Company: OPGN
Filing Date: 2025-08-21
Form Type: 10-K
Source: 0001829126-25-006628
Chunk: 425

Company: OPGEN INC
Filing Date: 2025-08-21
Form: 10-K
Item: Item 1C
Chunk 425
---
 its legacy operations. The breakdown of total revenues is as follows:

    ●
    Product Sales: the decrease of approximately 93% during the year ended December 31, 2024 compared to the same period in 2023 is primarily attributable to the exclusion of Curetis’ and Ares Genetics’ product sales in the 2024 period following their insolvency filings in November 2023 as well as the scaling down of legacy operations at the Company in connection with the Company repositioning its business; 

    ●
    Laboratory Services: the decrease of approximately 83% during the year ended December 31, 2024 compared to the same period in 2023 is primarily attributable to the discontinuance of Ares Genetics’ related products and services during the first quarter of 2024 due to the sale of the Ares Genetics assets to a strategic acquiror by its insolvency administrator in Austria; 

    ●
    Listing Sponsorship Service: the increase of 100% during the year ended December 31, 2024 compared to the same period in 2023 is due to the listing sponsorship and consulting services performed by CapForce in the fourth quarter of 2024, when CapForce commenced this new business line; and 

    ●
    Collaboration Revenue: the decrease of 100% during the year ended December 31, 2024 compared to the same period in 2023 is due to the Company no longer receiving revenues under the collaboration agreement with FIND as a result of the deconsolidation following Curetis’ insolvency filing in 2023. 

Operating expenses

    Years Ended December 31,

    2024

    2023

    Cost of products sold
     
    $
    31,636

    $
    3,084,075

    Cost of services

    1,575

    424,939

    Research and development

    48,820

    4,732,851

    General and administrative

    4,542,025

    8,081,664

    Sales and marketing

    172,238

    2,783,268

    Loss on deconsolidation of subsidiaries

    75,138

    12,979,061

    Impairment of right-of-use asset

    -

    849,243

    Impairment of property and equipment

    -

    1,231,874