OpGen

The revenue growth was driven by an increase in collaboration revenues, which offset declines in product sales and lab services revenues.

The firm reported revenues of $990,912 compared to $1.0 million a year ago, as product sales dropped 23 percent and collaboration revenues rose 157 percent

The collaborative study includes testing urine samples from patients who have an increased risk for complicated urinary tract infections.

OpGen recently launched the first Acuitas test, which is designed to detect the most common bacterial causes of complicated urinary tract infections.

The firm said it will use the net proceeds for R&D, including the continued development of its Acuitas AMR gene panels.

The Nasdaq has told the firm that it is in compliance with all applicable listing standards and that its meeting with a hearings panel has been cancelled.

The firm said it will use the net proceeds for R&D, including the continued development of its Acuitas AMR gene panels.

The company is taking the step to continue listing its shares on the Nasdaq, which had warned OpGen that did not meet a listing requirement calling for a minimum bid price of $1 per share.