In this morning’s premarket session OpGen Inc. (NASDAQ: OPGN) shares are up 2.17% at $2.35. At $2.30, OpGen stock ended last trading session up 5.99%. In the past 50 days, the OPGN stock has recorded a daily trading volume of 11.83 million shares on average, but the volume of 1.04 million shares traded in the last session came well below that average.
There is a price-to-cash-flow ratio of 6.93 for OPGN stock, and its price to sales ratio is 22.11. The OPGN stock has not been rising with a current trend but recent movements may help us understand the stock’s potential.
OpGen is a precision medicine company that harnesses bioinformatics and molecular diagnostics to combat infectious diseases. In partnership with subsidiaries Curetis GmbH and Ares Genetics GmbH, OPGN is working to improve patient outcomes with its molecular microbiology solutions in order to better protect patients from life-threatening infections caused by multidrug-resistant microorganisms, or MDROs.
The OpGen announced last week that its strategic collaboration with the New York State Department of Health (“DOH”) will continue six months beyond the second-year expansion period through September 30, 2021.
Collaboration between the two organizations was intended to devise a state-of-the-art strategy to detect, track, and manage antimicrobial-resistant conditions in health care facilities statewide.
As testing volumes have increased substantially from fall of 2020 until the end of March 2021 as a result of the COVID-19 pandemic, the extension and expansion phase allows all stakeholders to generate substantial numbers of test results as testing volumes have been growing substantially throughout the rest of the year.
OPGN said that it will continue to partner with the Wadsworth Center at DOH and other healthcare systems to expand the platform’s reach, enhance data collection, and increase the volume of testing.
Why it was extended?
All milestones from the first and second years have been achieved by OpGen (OPGN) for developing a digital health platform for infectious diseases and precision medicine. The OPGN platform enables healthcare institutions to communicate seamlessly with DOH and uses genomic microbiology to monitor and control antibiotic resistance statewide.