OPGN - Earnings call transcript Q4 2019

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Operator

Ladies and gentlemen, thank you for standing by. Welcome to the Fourth Quarter 2019 OpGen, Inc. Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session. Instructions]. [Operator that being advised conference today’s be recorded. is Please Instructions]. [Operator

to Director of It is Relations, Managing pleasure my now Investor introduce Joe Green.

Joe Green

Welcome earnings update. Thank full mode. participants operator. to fourth listen-only OpGen you, quarter are year in XXXX this call At business and time, all the and

management the there a Q&A will Following be remarks session. prepared

this conference reminder, today, a being recorded March XX, As is XXXX.

and caution management Before we the future call made by may during well combined forward-looking comments of as operations begin, combination the I and business results of of you would as OpGen of transaction. this that the business like Curetis regarding contain to closing statements the conference following OpGen

XX-K, to including, described factors that which and review you or with filings may Exchange cause encourage actual without the to those company's Commission, the from results differ materially Securities statements. Form identify I limitation, events in specific OpGen's recent forward-looking the most

existing adoption the and of use isolates hospitals and bacterial commercialization providers our rate factors. situation in with of the results our economic for our and requirements; combine services are affect company Factors but not as the global the include, strategy; particular; current for may well the pandemic warrant the efforts; pursuit products achieve Curetis; our business commenced the business and FDA the Panel for other of and to, February Gene business effect and healthcare limited regulatory we implement the synergies impact clearance our expected the the that and services; combined in competitive successfully to of other AMR Acuitas company's ability products and other well our as offering the the general of recent by proceeds new of of and pandemic and from on of in use at-the-market as of XXXX in both coronavirus proceeds that coronavirus from as our operations; success exercises; OpGen current

time-sensitive no company after or contains any of of this this to date required only call, as conference information The as that of is this circumstances call, the statements events for undertakes call law. revise date obligation by except or the XXXX. content The live XX, reflect accurate to conference update March

the today and CEO; be Tim Chairman Joining CEO CFO be well the Schacht, Jones, OpGen; question-and-answer Evan Curetis as session. Oliver will call who as and available of Dec, of for will

At I over OpGen. the this of now to like to Evan would Chairman and time, turn call CEO Jones,

Evan Jones

and of update us we Thank you, the discuss On today's status operator, and and joining for thank everyone the afternoon. a provide combination this business between you business call, will OpGen Curetis.

We will review and year XXXX discuss result a and recent brief pandemic financial with of the developments to fourth quarter provide and COVID-XX OpGen’s activities for full regard results. global

we will this Oliver I to XXXX, agreement April. with a OpGen. combined N.V. Curetis create GmbH, implementation business to of a business be agreed September of subsidiary welcome our of over Curetis we CEO the Curetis the Oliver CEO transaction want acquire under to company which call entered combined N.V. Curetis assets with into an afternoon. of to in after In early the taking as Schacht, close

we in XX In of order combination. for meeting to adjourned the called connection with transaction, March to XX the originally a and March stockholders approve scheduled special

received business sufficient establish XX in combination to Curetis. today, with of our on special earlier announced reconvened the March for meeting have As we votes order to OpGen quorum approve

our combination today exciting two transaction the moment are favor XX% the for This April. received anticipate in and votes is of companies. closing early The by an we

demonstrated combining already benefits have businesses we to benefits expect and the future. the and in We our more synergies see of immediate

of outbreak how the quickly. moved announcement global COVID-XX of year, case of the by in the it comments in government XX have the COVID-XX pandemic on United our January my this identification begin very impacting to initial States things business. Chinese like first the would is discussing and the December the I to by From

you have daily Government every and regard over efforts impacting all the our worldwide last aspect travel shelter and of sure business days, directives regulations I’m of the borders been global our been fight updates closing virus following national of established to with it. restrictions. including and to the in place, lives and XX the have the

concern. plans test environment for risk are Impacts to impacted and surgeries from are work supply elective a positive at environment individuals rapidly who become chain the with are canceling has very deal our and virus pandemic. evolving implementing emergency challenging. have rising may preparedness who The the hospital disruptions Hospitals or are

regarding has The speak manage pandemic. U.S. could difficult it environment, not government pandemic are that this the become any to include related illness. increasingly and that XX projected the months has multiple could longer COVID-XX professionals In matters helping with waves or healthcare last of to

to virus working the against worldview have our in and our help we capitalize the our We to fight practices business as and is prepare this for tough opportunities the times case adopted operations society adjusting assist on and to facing. are

strong Fortunately, from positive crisis. have as near-term the for the outlook the company outlook we global the for big business and picture is a emerge we

kits, recognized pandemic as need is now a and marked The this as solutions first Europe need supplying tragic emphasizes medicine further strategic for by in the infectious test such rapid PCR CE-IVD DNA COVID-XX partner RNA develop testing. participating a early rapid and precision disease mover Curetis and BGI.

distribution kits East processing with in clinicians of Europe. well thousands BGI inbound in the as first been Union, and is made regions. and shipment has the distribution partners orders Curetis Africa, to Middle by of as from been significant Asia-Pacific Curetis first The labs, tests for and have partners European being receiving shipments interest received

test success bring taking to PCR rapid products and by bioinformatics we include possible COVID-XX to capitalize capabilities, are as the Across potentially product efforts initial services adjusting quickly DNA our help both and this on steps offerings. the as market of could that impact and companies, mitigate crisis. to could our development of services new products The sequencing

for addition to for claim a Respiratory to antibiotic labeling clearance testing Lower lavage the of markers. Panel received in Pneumocystis specimens, Curetis and its and expanded BAL, of an broad include use resistance range or for bacterial year, pathogens bronchoalveolar Unyvero last Late FDA

Unyvero uniquely immunocompromised only This This pathogen Unyvero the LRT in United cleared which makes in the FDA this the BAL first relevant test especially market test the indication key substantially and for differentiated new includes patients. addressable the and total increases system States.

free and transforming. planned many evaluations COVID-XX on overall new The is and appear resources. laboratory immediate this new for have Hospitals this the entirely business to and been pushed systems for outlook preparing product be new installations exciting to focusing crisis and matter currently system Unyvero health hospital out

surge in the anticipated COVID-XX ventilators, Tract likely acutely the in hospitalized in anticipated ill Respiratory rise cases, patients Unyvero Lower globally, ICUs pneumonia become patients. of for important and surge comorbidity hospitals them combating with in bacterial expected on test could complication the many a Conversely, in tool as many and the an

Europe the Unyvero In hard manage to hit co-infections. patients and at of risk regions help bacterial pandemic, other to life-threatening increasing use for are there the by expressions numbers test interest of

this As systems to a Unyvero help result, address need. is structured additional Curetis placements are developing and of programs critical anticipated

compared just in and these patients. triaging is ID pathogen for days with the to key is essence Unyvero selecting four hours can antibiotics take the the five Time patients. of profile antimicrobial Bacterial for culture to resistance Knowing test.

the the In need use SARS-CoV-X recently added to medical are a In accelerated emergency be Unyvero addition, through product FDA the market U.S., potentially the current with for expanded pathway. new to BAL we the LRT panel. would path authorization evaluating

financial and review I recent results who Dec the developments for call Tim? will over will for financial now turn XXXX to the business. Tim

Tim Dec

of highlights of financial you, months call, on XX%. compared compared Fourth with prior XXXX, fourth quarter the results. an Thank million and year increase I December in XX, of for On increase year approximately million period, Evan. touch the X.X full approximately XXX,XXX XXX,XXX today's revenue revenue was X.X the XXXX the XX X%. briefly quarter Total an the will in XXXX with was ended

Total operating December million compared million XX.X the ended XX expenses for to XXXX. XX.X XXXX for as XX, were months

transaction our you for of XX.X have operating operating with fees asset a the associated would expenses XXX,XXX right-of-use impairment XXXX business of million of the our If in reduction Curetis the expenses XXX,XXX, and the XX% exclude or combination been year-over-year.

the $XX.X our have on $XX.XX been call the two per $X.XX Curetis Since working in last we integrate compared for daily, weekly, if $XX.X team as year preparations XXXX. million million or share the was October, or loss in to with share per to Net not organizations.

the Numerous will forward and ensure key executives back forth comes immediately to combination have together. move been business across and members to team as be Atlantic the prepared we

We have combination a formalized of Board. the post closing

key team of executive members opportunities. numerous internal identified senior team management synergistic identified and Our financial other the

will of March shareholders be XX, the sole closing. As to combination Evan consideration at our Curetis Tuesday new OpGen to the million the mentioned, shares Approximately be purchase N.V. expect next Curetis rather. GmbH X.XX for Monday on as OpGen approved issued we by

revenue forma In the the transaction XXXX $X million would pro to $X announcement, million. be we estimate combined in

are We the XXXX our say been that for end revenue to at pro would million. high pleased have or forma range $X that of

time. that publicly at current will pandemic revenue we Due XXXX our situation, be expect this stated global any have grow. guidance previously or providing other the not We to we to revenue

call, combination. For our the key of rationale to listen number to this strategic would that those last to not items business I a did for like support that point

synergies. two companies and and potential brings U.S. the strong Curetis significant First, sales a marketing team revenue have together

strong a support has commercial distribution Curetis international a team. partnership network and Secondly, dedicated

has AMR investment will FDA lower Curetis and a been these for Panel million, state-of-the-art test outfitted bring that capabilities has Gene manufacturing With XX,XXX to with historic Third, inspected. approaching our $XX room cash market clean robotic foot with anticipate we square incremental to technology burn. help is capital

that to finally, combination. Ares annual other to range, bioinformatics we companies’ as comparing identify preliminary analytics capabilities combined estimates post of AMR reporting leveraged work to both with XX% XX% and potentially has when platforms. even saving data against Genetics areas XXXX databases, Curetis forma pro higher And actuals be in advanced the Fourth, are cost savings integrate our can

like would conclude updating on I everyone my position. cash remarks to by our prepared

weeks, past in stock. the to our six seen we have tremendous volume During five

high $X.XX. day achieved is price daily trading ago average shares with X million share week Our a at volume currently over per a

encouraged since million are raised offering. will warrants address combination certainty share see and issued OpGen-Curetis be $XX.X exercises the company's our mid-February our the business support stock to work of business for $X the XXXX through stock our have completed to pandemic we Because help to per respond We that October the that of ATM combination, coronavirus in our both successfully. the and price positive increased approximately public and the

Additionally, recently a months at basis selective capacity additional the been prospectus to the million. filed supplement access the coming by thus increased ATM time on capability under appropriate approximately has last a quarter. increase providing shelf our week capital We $XX.X our to and over

support position to sheet combination. XX.X the operations XXXX in This six of months, With calendar than the and be more combined capacity two raised can of over as organizations. is closing following capital a balance solid of our business look OpGen the combine used to the we during Curetis last approximately million

With that, key I’ll turn to discuss the Evan milestones. back additional to call

Evan Jones

Thank you, Tim.

the some the and will I Request commercial For in XXXX activities. comment July is May, Additional to letter. programs the AMR development of responded with what extensive Information an Panel call part submitted on agency called and Acuitas key questions Curetis the the XXX(k) OpGen FDA. we The in next of Gene isolates Last

to have the XXXX, we the we submitted which Through mid-January. we FDA continued questions additional majority to in of agency’s the January the from first responses after the received questions respond early posed by quarter, agency. to In the questions formal

address the to Gene Panel questions a review continuing isolate the with plan Acuitas OpGen is process. the FDA that have to to arisen interactive XXX(NYSE:K) of the working submission. complete during with additional shared AMR FDA's review FDA OpGen work The

planned pandemic. However, delays timeline result ongoing to anticipate the a of we the as COVID-XX

Acuitas Consequently, review second clearance of test and interactive the isolate unknown, completion. diagnostic timeline review we the the the for Panel AMR Gene ultimately remainder process anticipate is is the currently that anticipated process the for extensive although nearing

samples urine trial the Panel by March AMR clinical in accruals. spring all trial and enrollment began centers completion had given accruing the samples Acuitas de anticipated Gene by novo of was urine We early per nine December clinical and of the the rate mid we accruing for

notified last services have efforts trial as and Unfortunately control. will summer as currently is estimate trial clinical that suspending this until be support of laboratory clinical consequence sites We on the could COVID-XX pandemic, they freeze COVID-XX pandemic. early bring focus program under situation that sites a COVID-XX laboratory until the to the our clinical activities the to us testing

Health collaboration program planned a the Services groundbreaking a and New with antimicrobial-resistant and initiative. to to track, Department ILÚM similar wholly detect and digital We’ve a situation New develop seen subsidiary healthcare York York Solutions, State with state-of-the-art the institutions at Health State research manage owned of Merck’s OpGen health statewide. milestones in completed infections Healthcare of Solutions,

the the in to and been COVID-XX hold State, New participating York response emergency program the on In Wadsworth hospitals. by testing has put Center under

We for more provide available. have year of year the the project successfully continuation about of it information first completed the is the final and milestone will the when contract two into

Curetis’ able corporate has summer. the stay-at-home combat outbreak. smart by But Recently, teleworking been the subsidiary planned restrictive achievement far towards the of COVID team milestones some continue implemented work so of Ares Genetics Ares programs project most solutions. this the government the nicely are the partner help worker Austrian has the requirements to to proceeding entire

into experiments as avoid this become Ares looking might planned on laboratory reality. We alternative an scenarios should unable anticipate complete there may time. programs on some is to staff several Genetics to bottlenecks be be impact

the and presenting new challenges company help to for creating the this the have highlighted some delays COVID-XX opportunities our offset could the efforts, afternoon. related program we pandemic is co-development While COVID-XX themselves testing of

to opportunities challenges earlier, positioned we as a confident capitalize are is opportunities. restrictions combined we chain April. completed for the and disruptions, number enter with company significant the that to we our stay-at-home promising though well expected new business the be and both on we with of mentioned company. able Curetis will supply policies, Even As to protect faced be capitalize is employees travel new combination on The

for results for and are by In opportunities growth to closing, will look our We year our be encouraged your integrated with forward beyond. appreciate with business time combination this quarter business fourth full your and exciting pleased afternoon. We the XXXX. are Curetis we XXXX support pipeline our completing and and and what

back questions. would turn call to the for now I operator to the like

Operator

from [Operator the Instructions]. Yi comes of our H.C. with line And Wainwright. Thank you. first question Chen

Yi Chen

test be comment accounted Thank you. COVID-XX in you the shipment about my will Thank for BGI’s volume and kit of of Curetis? the and for taking what’s specifications revenue how question. you of Could the far, please thus economics for recorded for terms

Evan Jones

and Oliver for hand to Schacht going Yi, you, this your answer. I’m one in company. interest to Thank question to over the

Oliver Schacht

this Hi. Can line you Is open? hear me?

Yi Chen

Yes.

Oliver Schacht

standard specified ABI it’s fairly Okay. Look, Yi. or Thermo QIAGEN Perfect. assay. works BGI works Fisher a perhaps. extraction standard It have a with with They reagent It Thanks, we ABI, simple PCR other is one, recommend protocol. kit the plate-based test also works an platform, so the on XXXX; kit. RNA any but know it RNA

of last volume We’ve as our very In shipment. first of terms say from pointed Literally low really digit it’s early let’s out. Evan received gone thousands. single we days shipments, week

yesterday we number which digit five of tests. order second received Our the is first

how we expressions sales literally tests best processing European to leverage European have Curetis orders Because is interest. of through XX a We’re as out distributions to I What work work presence there we just existing say daily. figure through have thousand customer and past Axon is several and We market. and shipped distribution in hours and remember, Menarini, quite others. no can and effectively the these got hour direct by as most in longer you We at network. Labs, such the efficiently end our [indiscernible] and various

these existing a system. receiving also provide course and our also to anybody customers ABI France, said, Benelux we’ve stand won’t an Unyvero from we’re inundated, who primary willing and to has goal. say requests but Germany, also lot that’s been we’ve So kits calls XXXX inbound been where – by That I across of of hospitals

range. to They we purchased to and fairly transfer specific distribution price an to – somewhere partners. the off these straightforward. terms of and XX% industry a sell at XX% In fair upon margins, We’ve assume ship any of not here I’d warehouse pricing, it’s working molecular it kits our standard that Germany at but BGI. the in guided them price in to We diagnostic call say our we’re it’s transfer distribution from then agreed accounting, so to

green most from end countries of urgently a positive these BGI all definitely European straight who This Middle been Northern reselling tests we as the the hands Europe, the African, from into world expand we strict across here. well. again channel out to also have requests BGI regions initially the given across the gross distribution of doctors beyond and no network make then the labs pointed inbound to of as light but and the margin. get Evan as there’s we’ve to of Union of today and Asia-Pacific direct and Eastern them number boundaries our have bulk customer So a in need sure from buying is And

Yi Chen

Could you. if test you the both there’s additional Thanks. any, system? COVID-XX on also the Thank the synergy, test BGI using comment Unyvero between and

Oliver Schacht

Absolutely.

there about that’s very retrospective If intensive have also data clearly recent XX% a come co-infection. prevalence unit you to getting XXX pneumonia out at has showing of you XX% of patients a some look China, care of been about study a patients of that in bacterial patients

you If in been XX%, bacterial half, of look cases, the COVID deaths almost crisis of have at all the attributable pneumonia. mortality to

So that’s you soon the them for patients critical respiratory and diagnosis lower care while U.S. pneumonia of get a at make the to all and and critical core you unit potential of our to and really rapid the in and it the especially them also ventilated, course in triage Curetis an with coronavirus, portfolio pipeline panels product initially it’s sure of pathogens Europe and have as intensive as is diagnose

doctors gives the XX the to resistant treatment. antibiotic pathogens in of clearly in best U.S., been select have XX different and then ability XX So them detect markers also being the able Europe, different cleared to

We the pick we effective a do news is sure got to good make to have for bacterial opposed right virus, we patients. drugs the for pneumonia. course, care ones these critical just Of as

Yi Chen

it. Got you. Thank

Operator

Thank Partners. of our the comes Haynor Global you. And from Ben next Alliance line question with

Ben Haynor

Good reaching the for afternoon, a questions congrats quorum and taking on gentlemen. Thanks the vote. for

Just is Unyvero correctly, there prepared there chain on off the remarks, supply there for If me, to is in that heard is you some the are potential guys? impact those? any And for chain structured then you first any what those? I that And impact mentioned programs. supply

Evan Jones

Go ahead, Oliver.

Oliver Schacht

supply impacted going let not have plastics on can supply chain. knock far, the on have of instruments, side can need That to forward. Sure. what any by issues. supply we cartridges. immediate we Evan so I of reagents Curetis components, as course been change I’ll But In on of wood, comment the Europe, any our supply have chain manufacture as well we

so far so good. So,

very In terms a the facing obviously structured of interesting programs, you’re conundrum.

one what Unyvero pneumonia. inbound earlier, I for to parallel for additional there this the is On from bacterial significant hospitals testing systems hand interest in bring outlined

hand, are way virtually it On there’s hospitals, the with Northern inside physically across to borders other a lot of it’s closed Europe, Austria, Italy, into anybody literally no be the travel impossible. the Germany frankly even send these restrictions,

working that So Menarini they It initial all We’ve part an – also across necessarily training. for sort we and and pool somebody is additional have requests use. installation easy like potentially serve size, the we’ve that our by installation countries the part very of in increase right to Again, Italy, again, Southern several but places Unyvero European partners We’ll to us, also as that former fashion. available a hands-on make distribution some increase for offered in uncomplicated find have from and of is through pool doesn’t a have the quarantined to installation, where again, instrument to A we which we’re of Northern first – of agreed Menarini take virtually And smart And on standing units have That’s there we’re world being we’re goes of training. of real much video-based just that. a tutorials to in systems it Unyvero the headquartered programs with now the company, so we in how onsite clients in received end to facing, partner as of as our Skype have we key Italy going B, to the effectively in Europe to challenges you’d XX in figure Greece. we’ve show some solutions virtual our with working out direct in to programs. challenges to the nobody Europe staff the able smart is defined just a been the video WhatsApp-based assisting like trying those. be go but additional platform ways

Ben Haynor

Okay, And that’s -- very helpful.

Evan Jones

Sorry.

comments this. was I supply going say, Oliver maybe additional So mentioned to side some chain the on we’d of just have

enzymes PCR, ability do for a our we imagine on running but aware nasal you And people such by gated in there’s the no the to business. into impact producers our capitalize coronavirus the as swab the could on that be chain to start the to look immediate all things We more we produce you very as in emerging good sensitize required to But new by simple as have you’d to probably to ability shape as everything these area, opportunities trying these product specialty run getting and for get also supply even when want is open times. market. products, on with to are think we’re we in reagents get a that field difficult

Ben Haynor

helpful. is -- color that very Okay, And

Evan Jones

Fortunately, that thing – ahead. it’s okay, Ben, go

Ben Haynor

New just hold, any recognized thinking the that’s for But Okay. there there revenue understand program? about no be and quarter I on will State just it that I or York was And on during surprise there the guess. then program, QX, that in

Evan Jones

Go ahead, Tim.

Tim Dec

question. a that’s good Ben, Yes,

If in out you I’ll the maybe but year. years, in that will the let final recognizing of be touch we milestone last milestone remember, on there piece Evan was potential QX. one first final

Ben Haynor

Okay.

Evan Jones

help being How and terms state resources. beyond? that has ways situation. and that manage this full capability New things the interesting is the all this of go promising very develop patient the rest surge. as showing And deck that to metro do the data But AMR detection year the this, certainly evaluation on It’s imagine there, the pathogen was this, we of Phase for our can of the area side get up of and posted. COVID records, programmatic shown after of we including in real-time things system initial repurposed be running you the infrastructure hands to York they back may And one full you at meaning some of patients to COVID-XX through as X as potentially of and we’ll whole in passed this keep side

Ben Haynor

Okay.

So tracking so, that could and that kind and final the of that as thinking pathogen there? on my expanded that And into just the question, you if already track flows doing you’re about Lighthouse viruses guys Is the well? what bacterial something side. are be doing

Evan Jones

So Ben. I’ll over there, wants Clearly if add and to it to answer this anything. opportunities he then Oliver hand

I just we describe, it forward month or to two. ahead to think and want will – if the in get bring there’s we of things don’t more coming

Oliver Schacht

a clearly the I a whether a software, obviously a per haven’t letters the there, is of the point Evan also a or Ares again, simpler But on se to and/or of [ph] how is forward. update dozens in with the doable? laboratory add, get also the answer final bacteria this it we decisions we’ll U.S. In sequence so New said, other but beef York technically Genetics, State at is standpoint an Lighthouse to many from Europe, would RNA different just so standpoint with best having any acid it’s we is as virus bacterial approach this The much the a nor nucleic partners as than folks to from we resistant. virus not technical here made individual ways, collaborative single that with or is technologically a and move yes. in algorithms OpGen Austria side DNA ARESdb neither just potential development

Ben Haynor

Okay, taking the great, for questions, the Thanks fair enough. gentlemen.

Evan Jones

Thanks, Ben.

Oliver Schacht

Thanks, Ben.

Operator

Thank of the our Edison you. Jacobs with line comes Maxim Group. next question And from

Maxim Jacobs

of landscape COVID-XX My for a give us but is was are that that can is Curetis testing understand one COVID-XX wondering you the taking fluid, sense test available rather just I – that? others stands Hi, in for I compared my Thanks guys. questions. if where the to first

Evan Jones

the talking talking about test Curetis If future you’re potential kit BGI Unyvero? you’re talking you about are a – about or the

Maxim Jacobs

BGI The test kit.

Evan Jones

Eastern Europe Got Covis in testing, and all to a of more in a it’s realize fewer farther Thermo platforms a Europe the and but likely for thing opportunities that the take platforms. well platforms require have in platform as got you It’s time. sort segment. or in ultra-high tens greatest in they way been the at Covis thousands of have States, fans, but There’s often dramatic the but and Europe, sort a bulk the to XXXX Europe lot the those into lower a labs you to a really platform; testing for The volume, ABI Fisher way it’s of labs. through be central It’s COVID-XX established, They’re a tests a landscape. long of going of United There’s widely more distributed ABI medium is universe workhorse it, honestly Roche, which a test very fits substantial when you fluid, Look, the BGI coming antigens. short the it thousands, XXXX one that capital types very really out both is throughput workhorse Roche, of tests situation. go lot of around labs have outlay out PCR of Southeastern understood. are it’s these of the the [indiscernible] kit if platforms and latest fewer they okay, almost doesn’t the simple very volumes home do for Sure. that Where order. processing not of look sheer if is in middle said

XX standard it volume again, throughput, we’re So medium let’s playing this in call plate. well

but So XX,XXX also tests it’s single do it’s to in not onesies not and a twosies, shift. designed

of tests the readily those that that’s who really all of mid the platform the again is those range spot in labs and the and So where in getting sweet focus that’s have hands available.

this out If platforms, is these to the there’s frankly use no also it true kit standpoint, ABI been at from you diagnostic, you the for for other the also look work this instructions BGI but technical look PCR validated PAC the but believe on regulated and reagent also a many being has insert on reason others that generic and kits at on it would not many of CE Mark PCR course XXXX. equipment are a and

are this too cute labs. have other platforms. it folks equally of be Fisher our we and surprised other at own at Thermo works if a PCR works looking on Now in not bunch if getting platforms, platforms on from would – I We as well those it know other some looking of

actively certainly promoting not of instruments terms the of in something things can but on. run universe that those, be expanding this can it as for at We’re it’s looked evolve

Maxim Jacobs

very just of that wondering prospect I the market? U.S. test Great, for helpful. was what’s was the a developing

Oliver Schacht

kit BGI FDA the has Well, under cleared been Authorization. Emergency Use the test

Given with is this longstanding BGI, strategic our Absolutely. having we’re with a them? conversation partnership

any by don’t But are use this volume on bulk standpoint, the as kits BGI its Now the of we has in commercial China, of today. regulatory has as visibility available decisions been in now. so made this. last U.S., in good authorized have in available in But United have are is Where the through operations principle, in there. States coming on on so European available I in visibility also United have the The physically Denmark, emergency own because of I FDA. affiliate their terms test there been have direct and no out States, that’s a in European visibility week, inventory, there is, they test from they channels the that their by Germany

Evan Jones

here. Evan Max,

Unyvero coronavirus Just the the Panel. goes into wanted that under talked looking North want test don’t other that the LRT we American market we some earlier, And then the Use but moved add could that to fairly at done do about adding If opportunities, been others. forward, be the potential script the activities just of thing Authorization of on one duplicate we’re the have quickly. Emergency also by to already is that to

moves think while company position that I to we’d look here smart its the on I to So it mentioned. make just the on products strategic two capitalizes

Maxim Jacobs

was My filed the wondering, last last minor kind the is after week, extremely for Wonderful. left under was much right that just how now? helpful. was is Tim. question so one I ATM amendment That of

Tim Dec

XX a significant left, of million. in amount excess There’s Sure.

Maxim Jacobs

all that’s you, Thank questions. Okay, That’s everything. guys. my

Evan Jones

you. Thank

Operator

Thank Jackson our with Benchmark Bruce the from comes you. next Company. of question And line

Bruce Jackson

you the address some give device. for for or are a work asking? Hi. time FDA and wanted on? Are what to of questions might the Can take sense thank off I my the Good of you questions that with start are taking questions. types afternoon Acuitas to XXX(k) easy us to questions these that they is

Evan Jones

question. the one. answer Bruce, here. thanks for Jones I’ll that Even

State the are let that all having businesses. say me of near-term of function just a First, nonessentials Maryland the shutdown delays primarily

And remotely, so anticipated capable working though there. causing delay that’s is the and FDA near-term even is understandable

things In terms product of you can and labeling to into I without they’re of type related the that tell that the details getting a like remaining of that. lot questions, questions are

Bruce Jackson

– where customers? if really Okay, flow And the if you some helpful. constrained, you’ve you preferred Do great. That’s said get get can the SARS-X you any status got relationship of your then the to you visibility. of of product get they place terms and continue supply type to in have supply in test, BGI

Evan Jones

the good in so. No. very too? like many were We partners the believe here commercial Understandably many, We the been partnership But years. That’s contractual on Europe. it in would Is first to opportunity in Chinese No. called in they I January they Curetis relying for not they’re alone with question. ones writing? first I’ve offered ones a Europe. were dealing

the and representatives one headquarters China. close partners. corporate have are a in a Shenzhen But direct also very have European of channel we we we with communication to So several dialogue in

been short been give XX did hours volumes only tell I knew. they’ve these we’ve you I literally a far very were us we’ve of If next last up products. we I but your They we kits and proactively mold on actually week’s been that ask, selling heads in good. where morning, going get can those kits to sold last some inbound. what’s them take? I’ve sold this So They receive knew I Friday.

– do have kits hope been and so it’s trust the as far made only week – possible. in from I to and into What market of can distribution those quickly the first again, a partners see shipment. getting our the as again, partner. way they justify hands we that that a So, preferred that in obviously relationship stays us utmost that by We

shipment that is The XXx the to a assumption next the shipment was going one. It’s second the larger. getting first again size we’re safe be yet of

safely volume increasing. we getting a be So can definitely we’re the what’s weekly going feel and that that number for our channels, put into is to likely

corporate even between hectic and as and continue benefit Curetis from things more even relationship yes, so get but And here. BGI will this crazier we to think I also personal

Bruce Jackson

Okay, much. you great. Thank very

Operator

further CEO, I’m over And call questions no closing I’ll With time. remarks. this turn to for showing that, you. back Jones, at Evan the Thank

Evan Jones

for of and you questions. Thank thank the community, those attending from you everyone for analyst your today you

lot a doing around the the forward thank And We to very updating we’re and things continue things. moving you and look company work there’s right progress as see, of we quickly. can you much. are As you now excitement to

Operator

for in participating Ladies the gentlemen, conference. and you program. does conclude This today’s thank

You may now disconnect.

OpGen (OPGN) 24 Mar 202019 Q4 Earnings call transcript