OpGen to Go Public
In 2013, due to declining revenues, OpGen expanded its focus beyond Whole Genome Mapping products for research applications to products for screening and diagnosing MDROs. Two Acuitas MDRO tests were launched last year. The company is also collaborating with Hitachi High-Technologies on Whole Genome Mapping technology for human genomes.
Washington, DC 3/3/15—OpGen has filed for an IPO of its common stock on the NASDAQ Stock Market. OpGen provides the Acuitas multidrug-resistant organism (MDRO)–focused products for rapidly identifying infections in hospital patients and the Argus Whole Genome Mapping system. In 2014, sales increased 71.1% to $4.1 million (see page 12) due to increased collaboration revenue. As of December 31, 2014, OpGen had an accumulated deficit of $96.8 million, and cash and cash equivalents of $0.7 million. The IPO’s number of shares and price range have yet to be determined.
