2023-03-30 15:34:33 ET
- OpGen ( NASDAQ: OPGN ) is trading 12.5% lower after Q4 GAAP EPS missed estimates as operating costs rose during the quarter.
- The company's revenues declined 49.7% Y/Y to $0.72M due to the termination of the FISH product line and the one-off non-exclusive sale of a portion of the ARES database.
- "In the post-COVID fourth quarter of 2022 and into the first quarter of 2023, we have seen that hospitals have a significant backlog of investment needs and are taking longer than pre-COVID to complete contracts. Nonetheless, OpGen has multiple contracts for Unyvero and Acuitas that we believe are in final review with purchasing departments at several hospitals,” the company said.
- For 2023, OpGen expects to have a net cash consumption of around $4.5 to $5M per quarter from its current operations.
- Sees global revenues from products, services and collaborations for 2023 to be in a range of approximately $4M to $5M.
- Press Release
For further details see:
OpGen falls 12% on Q4 GAAP EPS miss