OpGen

Nasdaq told the firm on Tuesday that its shares failed to maintain a minimum bid price of $1 per share for at least 30 consecutive trading days.

The companies will combine OpGen's Acuitas Rapid Test for Pathogen ID and Thermo Fisher's new mid-throughput real-time PCR system.

The company said it will use the proceeds of the offering for, among other things, development of its Acuitas rapid antibiotic resistance diagnostic product candidate.

The firm does not meet a listing requirement calling for at least $2.5 million in stockholders equity and has 45 days to submit a plan to regain compliance.

The company's laboratory services and product revenues both dropped during the quarter.

The company’s laboratory services and collaboration revenues rose in Q4, but these were offset by a decrease in product sales.

The company also reported that its preliminary full-year 2016 revenues rose 27 percent year over year, thanks to steady sales in its QuickFISH business.

Merck will provide OpGen with access to its library of bacterial pathogens in order to support OpGen's development of rapid DNA tests and a pathogens database.

The company attributed the fall in revenues to decreased sales of rapid pathogen identification and legacy genome mapping products.