OpGen, the precision-medicine company, has experienced a significant surge in its shares in premarket trading on Thursday. This came after the company announced that it is in discussions with an unnamed investor regarding a potential strategic transaction.
According to a filing with the U.S. Securities and Exchange Commission, OpGen has agreed to a private placement of $1 million worth of preferred stock with the investor as part of these ongoing talks.
Furthermore, OpGen revealed in a separate filing that its Curetis unit has received an advance payment of nearly $800,000 from an undisclosed strategic partner. This payment is related to the sale of certain Unyvero A50 systems. Additionally, there is a possibility for the partner to purchase additional systems while both parties continue to explore the potential strategic transaction.
Previously, OpGen had expressed concerns about its financial situation and raised doubts about its ability to sustain its operations. However, with the proceeds from these two transactions, the company intends to fund its ongoing operations as it actively pursues a deal.
OpGen shares, which ended trading at 33.6 cents on Wednesday, recently surged to $2.12 in premarket trading.