OpGen, Inc. (OPGN) Bundle
A Brief History of OpGen, Inc. (OPGN)
Foundation and Early Years
OpGen, Inc. was founded in 2001, initially focused on developing molecular diagnostic technologies. The company aimed to address the growing need for rapid and accurate detection of pathogens, particularly in the context of antibiotic resistance.
Initial Public Offering
In 2013, OpGen went public, raising approximately $17 million through its IPO on the NASDAQ under the ticker symbol OPGN.
Acquisitions and Expansions
OpGen expanded its technological arsenal by acquiring several companies and technologies over the years. Notable acquisitions include:
- 2018: Acquisition of GeneWeave Biosciences for around $10.5 million
- 2020: Purchase of specimen technologies, enhancing its product offerings.
Financial Performance
In 2021, OpGen reported total revenue of $4.05 million, with a net loss of approximately $14 million. The trends indicated an increase in revenue driven by their expanding product portfolio and partnerships.
Product Developments
OpGen’s product line includes:
- Acuitas® MDRO Gene Panel
- Acuitas Lighthouse® Software
- Acuitas® Resistome Test
These products are designed to tackle the challenges posed by multidrug-resistant organisms (MDROs) and improve patient outcomes.
Collaborations and Partnerships
OpGen has established various collaborations, including:
- Partnership with University of Maryland for research in antibiotic resistance.
- Collaboration with U.S. Department of Defense for deploying diagnostics in military settings.
Market Performance
| Year | Stock Price (Close) | Market Cap (Approximate) |
|---|---|---|
| 2018 | $1.40 | $25 million |
| 2019 | $0.87 | $16 million |
| 2020 | $0.72 | $14 million |
| 2021 | $1.05 | $20 million |
| 2022 | $0.45 | $8 million |
Recent Developments
In 2022, OpGen launched its latest diagnostic platform, the Acuitas® rapid testing system, aimed at enhancing the speed and accuracy of pathogen detection.
Financial Challenges
By the end of 2022, OpGen reported total liabilities of approximately $23 million while maintaining assets worth around $16 million, presenting a challenging financial landscape.
Future Prospects
OpGen continues to explore new markets and technologies, focusing on the development of products that can address the urgent public health issue of antibiotic resistance while seeking additional funding to stabilize its financial position.
A Who Owns OpGen, Inc. (OPGN)
Major Shareholders
As of the latest data, OpGen, Inc. (OPGN) has a diverse set of shareholders, including institutional investors and retail investors.
| Shareholder Type | Percentage Ownership | Number of Shares | Market Value (Approx.) |
|---|---|---|---|
| Institutional Investors | 40.5% | 2,652,300 | $2.5 million |
| Retail Investors | 30.2% | 1,962,000 | $1.8 million |
| Insiders | 29.3% | 1,920,000 | $1.7 million |
Institutional Ownership Breakdown
Institutional ownership plays a significant role in the stock structure of OpGen, Inc. The following table provides details on specific institutional shareholders.
| Institution | Ownership Percentage | Shares Held | Market Value (Approx.) |
|---|---|---|---|
| Wellington Management | 10.5% | 684,000 | $625,000 |
| BlackRock Fund Advisors | 8.3% | 545,000 | $500,000 |
| State Street Global Advisors | 7.2% | 465,000 | $420,000 |
Insider Ownership
Insider ownership is also notable for OpGen, Inc. The table below outlines key insider holdings.
| Name | Position | Shares Held | Ownership Percentage |
|---|---|---|---|
| Charles D. Sweeney | President & CEO | 900,000 | 12.5% |
| John W. L. Fernando | Chief Financial Officer | 500,000 | 7.0% |
| Rebecca A. Johnson | Board Member | 520,000 | 7.2% |
Recent Stock Performance
OpGen, Inc. has experienced fluctuating stock performance in the recent quarter.
| Date | Closing Price | Market Cap (Approx.) | Change (%) |
|---|---|---|---|
| September 30, 2023 | $0.94 | $6.7 million | 3.2% |
| August 31, 2023 | $0.91 | $6.4 million | 1.1% |
| July 31, 2023 | $0.87 | $6.1 million | -2.3% |
Recent Financing Activities
OpGen, Inc. recently raised funds through various financing methods.
| Type of Financing | Date | Amount Raised | Use of Funds |
|---|---|---|---|
| Private Placement | August 2023 | $2.5 million | R&D and operations |
| Public Offering | May 2023 | $3 million | Debt repayment |
| Grant Funding | January 2023 | $1 million | Product development |
Future Ownership Trends
Analysts predict potential changes in ownership dynamics within OpGen, Inc. due to market conditions, investor trends, and company performance metrics.
OpGen, Inc. (OPGN) Mission Statement
Company Overview
OpGen, Inc. is a precision medicine company focused on improving patient outcomes through molecular diagnostics and bioinformatics. The company aims to provide innovative solutions for the detection and management of infectious diseases and other medical conditions.
Mission Statement
OpGen's mission is to leverage cutting-edge genomics and informatics to develop products and services that enhance the identification of actionable genomic information. This is intended to empower healthcare providers to make data-driven decisions for antibiotic stewardship and personalized medicine.
Key Financial Metrics
| Financial Metric | Value (2022) | Value (2021) | Value (2020) |
|---|---|---|---|
| Total Revenue | $8.3 million | $6.3 million | $5.0 million |
| Net Loss | ($13.4 million) | ($14.5 million) | ($12.8 million) |
| Operating Expenses | $19.2 million | $18.9 million | $16.4 million |
| Cash and Cash Equivalents | $6.7 million | $8.5 million | $10.1 million |
| Total Assets | $27.3 million | $29.2 million | $31.0 million |
Strategic Initiatives
- Expansion of Diagnostic Products: OpGen aims to broaden its product offerings in the area of rapid molecular diagnostics.
- Partnerships: The company is focused on establishing collaborations with healthcare institutions and pharmaceutical companies to enhance its research capabilities.
- Investment in Research: OpGen is committed to investing in R&D to innovate and refine its genomic tools and analytics.
Market Position and Competitive Landscape
OpGen operates in a competitive market characterized by rapid technological advancements and evolving regulatory standards. In 2021, the global molecular diagnostics market was valued at approximately $12 billion and is projected to grow at a CAGR of about 10% from 2022 to 2028.
Recent Developments
In 2023, OpGen announced a partnership with a leading healthcare provider to implement its genomic testing services in clinical settings, aimed at improving patient diagnostics and treatment outcomes.
Conclusion
OpGen, Inc. continues to advance its mission of enhancing healthcare through innovation in genomic diagnostics, aiming to reduce the impact of infectious diseases and improve personalized medicine.
How OpGen, Inc. (OPGN) Works
Company Overview
Company Overview
OpGen, Inc. (NASDAQ: OPGN) is a precision medicine company that harnesses the power of molecular diagnostics to improve patient outcomes in infectious diseases. It focuses on solutions for identifying, tracking, and preventing antibiotic resistance.
Business Model
OpGen operates primarily through its proprietary technology for genomic analysis, particularly in the realm of antimicrobial resistance.
- Revenue Streams: Includes product sales from diagnostic tests, licensing agreements, and research contracts.
- Target Market: Hospitals, clinical laboratories, and research institutions.
Products and Services
Key products offered by OpGen include:
- Acuitas® AMR Gene Panel: A comprehensive test for antibiotic resistance genes.
- Acuitas® Lighthouse Lab Services: Diagnostic services utilizing their proprietary platforms.
- Whole Genome Sequencing (WGS): Advanced sequencing capabilities for infectious disease pathogens.
Recent Financial Performance
As of the latest financial report for the third quarter of 2023:
| Financial Metric | Q3 2023 | Q2 2023 | Q3 2022 |
|---|---|---|---|
| Total Revenue | $1.2 million | $1.1 million | $1.0 million |
| Net Loss | ($3.6 million) | ($3.4 million) | ($3.8 million) |
| Cash and Cash Equivalents | $5.0 million | $7.2 million | $3.8 million |
| R&D Expenses | $2.1 million | $1.9 million | $2.4 million |
| Operating Expenses | $3.6 million | $3.4 million | $3.7 million |
Strategic Partnerships
OpGen collaborates with various entities to enhance its research capabilities:
- Partnerships: Institutions such as Geisinger Health System and NorthShore University HealthSystem.
- Collaborative Research: Joint studies to advance diagnostic tools and treatment methods for antibiotic-resistant infections.
Market Trends and Challenges
The market for antimicrobial resistance diagnostics is expected to grow significantly due to increasing rates of infection:
- Market Size: Valued at approximately $3.5 billion in 2022, projected to reach $7.2 billion by 2030.
- Growth Rate: CAGR of 9.3% from 2023 to 2030.
Regulatory Environment
OpGen’s products must comply with various regulatory standards:
- FDA Regulations: Products must be approved or cleared by the FDA before marketing.
- CLIA Certification: Laboratory operations must meet the Clinical Laboratory Improvement Amendments standards.
Intellectual Property
OpGen holds several patents relevant to its technology:
- Key Patents: Covering methodologies for detecting antimicrobial resistance and related genomic analyses.
- Patent Strategy: Continuous innovation and filing new patents to protect advancements in technology.
Future Outlook
Looking forward, OpGen aims for growth through:
- Product Development: Focus on expanding its diagnostic offerings and enhancing existing products.
- Market Expansion: Targeting international markets to widen its reach.
How OpGen, Inc. (OPGN) Makes Money
Revenue Streams
OpGen, Inc. generates revenue through several key avenues:
- Product sales
- Research collaborations
- Grants and funding
- Licensing and partnerships
Product Sales
OpGen’s primary source of income is derived from the sale of its molecular diagnostics products, particularly the Acuitas® platform. This platform focuses on detecting antibiotic-resistant bacteria.
| Product | 2022 Revenue ($ millions) | Projected 2023 Revenue ($ millions) |
|---|---|---|
| Acuitas® AMR Gene Panel | 2.5 | 3.0 |
| Acuitas® Lighthouse | 1.2 | 1.5 |
Research Collaborations
OpGen engages in numerous research collaborations aimed at developing new technologies and improving existing products. In 2022, it entered into partnerships with several academic institutions, contributing to a significant portion of its funding.
In 2021, research collaboration revenue accounted for approximately $1.8 million in total sales. The expectations for 2023 are set at $2.2 million.
Grants and Funding
Public and private grants represent another essential revenue source for OpGen. In 2022, the company successfully secured funding from the National Institutes of Health (NIH), which amounted to $1 million.
Licensing and Partnerships
OpGen leverages its technology by entering into licensing agreements with various partners. Notably, the company signed a licensing agreement in 2022 for a new diagnostic platform that is projected to generate approximately $500,000 in revenue.
| Year | Licensing Revenue ($ millions) | Projected Licensing Revenue ($ millions) |
|---|---|---|
| 2021 | 0.3 | - |
| 2022 | 0.5 | 0.8 |
Financial Performance
OpGen’s financial performance has shown various metrics over the past few years. According to its latest financial statements:
| Year | Total Revenue ($ millions) | Net Loss ($ millions) |
|---|---|---|
| 2021 | 4.0 | (7.5) |
| 2022 | 5.5 | (6.0) | 2023 (Projected) | 6.5 | (5.0) |
Market Position and Growth Potential
As of October 2023, OpGen's market capitalization stands at approximately $45 million. The global molecular diagnostics market is expected to grow at a CAGR of 11% from 2022 to 2030, positioning OpGen to capture more market share in the future.
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