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OpGen Stock Price Was Up 25.7% After the FDA Approved Its Antibiotic Gene Panel

Simon Mugo trader
Updated 4 Oct 2021

OpGen Inc (NASDAQ: OPGN) stock price was up 25.7% during premarket trading after receiving (510k) clearance from the US Food & Drug Administration (FDA) to market its Acuitas® AMR Gene Panel within the USA.

The company confirmed that the Acuitas® AMR Gene Panel detects 28 genetic antimicrobial resistance (AMR) markers in isolated bacterial colonies from 26 different pathogens.

Physicians can use the panel to determine the best treatment course by identifying the potential antibiotics that an individual’s body might be resistant to and which ones are likely to be effective in treating the individual.

Physicians can use the panel to identify potential antimicrobial resistance patterns early and determine the best treatment options when treating diseases using antibiotics.

The markers identified by the panel could lead to inappropriate treatment of patients with antibiotic drugs that the disease pathogens in their bodies are resistant to.

OpGen intends to reduce the indiscriminate overuse and misuse of antibiotics, leading to a dramatic increase in cases of antibiotic resistance in the US and globally.

According to recent data from the Centers for Disease Control and Prevention (CDC), drug-resistant bacteria cause almost 3 million infections and 35,000 deaths a year in the United States alone.

The Acuitas® AMR Gene Panel provides a fast and reliable solution for rapidly detecting antimicrobial resistance markers associated with previously identified pathogens.

Investors cheered the move, as evidenced by today’s rally

OpGen stock price.

IG chart of OpGen share price 04-10-2021

OpGen stock price was up 25.72% during premarket trading to trade at $3.47, rising from Friday’s closing price of $2.76.

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Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading