- OpGen (NASDAQ:OPGN) shares rise more than 3% post market after the company reports Q2 results and provides an update on regulatory timelines.
- The company said that it is still waiting for the FDA to complete its review of the OpGen's AMR Gene Panel for Isolates.
- OpGen also highlighted that it is in regular dialog with the Chinese NMPA via the company's strategic partner Beijing Clear Bio.
- The company is also working on finding a new Chief Financial Officer following the resignation of current CFO Tim Dec.
- OpGen also posted quarterly revenue that fell 30% YOY to $0.81M, missing analysts' estimate by $0.32M.
- The net loss for the second quarter of 2021 was $7.1M, or $0.19 per share, compared with $7.5M, or $0.49 per share, in the second quarter of 2020.
- Cash and cash equivalents were $31.2M as of June 30, 2021 compared to $13.4M as of December 31, 2020.
- The company's shares have gained more than 30% year to date.
- Previously (Aug. 12): OpGen EPS beats by $0.01, misses on revenue.