In an SEC document, the company said net proceeds are expected to be $5.8 million and will be used to support an anticipated submission to the FDA, among other things.
The company has been gearing up to submit its Acuitas AMR Gene Panel product to the US Food and Drug Administration for regulatory clearance.
The company said it expects to submit its Acuitas assay for common causes of urinary tract infections to the US Food and Drug Administration early next year.
The firm said it will use the net proceeds for R&D, including the continued development of its Acuitas AMR gene panels and Acuitas Lighthouse software.
The firm anticipates submitting its Acuitas AMR Gene Panel u5.47 for urinary tract infections and antibiotic resistance to US regulators by early next year.
OpGen will provide genetic panels and analysis software to the DOH's Wadsworth Center while Merck's Ilúm will provide health data aggregation and insights.
The firm's lab services and product revenues fell year over year, but collaboration revenues increased during Q2.
The revenue growth was driven by an increase in collaboration revenues, which offset declines in product sales and lab services revenues.