Curetis merger coming

Update

Healthcare

20.05.19

OpGen — First 510(k) filed with the FDA

Initiation

Healthcare

15.04.19

OpGen — Rapid and effective diagnosis of infection

Further insights

insight

Healthcare

25.05.23

An update on OpGen: Deals, expansion and revenues

insight

Healthcare

20.12.22

Encouraging top-line data from Unyvero urinary tract infection (UTI) panel

insight

Healthcare

09.12.22

Healthcare Week 2023

insight

Healthcare

24.10.22

OpGen: Leadership in the global fight against the AMR pandemic

insight

Healthcare

04.11.21

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

insight

Healthcare

07.09.21

Nine things investors need to know about OpGen

thematic

Healthcare

13.06.23

ASCO 2023 key takeaways

thematic

Healthcare

26.01.23

Machine learning in drug development

thematic

Healthcare

06.01.23

Outlook for 2023: Biotechs remain central to novel drug development

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04.01.23

Oncology ABCs (part four): Blood cancers (AML) – notable innovations

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20.12.22

Cell and gene therapies

thematic

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28.11.22

Drug delivery platforms

thematic

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07.11.22

Oncology ABCs (part three) – thinking outside the box in women’s cancer

thematic

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01.11.22

Neuroscience comeback

thematic

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05.10.22

IPO apocalypse

thematic

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03.10.22

Oncology ABCs (part two) – vaccines: niche no longer

thematic

TMT

10.08.22

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Oncology ABCs (part one) – a small-cap biopharma prospectus series

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10.11.21

Artificial intelligence in drug discovery

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27.07.21

Biosynthesis – Taking the cannabinoid market to new heights

thematic

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22.03.21

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thematic

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01.02.21

Confidence renewed as new COVID-19 vaccines demonstrate protection against emergent strains and efficacy with a single-dose regimen

thematic

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30.10.19

Edison Exhibits- antibiotic development

thematic

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17.07.19

The next wave in AMD

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18.06.19

The A-B-T of biosimilars- Explaining contemporary life science issues

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10.06.19

Cannabinoid Therapies- The coming retail wave

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22.05.19

Cannabinoid Therapies- Therapeutics turning a corner

thematic

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08.04.19

Trial outcomes and value – Explaining contemporary clinical trial issues

thematic

Healthcare

04.03.19

Drug pricing – Market access and reimbursement

thematic

Healthcare

29.01.19

The diagnostics sector

thematic

Healthcare

21.06.17

ASCO 2017

thematic

Consumer

11.11.14

Deutsche Börse Eigenkapitalforum 2014 Research Guide

thematic

Healthcare

05.03.14

Edison healthcare quarterly: A boost for allergy immunotherapy

thematic

Energy & Resources

04.03.14

ASX Spotlight Conference – London, 6 March 2014

thematic

Energy & Resources

01.03.13

ASX Small to Mid Caps Conference – London, 7 March 2013

thematic

Healthcare

07.12.12

Edison healthcare quarterly: Boom times for US biotech

thematic

Healthcare

30.08.12

Edison healthcare quarterly: Crisis? What crisis?

thematic

Healthcare

28.05.12

Edison healthcare quarterly: How to please some of the people some of the time