OpGen GAAP EPS of -$0.30 misses by $0.19, revenue of $0.45M misses by $0.85M
Nov. 10, 2022 4:25 PM ETOpGen, Inc. (OPGN)By: Pranav Ghumatkar, SA News Editor
- OpGen press release (NASDAQ:OPGN): Q3 GAAP EPS of -$0.30 misses by $0.19.
- Revenue of $0.45M (-63.7% Y/Y) misses by $0.85M.
- Cash and cash equivalents were approximately $10.3 million as of September 30, 2022, compared with $36.1 million as of December 31, 2021.
- The Company anticipates: Overall, 2022 revenue in a range of approximately $2.5 to $3 million from products and services as well as collaboration business globally.
- OpGen will be holding a special meeting of stockholders on November 30, 2022 to vote on the proposal for a potential reverse stock split.
- The Company will continue to explore additional strategic and tactical equity and debt financing opportunities as well as potential strategic alternative options throughout the remainder of the year and into 2023 to possibly further strengthen its cash position.
- Correction note: An earlier version of this article included incorrect quarterly revenue and erroneously characterized them as a beat instead of a miss of analysts' consensus estimates.