STOCKS TELEGRAPH

Author: ST Staff

  • Nova LifeStyle, Inc. (NVFY) Stock Exhibits Significant Volatility as Latest Target of Meme Stock Phenomenon

    Nova LifeStyle, Inc. (NVFY) Stock Exhibits Significant Volatility as Latest Target of Meme Stock Phenomenon

    Nova LifeStyle, Inc. (NVFY) stock prices skyrocketed by a staggering 71.50% as of the market closing on July 8th, 2021, bringing the price per share to USD$6.50. After-hours trading saw the stock plummet by 23.08%, bringing it down to USD$5.00.

    NVFY Exhibition

    June 21st, 2021 saw the company announce the successful exhibition of a new design line at the High Point Market furniture trade show, which ran from June 5th, 2021 to June 9th, 2021. The event offered the company a chance to showcase their product line and engage with potential buyers from all over the globe. The company has been pushing its sales and marketing strategy through the pandemic, facilitating interactions with loyal current and prospective customers.

    Net Sales

    The first quarter of 2021, ended March 31st, 2021, reported net sales in the amount of USD$3.3 million, up 51% from the USD$2.2 million reported for the same time period over the prior year. Net loss from continuing operations for the quarter came out to USD$763,537, down from the USD$1.01 million in Q1 2020.

    Effects of the Pandemic

    With the disturbances stemming from the onset of the coronavirus pandemic, the company strove to ensure the return of business operations to pre-pandemic levels. While the effects of the pandemic are still felt, NVFY’s sales growth is reflective of its strength and commitment in light of the company’s various collaborations.

    Gross Profit Margins

    The success of the company’s strategy to sell higher margin products is indicated by the increase of gross profit margins. While the first quarter of 2020 reported 35%, Q1 2021 saw the company report gross profit margins of 41%. NVFY plans to continue focusing on its sales channels, facilitating the delivery of a line of differentiated and high quality products.

    Meme Stock Phenomenon

    Despite these developments, the recent activity seen by the company’s stock price does not seem justified. In the absence of any significant recent news or changes in fundamentals, it seems likely that NVFY has found itself to be the newest target of the meme stock phenomenon. Retail investors target underdog companies to pump in a coordinated short squeeze, resulting in highly volatile stock activity.

    Future Outlook for NVFY

    Armed with the fortuitous surge in equity value owing primarily to the meme stock phenomenon, current and potential investors are hopeful that the company will leverage the additional resources at its disposal to facilitate more organic growth in the long run. The company is keen to maintain the trajectory of its growth by justifying natural investments in their business model.

  • PubMatic, Inc. (PUBM) Stock Rising as Collaboration with IRIS.TV Continues to Develop

    PubMatic, Inc. (PUBM) Stock Rising as Collaboration with IRIS.TV Continues to Develop

    PubMatic, Inc. (PUBM) stock prices were up by 4.02% as of the market closing on July 8th, 2021, bringing the price per share up to USD$34.91 at the end of the trading day. After-hours trading saw the stuck surge by 10.25%, bringing it up to USD$38.49.

    Third Party Cookies

    The company’s equity value surged in June after Google made an announcement in regard to third-party cookies, which are online identity trackers used in targeted advertising. Google announced it was getting rid of cookies and ad-tech stock across the board suffered. June 24th 2021, however, saw Google report that it would keep cookies through to 2023. This report grants ad-tech companies like PUBM more time to find an alternative to cookies.

    Circumventing Disaster

    While cookies are more important for demand-side platforms, such as brands or ad agencies, PUBM partners with content publishers as a sell-side ad-tech company. The third-party cookie situation is reported as a risk in the company’s filings with the Securities and Exchange Commission.

    Ahead of the Curve

    Nevertheless, the company pointed out that the majority of its revenue can already be generated with alternatives to third-party cookies in its more recent quarterly conference call, going as far as to suggest the alternatives may even be better than third party cookies. While cookies are anonymous identifies, the company is keen to use alternative identifiers that provide greater addressability, facilitating an environment to drive better utilization of its infrastructure.

    Partnership with IRIS.TV

    June 29th 2021, announced its global partnership with IRIS.TV, aimed to facilitate buyers’ accessibility to contextually targeted connected TV and video inventory in efficient, biddable environments. This move provides media buyers with access to leading video data targeting tools enabled by IRIS.TV, which will assist targeted advertising across PUBM’s brand-safe cross-screen programmatic inventory.

    Scope of Collaboration

    Digital video and CTV ad spending has steadily increased, establishing the necessity of brand safety and verification tools to protect brand equity and combat ad fraud. Brands are able to better plan, activate, and measure CTV and video advertising campaigns with data-driven, video-level targeting, this ensuring brand safety is not compromised. Furthermore, post-campaign verification ensures maximum possible returns on investment, while providing insights that help prevent ad fraud.

    Future Outlook for PUBM

    Already poised to circumvent the fallout from the retiring of third party cookies by Google, PUBM is keen to continue extrapolating its trajectory of growth with its expansive partnership with IRIS.TV. Investors are hopeful that the combined resources from the partnership will result in promising returns on shareholders’ investments over the long term.

  • What Caused IBIO Stock To Rise After Hours?

    What Caused IBIO Stock To Rise After Hours?

    At last check, shares of biotech innovator and biologics contract manufacturing organization iBio Inc. (IBIO) were up 7.19% to $1.49 in after-hours trading. Thursday’s closing price for IBIO stock was $1.39, up 4.51% from the previous day’s close. IBIO stock volume on the day was reduced to 6.36 million shares from 12.29 million shares in the past 50 days. Three new antibody programs support the company’s oncology drug discovery pipeline, driving IBIO stock higher.

    What program has IBIO started?

    iBio is a global leader in plant-based biologic production. In iBio’s FastPharming System, automated hydroponics, and novel glycosylation technologies are combined to produce monoclonal antibodies, vaccines, bioinks, and other proteins. iBio is developing biopharmaceuticals that treat cancers, as well as fibrotic and infectious diseases. iBio CDMO LLC, a subsidiary of the Company, provides Contract Development and Manufacturing Services to the FastPharming business, as well as Glycaneering services related to recombinant protein design.

    Announcing the addition of three anticancer targets to its pipeline of potential therapeutics, iBio, Inc. has taken another significant step towards harnessing the speed and throughput of its proprietary, plant-based FastPharming Protein Expression System.

    • With this enhancement, IBIO expands on its new drug discovery capabilities announced just a few weeks ago.
    • By partnering with best-in-class technology providers, IBIO intends to create the FastPharming System that will reduce the time and cost to move from initial concept to clinic, which will be part of its efforts to redefine the drug development paradigm.
    • FairJourney Biologics SA (“FairJourney”), a leader in antibody optimization, has agreed to provide research services to IBIO.
    • The deal provides IBIO with access to a proprietary antibody library and novel display technologies.
    • By combining its ‘speed-to-clinic’ advantages along with Glycaneering Technologies and FairJourney’s antibody optimization technologies, IBIO may be able to rapidly develop differentiated cancer therapeutic antibodies that will be more effective against cancer cells.
    • Several undisclosed IBIO collaborations are advancing rapidly towards the clinic as a result of its antibody discovery expertise in oncology.
    • The glycosylation techniques IBIO uses to enhance human anti-cancer antibody development will enable IBIO to change the bioprocess paradigm.

    What has IBIO accomplished?

    To complement the company’s previously offered contract development and manufacturing services, IBIO is adding its own in-house drug discovery capabilities. As a result of its plant-based FastPharming System, IBIO continues to reduce the lag times and costs associated with pharmaceutical development, and at the same time, to help develop its own biopharmaceuticals to address unmet medical needs in human health and veterinary medicine.

  • SMART Global Holdings, Inc. (SGH) Stock Trend Lower Despite Continuing to Surpass Earnings Estimates

    SMART Global Holdings, Inc. (SGH) Stock Trend Lower Despite Continuing to Surpass Earnings Estimates

    SMART Global Holdings, Inc. (SGH) stock prices were down by 4.84% as of the market closing on July 8th, 2021, bringing the price per share down to USD$53.31. After hours trading saw the stock dip by 4.80%, bringing it down to USD$50.75.

    Public Offering of Shares

    July 8th, 2021 saw the company announce the launch of an underwritten public offering, wherein 3 million of its ordinary shares will be sold by certain selling shareholders in association with Silver Lake. The company itself is not offering any of its shares up for sale and, therefore, will be collecting proceeds generated from the sale of shares by the selling shareholders.

    GAAP Income

    The third quarter of fiscal 2021 saw SGH report USD$437.7 million in GAAP net sales, up 56% from the same time period of the previous year. The quarter saw the company report a GAAP net loss of USD$7.2 million, representing a net loss of USD$0.30 per diluted share. This is compared to the USD$0.8 million GAAP net income reported for the third quarter of fiscal 2020, representing a GAAP net income of USD$0.03 per diluted share.

    Year-over-year Growth

    Non-GAAP net income for the quarter came in at USD$35.5 million, a significant 107.6% increase from the prior year quarter. This representing a non-GAAP net income of USD$1.39 per diluted share, which exhibited a 98.6% year-over-year increase. Adjusted EBITDA was up 102.3% from Q3 of fiscal 2020, reporting in at USD$51.4 million for the third quarter of fiscal 2021.

    Expansion of Product Portfolio

    The company announced the launch of its newest additions to its product portfolio on June 15th 2021, showcasing the T5EN PCIe/NVMe M.2 2280 and U.2 flash drives. Both products are designed to be suited for applications requiring particularly durable and rugged technology, while securing memory storage to meet the rigorous demands of aerospace, defense, and industrial sectors.The company sources all of its components very selectively, testing them over the course of engineering development phases to ensure the highest standard of performance and reliability. The design process also includes higher margins for the routing of signal, thicker PCBs, as well as more durable housing for the devices.

    Future Outlook for SGH

    Armed with the continued proliferation of its newest technology in the burgeoning global market, SGH is poised to continue its trajectory of success. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • Here is whyToughBuilt Industries Inc. (TBLT) stock surged in the after-hours on Thursday?

    Here is whyToughBuilt Industries Inc. (TBLT) stock surged in the after-hours on Thursday?

    ToughBuilt Industries Inc. (TBLT) shares surged 41.59% in after-hours on Thursday, July 8, 2021, and closed the trading at $1.02 per share. Earlier in the morning session, TBLT’s stock lost 1.52% to close Thursday’s session at $0.72 per share. TBLT shares have fallen 5.95% over the last 12 months, and they have moved down 13.40% in the past week. Over the past three months, the stock has lost 25.46%, while over the past six months, it has declined 19.81%.

    Exceptional sales on Amazon

    On July 08, 2021, ToughBuilt Industries, Inc announced that gross sales through Amazon.com increased 118% to approximately $5.48 million for the first half of 2021, compared to approximately $2.51 million in the first half of 2020.

    The Chief Executive Officer of ToughBuilt, Michael Panosian commented that the significant sale increase in Q1 2021 reflects the increasing strength of our brand across all product lines with professional and DIY builders throughout North America. He further said that the company’s online presence expands into Canada and Mexico, and US sales continue to increase and the company is increasing its geographic footprint and launching new SKUs to capitalize on the strong demand for our innovative designs and features.

    Recent financial results

    On May 17, 2021, ToughBuilt Industries, Inc reported financial results for the first quarter ended March 31, 2021.

    Q1 2021 financial highlights

    ToughBuilt Industries reported revenue of $12.3 million inQ1 2021, compared to $3.9 million in the first quarter of 2020.

    GAAP gross profit was $3.5 million in Q1 2021, compared to $1.5 million in the first quarter of 2020.

    GAAP gross profit margins were 28.2% in Q1 2021, compared to 38.9% in Q1 2020.

    GAAP operating expense was $9.4 million in Q1 2021, compared to $5.0 million in the first quarter of 2020.

    The company reported a net loss of $6.1 million, or $0.09 per share in Q1 2021, as compared to a net loss of $5.0 million, or $0.43 per share in the first quarter of 2020.

    As of March 31, 2021, the company had cash and cash equivalents of $32.5 million.

    FY 2020 financial results announcement

    Let’s have a brief look at TBLT financial results for the fiscal year ended December 31, 2020, which were announced on March 26, 2021.

    Financial Highlights for 2020

    • TBLT reported revenues of $39.4 million for the year 2020, compared to $19 million for the previous year.
    • It suffered a net loss of $18.6 million, or $0.68 per share for the reported year, compared with $6.4 million, or $2.08 per share in fiscal 2019.
    • TBLT was managed to increased its gross profit to $14.7 million, compared with $5.6 million in 2019. 

    Conclusion

    The TBLT stock surged in the after-hours after the company announced its top-notch performance on Amazon.com and we can expect it to continue its momentum on Friday as well.

  • Here is why Aehr Test Systems (AEHR) stock soared in the after-hours on Thursday?

    Here is why Aehr Test Systems (AEHR) stock soared in the after-hours on Thursday?

    Aehr Test Systems (AEHR) shares soared 15.61% in after-hours on Thursday, July 8, 2021, and closed the trading at $2.74 per share. Earlier in the morning session, AEHR’s stock lost 2.47% to close Thursday’s normal trading session at $2.37 per share. AEHR shares have risen 22.16% over the last 12 months, and they have moved down 14.13% in the past week. Over the past three months, the stock has lost 10.90%, while over the past six months, it has declined 4.05%.

    Let’s discuss AEHR recent news and developments.

    Upcoming financial result announcement

    Aehr Test Systems will announce financial results for its fiscal 2021 fourth quarter and full-year ended May 31, 2021, on Thursday, July 15, 2021, following the close of the market. The Company will host a conference call and webcast at 5:00 p.m. Eastern time to discuss the results.

    New recent expanded Order for FOX-XP™ System

    On July 08, 2021, Aehr Test Systems received a $2.9 million follow-on order for a FOX-XP™ Wafer Level Test and Burn-in system and multiple WaferPak™ Contactors from its lead silicon carbide customer to provide additional capacity for production test and burn-in of the customer’s line of silicon carbide devices. This system is expected to ship during Aehr’s current fiscal first quarter ending August 31, 2021.

    New order for WaferPak™ Contactors

    On June 29, 2021, Aehr Test Systems received orders totalling $1.4 million for WaferPak™ Contactors from its lead silicon carbide customer for production test and burn-in of the customer’s line of silicon carbide devices. The orders include additional WaferPaks to meet the production capacity of previously designed and qualified WaferPaks as well as another new silicon carbide design win.

    Participation in the recent investor conferences

    Aehr Test Systems recently participated in the 13th Annual CEO Summit, which held virtually on June 15, 2021. The company was presented by President and CEO Gayn Erickson and CFO Ken Spink.

    The company also took part in the 18th Annual Craig-Hallum Institutional Investor Virtual Conference which held on Wednesday, June 2, 2021. Aehr Test President and CEO Gayn Erickson and CFO Ken Spink had virtual meetings with investors throughout the day.

    Follow-on Order for FOX-XP™ System 

    On June 01, 2021, Aehr Test Systems said that it received and shipped a follow-on order totalling more than $2.3 million from its lead silicon carbide customer for a FOX-XP Wafer Level Test and Burn-in system for high volume production test and burn-in of the customer’s line of silicon carbide devices. This system shipped during Aehr’s fiscal fourth quarter that ended May 31, 2021.

    New board member

    Aehr Test Systems appointed FaribaDanesh to its board of directors, effective May 10, 2021.

    Conclusion

    In our opinion, the recent FOX-XP™ System order was the reason behind its turnaround in the after-hours on Thursday and we are pretty confident that AEHR stock will close the week by continuing its surge on Friday as well.

  • Aerpio Pharmaceuticals, Inc. (ARPO) Stock Surges After Being Massively Upgraded by Analysts

    Aerpio Pharmaceuticals, Inc. (ARPO) Stock Surges After Being Massively Upgraded by Analysts

    Aerpio Pharmaceuticals, Inc. (ARPO) stock prices skyrocketed by 69.0059% some time after market trading commenced on July 8th, 2021, bringing the price per share up to USD$2.89 earlier in the trading day.

    Upgrading of ARPO Stock

    Analyst Robert Burns of H.C Wainwright upgraded ARPO from a Neutral rating to a Buy, with the company’s stock being given a USD$22 price target. Burns cited the transformative nature of the merger as being the driving force behind the upgrading of the company. Furthermore, the merger is expected to facilitate the transition to a self-sustaining, commercial-stage enterprise, with a distinguished flagship product that boasts applicability across a myriad of oncology indications.

    Merger with Aadi Bioscience

    May 16th, 2021 saw the company announce its strategic merger with Aadi Bioscience, Inc. and Aspen Merger Subsidiary, Inc. The agreement will see Aadi surviving the merger as a wholly-owned subsidiary of ARPO, with both companies’ Board of Directors having given their approval. Following the merger, ARPO will continue as Aadi Bioscience and will focus on the development of FYARRO.

    PIPE Financing

    In connection to the merger, ARPO entered into subscription agreements to raise up to USD$155 million in Private Investment in Public Equity (PIPE) financing. The PIPE will see shares of the company’s common stock and pre-funded warrants being used to purchase Aerpio’s common stock. This move is expected to be executed at the same time as the closing of the merger, as per customary closing conditions and the closing of the merger itself.

    Solid Liquidity Position

    March 31st, 2021 saw the company report USD$39 million in cash and cash equivalents, down from the USD$42.6 million reported as of December 31st, 2020. ARPO reported a total of almost 47.4 million common shares outstanding as of March 31st, 2021, with weighted average common shares, both basic and diluted, outstanding totaling 47.3 million as of the end of the quarter.

    R&D Expenses

    The first quarter of fiscal 2021, ended March 31st, 2021, saw ARPO report USD$2.2 million in research and development costs, up 21.8% from the USD$1.8 million reported for the three-month period ended March 31st, 2020. This year-over-year difference was largely driven by increased expenses associated with the company’s clinical programs.

    Net Loss Reports

    Net loss attributable to common stockholders was USD$4.4 million for the quarter ended March 31st 2021, representing a net loss of USD$0.09 per common share. This is comparable to the USD$3.9 million in net loss reported for Q1 2020, which came out to a net loss of USD$0.10 per common share.

    Future Outlook for ARPO

    Armed with the massive scope in light of its recent merger, ARPO is poised to capitalize on the expanded opportunities afforded to it. The company is keen to leverage its combined resources to usher in sustained and organic growth over the long term. With a target price of USD$22.00, investors are snowballing the growth as it climbs higher and higher towards that goal.

  • Why Is Grid Dynamics (GDYN) Stock Falling In Early Trades Today?

    Why Is Grid Dynamics (GDYN) Stock Falling In Early Trades Today?

    Shares of leading enterprise-level digital transformation company, Grid Dynamics Holdings Inc. (GDYN) were down -4.60% to $19.48 just minutes after the opening bell in today’s regular session. As of Thursday’s premarket, GDYN shares have fallen -13.8% to $17.6025. The Grid Dynamics stock finished the last session at $20.42, down just -0.10%. Trading volumes for Grid Dynamics stocks came in at 0.67 million shares, which is higher than the average daily volumes of 0.39 million shares over the last 50 days.

    The GDYN stock price has gained 16.35% over the past five days which increases to 30.15% over the last month. So far this year, the GDYN stock price has gained 62.06 percent and increased 41.41% over the last three months. The price to cash flow ratio of the GDYN stock is 106.42, and the price to sales ratio is 8.57.

    GDYN stock is fluctuating in the premarket session as the company announced the date of release of its quarterly results yesterday.

    When will GDYN release its results?

    Global technology services company Grid Dynamics is accelerating growth and enhancing the competitive advantage of Fortune 1000 companies through digital-native technologies. A digital transformation consultancy and implementation company, GDYN offers services such as big data analytics, searching, artificial intelligence, cloud migration, and application modernization.

    With technology accelerators, an agile delivery culture, and a global engineering team, GDYN achieves high speed-to-market, quality, and efficiency. GDYN was founded in Silicon Valley in 2006, with offices in the United States, United Kingdom, Netherlands, Mexico, and Central & Eastern Europe.

    On Thursday, August 5, 2021, Grid Dynamics will host a conference call beginning at 4:30 p.m. ET.

    • GDYN will discuss its second quarter 2021 financial results on the conference call.
    • GDYN will also issue a news release containing these results prior to the conference call.
    • The GDYN will make access to the call as easy as possible for interested parties and investors.
    • GDYN will webcast the conference call through its Investor Relations section on its website.
    • Individuals interested in accessing the call can also join dialing +1(855)327-6837 or +1(631)891-4304 (outside of the United States).
    • In addition to the live broadcast, GDYN’s website will offer a replay within an hour of the call.
    • Replays will start at 7:30 pm ET on August 5, 2021, and will run until August 19, 2021, 11:59 pm ET on GDYN site.

    A new member added to GDYN team:

    Grid Dynamics (GDYN) this week announced the addition of Rajeev Sharma to its executive team as its Chief Technology Officer. Under Rajeev’s leadership, GDYN’s technical strategy will be defined, its technical solutions portfolio will expand, and it will implement the digital transformation that has become synonymous with the brand.

  • What Is Hurting VVOS Stock In Premarket Session?

    What Is Hurting VVOS Stock In Premarket Session?

    Pre-market trading showed shares of Vivos Therapeutics Inc. (VVOS) down by 10.58% at $4.65. Vivos stock closed the last session at $5.20, increasing 23.52% or $0.99. VVOS stock fluctuated between $4.42 and $5.45 during trading. During the day, 7.33 million shares of VVOS stock exchanged hands, exceeding the company’s normal 50-day daily volume of 0.15 million and exceeding its regular volume of 0.23 million for the year so far.

    In the past week, VVOS stock has moved up 7.66% while it has lost -15.72% in the past six months. VVOS stock has decreased -43.54% over the last three months, while so far this year it has returned -12.01%. In the last session, VVOS stock gained value on encouraging patient outcome news, but it seems profit taking has hurt the stock in the premarket session today.

    Why did the stock price of VVOS rise?

    Medical Technology Company Vivos develops and commercializes innovative diagnostics and treatment options for adult patients suffering from sleep disorders such as obstructive sleep apnea (OSA). In the Vivos treatment system for mild-to-moderate OSA, customized oral appliances and protocols are employed.

    According to VVOS, the Vivos System oral appliance technology is the first non-invasive, non-pharmacological, non-surgical, and cost-effective non-surgical treatment option for mild-to-moderate OSA. Adult and child orthodontic appliances are also available through VVOS. Over 1,200 dentists have successfully used VVOS’ oral appliances with more than 17,000 patients worldwide.

    According to Vivos, new data is available from an independent research study regarding its proprietary Vivos treatment for addressing dental tissue anomalies and dentofacial malformations which are associated with OSA and other debilitating conditions.

    Key findings of the data include:

    • The vast majority of OSA patients surveyed (97 percent) reported that the Vivos treatment had achieved their desired outcome.
    • More than half or 63% of respondents surveyed said their dentist provides them with the best advice on finding a lasting solution to OSA.
    • About one-third or 29% of patients surveyed reported searching for non-surgical treatment options for OSA.

    What VVOS offers?

    Patients are frequently seeking a significant reduction in OSA and related symptoms with Vivos (VVOS), as CPAP satisfaction and compliance rates remain low. The VVOS noted that some studies show CPAP usage rates of 30 to 60 percent and that OSA may become chronic, life-threatening comorbidities if untreated. Vivos treatment, on the other hand, typically takes 12 to 24 months to complete, after which patients no longer require ongoing treatment.

  • OPGN Stock Is Falling This Morning, On What Basis?

    OPGN Stock Is Falling This Morning, On What Basis?

    On the last check Thursday, OpGen Inc. (OPGN) plunged -4.39% at $2.18 in pre-market trading hours. OpGen’s stock lost -0.87% to close at $2.28 in the last trading session. The price range for the OPGN stock was $2.24 to $2.32. Over the past 100 days, it has traded 6.42 million shares daily on average, which was higher than the OPGN stock volume of 1.34 million on the day. In the last five days, OPGN’s shares fell by -3.39%, while they gained 1.79% in the last month. OPGN stock fell after announcing partial adjournment of the annual meeting.

    The OPGN meeting will take place when?

    To combat infectious diseases, OpGen combines molecular diagnostics with bioinformatics. As a developer and manufacturer of molecular microbiology solutions, OPGN develops solutions in conjunction with subsidiaries, Curetis GmbH and Ares Genetics GmbH. With OPGN’s solutions, clinicians are provided with more rapid and actionable information regarding potentially life-threatening infections, which can lead to better patient outcomes and a decrease in the spread of infections due to multidrug-resistant microorganisms. Unyvero, Acuitas’ AMR Gene Panel, and Acuitas Lighthouse, are part of OPGN’s product offering, as is the ARES Technology Platform, which uses NGS and AI to predict antibiotic response.

    On July 7, 2021, OpGen resumed its partially adjourned 2021 annual stockholders meeting.

    • In its Definitive Proxy Statement dated April 26, 2021, OPGN’s annual meeting was delayed solely due to Proposal 2.
    • The proxy statement was related to an increase in the number of shares of common stock authorized by OPGN.
    • To provide its stockholders with additional time to vote on Proposal 2, OPGN adjourned the Annual Meeting regarding such proposal.
    • Proposal 2 will now be discussed at the Annual Meeting at 10:00 am Eastern time on August 5, 2021.
    • OPGN’s offices at 9717 Key West Ave, Suite 100, Rockville, MD 20850 will continue to host the Annual Meeting.
    • At OPGN’s Annual Meeting, April 5, 2021 will remain the record date for determining who can vote.
    • The recent feedback and dialogue with many stockholders, and the number of stockholders who have already voted in favor of this important proposal, are encouraging to OPGN.
    • The importance of this proposal for the future success of the OPGN cannot be overstated.
    • This proposal is thus unanimously recommended be approved by the OPGN Board.

    Why the proposal is important for OPGN?

    With its strong cash position of $39.4 million at the end of the second quarter of 2021, these additional authorized shares will provide OpGen (OPGN) with the additional flexibility to seek future funding in order to continue expanding, strategically managing and possibly helping to reduce its long-term debt, and raising additional capital when needed. Management and OPGN’s board of directors have determined that, since this proposal requires an affirmative vote of at least 66.67% of all shares outstanding, alternate options must be explored simultaneously to fund the Company’s growth and development.