2023-08-14 14:34:35 ET
HC Wainwright has downgraded OpGen ( NASDAQ: OPGN ) to neutral amid concerns the company may file for bankruptcy.
The investment bank noted that OpGen revealed last week in its Q2 earnings report that it only had enough cash to fund operations to September and has substantial doubt that it can continue as a going concern. The company said it was looking at various strategic alternatives, including filing for bankruptcy under US and applicable foreign laws.
HC Wainwright said it was downgrading the stock without a price target while it waits for additional updates from the company.
More on OpGen:
OpGen, Inc. ( OPGN ) Q2 2023 Earnings Call Transcript
OpGen GAAP EPS of -$0.93 misses by $0.22, revenue of $0.74M misses by $0.16M
For further details see:
HC Wainwright downgrades OpGen amid bankruptcy concerns