NEW YORK – OpGen announced Wednesday its preliminary revenues for the second quarter of 2020 increased 20 percent to $1.2 million compared to $1 million in the same quarter of 2019.
The Gaithersburg, Maryland-based firm said it had $12.8 million in cash at the end of Q2.Â
OpGen President and CEO Oliver Schacht said in a statement that the company is pleased with the initial results and has "taken decisive action in reprioritizing our R&D efforts to ensure the long-term durability of our business." At the beginning of the second quarter, the Gaithersburg, Maryland-based firm officially merged with Curetis, which the company noted was reflected in the preliminary financial results. Schacht said OpGen and Curetis' R&D portfolios, operations, and teams have been integrated successfully.Â
After submitting its Acuitas AMR Gene Panel to the US Food and Drug Administration for clearance last year, OpGen noted it believes the submission is nearing completion. The firm has provided additional information upon request from the FDA but said the COVID-19 pandemic has impacted the agency's review timeline.
The company also said the German Federal Ministry for Economic Affairs and Energy is currently investigating the merger with Curetis "with regards to its impact on the public order and security" of Germany, along with national healthcare interests as a result of the pandemic. The firm said it has responded to the questions it has been asked by the ministry.
Earlier this week, OpGen announced a partnership with Menarini Silicon Biosystems to sell the Cellsearch system and circulating endothelial cell kit for COVID-19 applications in North America. Last month, the firm expanded its collaboration with the New York State Department of Health to develop a way to track, detect, and manage antimicrobial-resistant infections at healthcare facilities in the state.