Company: OPGN
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001829126-25-008771
Chunk: 38

Company: OPGEN INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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 its business; 

    ●
    Cost
        of services: cost of services for the six months ended June 30, 2025 decreased 100% when compared to the same period in 2024. The
        decrease in cost of services aligns with the decrease in laboratory services in the first half of 2025, which is due to the Company scaling
        down its legacy operations and repositioning its business; and 

    ●
    Research
        and development, general and administrative, and sales and marketing: research and development, general and administrative, and sales
        and marketing expenses decreased approximately 100%, 66%, and 92%, respectively, for the six months ended June 30, 2025 compared
        to the same period in 2024. The decreases are primarily attributable to the Company scaling down its legacy operations and repositioning
        its business. 

27

Other
income (expense)

    Six Months Ended
        June 30,

    2025

    2024

    Interest and other income
     
    $
    226,688

    $
    150,668

    Interest expense

    (4,861
    )

    (1,079
    )
  
    Gain on impairment adjustment

    -

    2,079,575

    Change in fair value of EIB loan guaranty

    -

    (225,386
    )
  
    Foreign currency transaction
        gains

    103

    465

    Total other income
     
    $
    221,930

    $
    2,004,243

Our
total other income for the six months ended June 30, 2025 consisted primarily of sublease income. Total other income for the six
months ended June 30, 2024 consisted primarily of a gain on impairment adjustment of $2.1 million in March 2024 following the
Company’s identification of a subtenant for its Rockville, Maryland office and sublease income partially offset by the change in
fair value of our EIB loan guaranty.

Liquidity
and Capital Resources

As
of June 30, 2025, we had cash and cash equivalents of $0.8 million compared to $1.3 million at December 31, 2024. Historically,
we have funded our operations primarily through external investor financing arrangements and strategic actions taken by us.

The
following financing transactions generating