Company: OPGN
Filing Date: 2025-08-21
Form Type: 10-K
Source: 0001829126-25-006628
Chunk: 1174

Company: OPGEN INC
Filing Date: 2025-08-21
Form: 10-K
Item: Item 7
Chunk 1174
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 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

    Total operating expenses
     
    $
    4,871,432

    $
    34,166,975

23

The Company’s total operating expenses for the year ended December 31, 2024 decreased 86%, from $34.2 million to $4.9 million, when compared to the same period in 2023. This decrease is primarily attributable to:

    ●
    Cost of products sold: cost of products sold for the year ended December 31, 2024 decreased 99% when compared to the same period in 2023. The decrease in cost of products sold aligns with the decrease in the Company’s legacy, lower margin product sales business during 2024; 

    ●
    Cost of services: cost of services for the year ended December 31