Company: OPGN
Filing Date: 2025-08-21
Form Type: 10-K
Source: 0001829126-25-006628
Chunk: 552

Company: OPGEN INC
Filing Date: 2025-08-21
Form: 10-K
Item: Item 2
Chunk 552
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 research and development, general and administrative, and sales and marketing expenses decreased approximately 99%, 44%, and 94%, respectively, for the year ended December 31, 2024 compared to the same period in 2023. The decreases are primarily attributable to the Company no longer including expenses related to Curetis and Ares Genetics in the consolidated figures as a result of the deconsolidation following their insolvency filings in November 2023, and the scaling down of legacy operations at the Company in connection with the Company repositioning its business; 

    ●
    Loss on deconsolidation of subsidiaries: loss on deconsolidation of subsidiaries for the year ended December 31, 2024 decreased 99% when compared to the same period in 2023 as the deconsolidation of the Company’s Colombia and Denmark subsidiaries in 2024 was much less significant than the losses incurred by the Company associated with the insolvency filings of Curetis and Ares Genetics in November 2023; 

    ●
    Impairment of right-of-use asset: impairment of right-of-use asset for the year ended December 31, 2023 represents the impairment of the Company’s right-of-use lease asset at its Rockville, MD office; and 

    ●
    Impairment of property and equipment: impairment of property and equipment for the year ended December 31, 2023 represents the impairment of the Company’s property and equipment at its Rockville, MD office. 

Other income (expense)

    Years Ended December 31,

    2024

    2023

    Interest and other income
     
    $
    371,444

    $
    142,488

    Interest expense

    (7,555
    )

    (1,838,933
    )
  
    Gain on extinguishment of debt

    9,738,487

    -

    Gain on impairment adjustment

    2,079,575

    -

    Gain on settlement of compensation expenses

    570,785

    -

    Change in fair value of EIB loan guaranty

    (908,586
    )

    -

    Foreign currency transaction gains (losses)

    575

    (289,306
    )
  
    Change in fair value of derivative financial instruments

    -

    65,876

    Total other income (expense)
     
    $
    11,844,725