OpGen Inc. Faces Delisting Notice

TL;DR

OpGen's in danger of being delisted, stock might tank.

AI Summary

OpGen, Inc. filed an 8-K on May 24, 2024, reporting a notice of delisting or failure to satisfy continued listing rules. The company's principal executive offices are located at 9717 Key West Avenue, Suite 100, Rockville, MD 20850.

Why It Matters

This filing indicates potential delisting from a stock exchange, which could significantly impact the company's liquidity and investor confidence.

Risk Assessment

Risk Level: high — A notice of delisting directly threatens the company's ability to remain publicly traded, posing a significant risk to its operations and investors.

Key Players & Entities

• OpGen, Inc. (company) — Registrant
• 9717 Key West Avenue, Suite 100, Rockville, MD 20850 (location) — Principal executive offices
• May 20, 2024 (date) — Date of earliest event reported
• May 24, 2024 (date) — Date of report

FAQ

Key Financial Figures

• $1.00 — ling to maintain a minimum bid price of $1.00 per share over a 30 consecutive busines

Filing Documents

• opgeninc_8k.htm (8-K) — 30KB
• opgeninc_ex99-1.htm (EX-99.1) — 8KB
• ex99-1_001.jpg (GRAPHIC) — 5KB
• 0001829126-24-003748.txt ( ) — 218KB
• opgn-20240520.xsd (EX-101.SCH) — 3KB
• opgn-20240520_lab.xml (EX-101.LAB) — 33KB
• opgn-20240520_pre.xml (EX-101.PRE) — 22KB
• opgeninc_8k_htm.xml (XML) — 4KB

01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. As previously disclosed, OpGen, Inc. (the "Company") received notice from The Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Rule") as a result of failing to maintain a minimum bid price of $1.00 per share over a 30 consecutive business day period. In December 2023, Nasdaq notified the Company that the listing staff of Nasdaq had determined to delist the Company's securities from Nasdaq. The Company appealed such determination to a Nasdaq Hearings Panel, which, in February 2024, granted the Company's request for an additional period to regain compliance with the Minimum Bid Price Rule. The Nasdaq Hearings Panel granted the Company until June 3, 2024 to regain compliance. On May 20, 2024, the Company received a notice from Nasdaq stating that the Company was delinquent in filing its Quarterly Report on Form 10-Q for the period ended March 31, 2024 (the "Form 10-Q") and was therefore not in compliance with Nasdaq Listing Rule 5250(c)(1). The notice indicated that such delinquency serves as an additional basis for delisting the Company's securities in addition to the failure to comply with the Minimum Bid Price Rule described above as well as the failure to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2023. In accordance with the notice, the Company submitted its response to the Nasdaq Hearings Panel regarding such delinquency and the Company's plan to cure such delinquency. The Company plans to file its Form 10-Q as soon as practicable; however, no assurance can be given as to the definitive date on which such report will be filed or the final decision of the Nasdaq Hearings Panel regarding a delisting of the Company's securities. As with the prior notices, the most recent notice from Nasdaq has no immediate effect on the

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that are intended to qualify for the safe harbor from liability established thereunder. Such forward-looking statements are subject to risks and uncertainties that are often difficult to predict, are beyond the Company's control, and which may cause results to differ materially from expectations, including the risk that the Company's intention to regain compliance with the Minimum Bid Price Rule will not be achieved or that the Company will not regain compliance with Nasdaq's listing rules. In addition, for a further discussion of factors that could materially affect the outcome of the Company's forward-looking statements and its future results and financial condition, see "Risk Factors" in Part I, Item 1A, of the Company's Annual Report on Form 10-K for the year ended December 31, 2022 and its other reports filed with the Securities and Exchange Commission. The Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 99.1 Press release dated May 24, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 1

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: May 24, 2024 OpGen, Inc. By: /s/ David Lazar Name: David Lazar Title: Chairman and Chief Executive Officer 2

View Full Filing

View this 8-K filing on SEC EDGAR