Opgen Inc. Files Q3 2024 10-Q Report

TL;DR

Opgen Inc. 10-Q filed: Q3 2024 financials out. Check for revenue, expenses, and cash flow.

AI Summary

Opgen Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter of 2024. Specific financial figures and operational highlights are presented within the report.

Why It Matters

This filing provides investors and stakeholders with the latest financial health and strategic direction of Opgen Inc. as of the end of the third quarter of 2024.

Risk Assessment

Risk Level: medium — The risk level is medium due to the nature of 10-Q filings which inherently contain forward-looking statements and financial performance data that can be volatile.

Key Players & Entities

• OPGEN INC (company) — Filer
• 20240930 (date) — Period of Report
• 20241115 (date) — Filing Date
• 001-37367 (other) — SEC File Number

FAQ

Key Financial Figures

• $0.01 — f the Company's common stock, par value $0.01 per share, were outstanding as of Novem
• $1.6 — y only has cash and cash equivalents of $1.6 1,633,166 million as of September 30, 2
• $3.0 million — tock having an aggregate value of up to $3.0 million. The purchase price for any shares sold

Filing Documents

• opgeninc_10q.htm (10-Q) — 1317KB
• opgeninc_ex31-1.htm (EX-31.1) — 16KB
• opgeninc_ex31-2.htm (EX-31.2) — 11KB
• opgeninc_ex32-1.htm (EX-32.1) — 10KB
• 0001829126-24-007586.txt ( ) — 6616KB
• opgn-20240930.xsd (EX-101.SCH) — 56KB
• opgn-20240930_cal.xml (EX-101.CAL) — 56KB
• opgn-20240930_def.xml (EX-101.DEF) — 232KB
• opgn-20240930_lab.xml (EX-101.LAB) — 397KB
• opgn-20240930_pre.xml (EX-101.PRE) — 343KB
• opgeninc_10q_htm.xml (XML) — 1001KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 28 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 36 Item 4.

Controls and Procedures

Controls and Procedures 37 PART II. OTHER INFORMATION 38 Item 1.

Legal Proceedings

Legal Proceedings 38 Item 1A.

Risk Factors

Risk Factors 38 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 39 Item 3. Defaults Upon Senior Securities 39 Item 4. Mine Safety Disclosures 39 Item 5. Other Information 39 Item 6. Exhibits 39

SIGNATURES

SIGNATURES 40 i INFORMATION REGARDING FORWARD-LOOKING STATEMENTS This quarterly report on Form 10-Q of OpGen, Inc. contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). In this quarterly report, we refer to OpGen, Inc. as the "Company," "we," "our" or "us." All statements other than statements of historical facts contained herein, including statements regarding our future results of operations and financial position, strategy and plans, and our expectations for future operations, are forward-looking statements. The words "believe," "may," "will," "estimate," "continue," "anticipate," "design," "intend," "expect" or the negative version of these words and similar expressions are intended to identify forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, strategy, short- and long-term business operations and objectives, and financial needs. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described in Part I Item 1A "Risk Factors" of our most recent annual report on Form 10-K and any risk factors included in Part II Item 1A "Risk Factors" of this quarterly report on Form 10-Q. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances included herein may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Forward-looking statements include, but are not limited to, statements about: our liquidity and working capital requirements, includin

FINANCIAL INFORMATION

Part I. FINANCIAL INFORMATION

Unaudited Condensed Consolidated Financial Statements

Item 1. Unaudited Condensed Consolidated Financial Statements OpGen, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (unaudited) September 30, 2024 December 31, 2023 Assets Current assets Cash and cash equivalents $ 1,633,166 $ 1,151,823 Accounts receivable, net 24,401 103,316 Prepaid expenses and other current assets 1,559,786 324,735 Total current assets 3,217,353 1,579,874 Property and equipment, net 1,117,245 - Finance lease right-of-use assets, net - 138 Operating lease right-of-use assets 832,966 - Other noncurrent assets 302,262 302,262 Total assets $ 5,469,826 $ 1,882,274 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 103,868 $ 111,149 Accrued compensation and benefits 49,146 127,601 Accrued liabilities 89,173 135,476 Deferred revenue - 25,926 EIB loan guaranty - 10,873,867 Short-term insurance financing 180,555 - Short-term finance lease liabilities - 280 Short-term operating lease liabilities 167,021 147,943 Total current liabilities 589,763 11,422,242 Long-term operating lease liabilities, net of short-term amount 1,893,794 2,021,616 Total liabilities 2,483,557 13,443,858 Commitments and contingencies (Note 8) Stockholders' equity (deficit) Series D convertible preferred stock, $ 0.01 par value; 1,000 shares authorized; 250 shares issued and outstanding at September 30, 2024 and December 31, 2023 2 2,500 Common stock, $ 0.01 par value; 100,000,000 shares authorized; 10,068,111 and 1,282,686 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 100,681 12,827 Additional paid-in capital 300,736,192 293,991,529 Accumulated deficit ( 297,850,606 ) ( 305,493,302 ) Accumulated other comprehensive loss - ( 75,138 ) Total stockholders' equity (deficit) 2,986,269 ( 11,561,584 ) Total liabilities and stoc

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View this 10-Q filing on SEC EDGAR