- OpGen ( NASDAQ: OPGN ) shares dropped 8% Wednesday morning after the precision medicine company reported prelim full year revenue of approximately $2.7M, which is within the firm's guidance range but below consensus estimate of $2.85M .
- The year-end cash position as of December 31, 2022 amounted to ~$7.4M.
- Oliver Schacht, president and CEO of OpGen, commented: "Despite the many challenges during 2022, we delivered on several key milestones that were planned for the year. {...} The funnel of new commercial customer contracts and new accounts having begun ordering products and services from OpGen globally provide a solid foundation for revenue growth in 2023."
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OpGen stock dips as prelim annual revenue falls below consensus