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Nano-Cap OpGen Skyrockets On COVID-19 Connection

Shanthi Rexaline

OpGen Inc (NASDAQ: OPGN) shares were ripping higher Monday in reaction to an announcement regarding a COVID-19 test kit from German molecular diagnostics company Curetis, which OpGen has agreed to merge with.

Curetis said it has begun offering a CE-IVD-certified real-time PCR test kit for SARS-CoV-2, the virus causing COVID-19, OpGen said.

The test kit, developed and manufactured by Curetis' Chinese strategic partner BGI, was cleared by the Chinese authorities in January. It was CE-IVD certified on Feb. 28. 

CE certification indicates the product is in conformity with health, safety and environmental protection standards for products sold in the European Economic Area.

The BGI COVID-19 test kit allows labs to perform testing of nasopharyngeal swabs and bronchoalveolar lavage fluid. It has all necessary reagents and controls to test up to 48 patients in just a few hours, according to OpGen. 

The test is to be made available to labs in Europe through Curetis' network of distribution partners as well as directly by Curetis in countries where its distribution partners are not equipped to supply the test at short notices.

"We commend both Curetis and BGI Group for swiftly bringing this important product to market in a time of greatest need. As Covid-19 spreads across the globe, rapid testing technologies will be critical to the containment and ultimate treatment of the outbreak in Europe and beyond," OpGen CEO Evan Jones said in a statement. 

The stock was rallying 105.96% higher to $4.14 at the time of publication Monday. 

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