OpGen, Inc. Announces Preliminary Unaudited Results for the Fourth Quarter and Full Year Ended December 31, 2016
January 26, 2017 at 09:53 pm
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OpGen, Inc. announced preliminary unaudited results for the fourth quarter and full year ended December 31, 2016. Total revenue for the full year ended December 31, 2016 was approximately $4.0 million, a 27% increase from the $3.2 million recorded for the full year ended December 31, 2015. Net loss for the full year ended December 31, 2016 is expected to be in the range of approximately $19.0 million and $19.5 million. Full year 2016 net loss at the midpoint of the range represents an increase in the net loss of approximately 11% from $17.4 million in the full year 2015.
Total revenue for the fourth quarter of 2016 is expected to be approximately $1.0 million, a decrease of approximately 24% from $1.3 million in the fourth quarter of 2015 and an increase of 32% from the $0.8 million recorded in the third quarter of 2016. Net loss for the fourth quarter of 2016 is expected to be in the range of approximately $4.6 million and $5.1 million. Fourth quarter 2016 net loss at the midpoint of the range represents no change from $4.8 million in the third quarter of 2016 and an increase in the net loss of approximately 3% from $4.7 million in the fourth quarter of 2015.
OpGen, Inc. is a precision medicine company that uses molecular diagnostics and informatics to combat infectious diseases. The Company distributes molecular microbiology solutions that help guide clinicians with more information about life threatening infections to improve patient outcomes and decrease the spread of infections caused by multidrug-resistant microorganisms (MDROs). The Company's product portfolio includes Unyvero Lower Respiratory Tract Panels, Unyvero Urinary Tract Infection Panel, Unyvero System, and Unyvero Resources. The Unyvero LRT panels enable comprehensive detection of the most clinically relevant pathogens and antibiotic resistance markers. The Unyvero Urinary Tract Infection (UTI) panel simultaneously identifies a comprehensive range of pathogens and antibiotic resistance markers associated with urinary tract infections. The Unyvero system uses multiplex PCR technology to simultaneously test for a range of microorganisms and antibiotic resistance markers.
OPGEN, INC. 
