Skip to main content
Premium Trial:

Request an Annual Quote

OpGen Prices $12M Stock Offering

NEW YORK (GenomeWeb) – OpGen announced today that it has priced its public offering of approximately 3.7 million units of common stock and common warrants at $3.25 per unit.

The firm expects to raise $12 million in gross proceeds.

Each unit being offered is comprised of one share of common stock and one common warrant to purchase one-half of a share of common stock. Each common warrant will expire five years from the issuance date.

OpGen said that it intends to use the net proceeds for research and development, to support acquisitions of products and technologies, for capital expenditures, working capital, and other general corporate purposes. Specifically, the firm said it plans to fund the continued development and manufacturing of its Acuitas AMR gene panels, including its Acuitas AMR Gene Panel u5.47, which was recently released for Research Use Only.

HC Wainwright is acting as the sole placement agent for the offering, which is expected to close on or about Feb. 6.

In January, Opgen announced that it will carry out a reverse stock split of its common shares in order to increase its stock price and continue listing its stock on the Nasdaq.

OpGen's shares were down nearly 21 percent to $2.90 in morning trading on the Nasdaq.

The Scan

Cancer Survival Linked to Mutational Burden in Pan-Cancer Analysis

A pan-cancer paper appearing in JCO Precision Oncology suggests tumor mutation patterns provide clues for predicting cancer survival that are independent of other prognostic factors.

Australian Survey Points to Public Support for Genetic Risk Disclosure in Relatives of At-Risk Individuals

A survey in the European Journal of Human Genetics suggests most adult Australians are in favor of finding out if a relative tests positive for a medically actionable genetic variant.

Study Links Evolution of Stony Coral Skeleton to Bicarbonate Transporter Gene

A PNAS paper focuses on a skeleton-related bicarbonate transporter gene introduced to stony coral ancestors by tandem duplication.

Hormone-Based Gene Therapy to Sterilize Domestic Cat

A new paper in Nature Communication suggests that gene therapy could be a safer alternative to spaying domestic cats.