OpGen Inc. Faces Delisting Concerns

TL;DR

OpGen might get kicked off the exchange, stock could be toast.

AI Summary

OpGen, Inc. filed an 8-K on June 11, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard. 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 issues with OpGen's continued listing on an exchange, which could impact its stock trading 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 investors.

Key Players & Entities

• OpGen, Inc. (company) — Registrant
• 9717 Key West Avenue, Suite 100, Rockville, MD 20850 (location) — Principal executive offices
• June 5, 2024 (date) — Date of earliest event reported
• June 11, 2024 (date) — Date of report

FAQ

Key Financial Figures

• $1.00 — iled to maintain a minimum bid price of $1.00 per share for the 30 consecutive busine
• $2,500,000 — intain stockholders' equity of at least $2,500,000 or to meet the alternatives of market v

Filing Documents

• opgeninc_8k.htm (8-K) — 29KB
• 0001829126-24-004077.txt ( ) — 198KB
• opgn-20240605.xsd (EX-101.SCH) — 3KB
• opgn-20240605_lab.xml (EX-101.LAB) — 33KB
• opgn-20240605_pre.xml (EX-101.PRE) — 22KB
• opgeninc_8k_htm.xml (XML) — 4KB

01 Notice of Delisting or Failure to

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. As previously disclosed, the listing staff of The Nasdaq Stock Market LLC ("Nasdaq") notified OpGen, Inc. (the "Company") on June 5, 2023 that the Company's common stock had failed to maintain a minimum bid price of $1.00 per share for the 30 consecutive business days preceding the date of such notice as required by Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Rule"). In December 2023, 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. On June 5, 2024, the Nasdaq Hearings Panel notified the Company that it had regained compliance with the Minimum Bid Price Rule. In addition, on June 5, 2024, the Company received a notice from Nasdaq stating that the Company is not in compliance with the minimum stockholders' equity requirement for continued listing on Nasdaq. Nasdaq Listing Rule 5550(b)(1) requires companies listed on the Nasdaq Capital Market to maintain stockholders' equity of at least $2,500,000 or to meet the alternatives of market value of listed securities or net income from continuing operations. The notice indicated that such delinquency serves as an additional basis for delisting the Company's securities from Nasdaq. In accordance with the notice, the Company submitted its response to the Nasdaq Hearings Panel on June 11, 2024 regarding such delinquency and the Company's plan to cure such delinquency. As with the prior notices received by the Company, the most recent notice from Nasdaq has no immediate effect on the listing of the Company's securities on The Nasdaq Capital Market. There can be no assurance that the Nasdaq Hearings Panel will grant the Company additional time to cure such deficiency or, if additional time is granted, that the Company will be able to regain compliance with

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K contains "forward-looking 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 Nasdaq's listing rules will not be achieved. 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, 2023 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 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: June 11, 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