In the collaboration space, OpGen Inc (NASDAQ: OPGN) is making headlines this morning after announcing a collaboration of its own. As you could imagine, the news is exciting investors who are reacting by sending the stock upward. Today, we’ll talk about:
- The collaboration;
- what we’re seeing from OPGN stock as a result; and
- what we’ll be watching for ahead.
OPGN Climbs On Collaboration News
As mentioned above, OpGen is headed up in the market this morning after announcing a collaboration. In a press release issued early this morning, the company said that it has entered into an agreement with QIAGEN. The agreement surrounds the advancement of rapid diagnostics for antimicrobial resistance (AMR).
OPGN expects that the collaboration will strengthen its entry in the United States market. The two companies will commercialize a new solution for the detection of multidrug resistant bacterial pathogens, based on QUIAGEN’s EZ1 Advanced XL automated nucleic acid purfication instrumentation and kits for the United States.
The ompany said that the EZ1 will be used in the test workflow for the Acuitas® AMR Gene Panel u5.47 products. The AMR Gene Panel family of rapid diagnostics tests was designed to detect and identify multidrug-resistant pacterial pathogens in urine and bacterial isolates. Perhaps most importantly, this detection takes only two hours to accomplish.
According to the terms of the agreement, OPGN will purchase EZ1 instruments and regiment kits from QIAGEN and sell or place them with customers in the United States. In a statement, Evan Jones, Chairman and CEO at OPGN, had the following to offer:
We are pleased to collaborate with QIAGEN to further strengthen our AMR Gene Panel offering… The EZ1 provides best in class nucleic acid purification technology, and QIAGEN’s extensive global commercial capabilities and diagnostic expertise should provide multiple opportunities for collaboration in the future.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. In the case of OpGen, the news proved to be overwhelmingly positive. After all, through the relationship with QIAGEN, the company now has the ability to strengthen its product offering and expand revenue in the United States. So, it comes as no surprise that excited investors are pushing the stock on a run for the top. As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:08), OPGN is trading at $1.40 per share after a gain of $0.22 per share or 18.64% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on OPGN. In particular, we’re interested in following the story surrounding the company’s continued work surrounding its entrance into the United States market. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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