Company: OPGN
Filing Date: 2025-10-01
Form Type: 10-Q
Source: 0001829126-25-007819
Chunk: 34

Company: OPGEN INC
Filing Date: 2025-10-01
Form: 10-Q
Item: Part I, Item 1
Chunk 34
---
     
    $
    -

    $
    168,149

We did not generate any revenue in the three months ended March 31, 2025, as we continued to wind down our legacy precision medicine business and reposition ourselves in the financial services and technology industry.

Operating expenses

    Three Months Ended March 31,

    2025

    2024

    (As Restated)

    Cost of products sold
     
    $
    -

    $
    73,236

    Cost of services

    -

    1,575

    Research and development

    -

    25,856

    General and administrative

    513,344

    1,684,151

    Sales and marketing

    9,502

    128,646

    Total operating expenses
     
    $
    522,846

    $
    1,913,464

Our total operating expenses for the three months ended March 31, 2025 decreased approximately 73% when compared to the same period in 2024. Operating expenses changed as follows:

    ●
    Cost of products sold: cost of products sold for the three months ended March 31, 2025 decreased 100% when compared to the same period in 2024. The decrease in cost of products sold aligns with the decrease in product sales in the first quarter of 2025, which is due to the Company scaling down its legacy operations and repositioning its business; 

    ●
    Cost of services: cost of services for the three months ended March 31, 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 quarter 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%, 70%, and 93%, respectively, for the three months ended March 31, 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. 

24

Other income (expense)

    Three Months Ended March 31,

    2025

    2024

    (As Restated)