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OpGen Reports Fourth Quarter and Full Year 2017 Financial Results
Mar. 16, 2018 08:29AM PST
Genetics InvestingOpGen (NASDAQ:OPGN) today reported financial and operating results for the three and 12 months ended December 31, 2017, and provided a summary of recent business highlights. Total revenue for the fourth quarter of 2017 was $1.0 million, compared with $1.0 million for the fourth quarter of 2016. As quoted in the press release: “During 2017 we …
OpGen (NASDAQ:OPGN) today reported financial and operating results for the three and 12 months ended December 31, 2017, and provided a summary of recent business highlights. Total revenue for the fourth quarter of 2017 was $1.0 million, compared with $1.0 million for the fourth quarter of 2016.
As quoted in the press release:
“During 2017 we completed the initial development of our Acuitas® AMR Gene Panel and the Acuitas Lighthouse® Software for management of patients with complicated urinary tract infections (cUTI). The new Acuitas AMR Gene Panel u5.47 test for Research Use Only (RUO) was released for commercial sale in the first quarter of 2018 for infection control purposes and for pharmaceutical surveillance studies,” said Evan Jones, Chairman and CEO of OpGen. “The test detects 5 pathogens and 47 gene targets that span 600 subtypes and convey resistance to nine classes of antibiotics directly from urine. Clinical verification studies are underway, and we anticipate beginning clinical trials in the second quarter in support of a 510(k) filing for clinical use of the test with the U.S. Food and Drug Administration by the end of the year.”