Is This Why The OpGen (OPGN) Stock Rose Premarket Session?

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As of last check in premarket trading, OpGen Inc. (OPGN) was up 10.81% to trade at $2.87. OPGN stock rose 1.97% on Friday to close at $2.59 a share. OPGN stock traded at a volume of 0.54 million shares, below the average volume of 0.89 million shares over the last three months. The OPGN stock fluctuated between $2.50 and $2.6052 during the trading session. OPGN had -1.73 earnings per share ratio.

In the previous five sessions and over the past month, OPGN stock gained 7.02% of its value, while its year-to-date performance amounts to 26.96%. A 50-day moving average of $2.33 is higher than a 200-day moving average of $2.30 for OPGN stock. Furthermore, OPGN stock is currently trading at a RSI of 56.31. OPGN stock is rising after its quarterly results were released.

Has OPGN shared encouraging results?

OpGen Precision medicine company OpGen uses molecular diagnostics and bioinformatics to fight infectious diseases. OPGN, along with its subsidiaries Curetis GmbH and Ares Genetics GmbH, produces molecular microbiology solutions to assist clinicians in identifying and treating life-threatening infections before they spread to improve patient outcomes and decrease the spread of infection caused by multidrug-resistant bacteria. OPGN offers Unyvero, Acuitas AMR Gene Panel, and Acuitas Lighthouse, as well as the ARES Technology Platform and ARESdb, which offer antibiotic response prediction using NGS-based technologies and AI-based algorithms.

For the quarter and six months ended June 30, 2021, OpGen recently reported its financial results.

OPGN Stock Results for the quarter:

  • OPGN generated approximately $0.8 million in revenue in the second quarter of 2021, down 32% from $1.2 million in the second quarter of 2020.
  • In the second quarter of 2021, OPGN’s operating expenses were about $7 million, down from $7.7 million the previous quarter.
  • OPGN reported a net loss of $7.1 million, or $0.19 per share, for the second quarter of 2021 compared with $7.5 million, or $0.49 per share, for the same quarter in 2020.
  • On June 30, 2021, OPGN had cash equivalents of $31.2 million as opposed to $13.4 million on December 31, 2020.

Results for the half-year:

  • Total revenue of $1.6 million was generated by OPGN during the first half of 2021, compared with $1.8 million during the first half of 2020.
  • A total of approximately $14.0 million was spent on operating expenses by OpGen (OPGN) in the first half of 2021, compared to $12.3 million in the first half of 2020.

For the first half of 2021, OPGN’s net loss was $21.9 million, or $0.65 per share, while its net loss for the first half of 2020 was $11.4 million, or $1.00 per share.

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