Welcome to our dedicated page for Opko Health news (Ticker: OPK), a resource for investors and traders seeking the latest updates and insights on Opko Health stock.
OPKO Health Inc. (NASDAQ: OPK) is a diversified healthcare company focused on establishing leading positions in large, rapidly growing markets. OPKO operates through two main segments: Diagnostics and Pharmaceuticals.
OPKO's Diagnostics segment includes BioReference Laboratories, the nation's third largest clinical laboratory. BioReference offers a comprehensive range of diagnostic services and features a core genetic testing business supported by a skilled 400-person sales and marketing team. Notable products include the 4Kscore® test for prostate cancer and the Claros® 1 in-office immunoassay platform.
The Pharmaceutical segment of OPKO showcases a diverse portfolio of products. Rayaldee, an FDA-approved treatment for secondary hyperparathyroidism in stage 3-4 chronic kidney disease patients with vitamin D insufficiency, was launched in November 2016. Other significant pharmaceutical developments include Varubitm for chemotherapy-induced nausea and vomiting, OPK88004 for type 2 diabetes and obesity, and OPK88003, a selective androgen receptor modulator for benign prostatic hyperplasia, both of which are in Phase 2 clinical trials.
OPKO has recently made headlines with strategic collaborations and technological advancements. BioReference Health, a subsidiary of OPKO, has entered a strategic alliance with SOPHiA GENETICS to incorporate MSK-ACCESS® liquid biopsy technology. This partnership aims to enhance BioReference's genomic analysis capabilities and offer state-of-the-art cancer testing across the U.S. Another collaboration with Prognos Health aims to merge genomic data with real-world data, facilitating precision medicine and improving patient outcomes.
Financially, OPKO continues to exhibit a strong performance with ongoing projects and strategic acquisitions. The acquisition of select assets from BioReference Health by Labcorp is set to expand OPKO's reach and capabilities, strengthening its market presence.
Headquartered in Miami, Florida, OPKO Health is committed to improving healthcare through innovation, scientific expertise, and strategic partnerships. For more detailed information about their products, services, and latest news, visit www.opko.com.
BioReference Health, one of the largest specialty laboratories in the U.S., announced it will offer the CINtec® PLUS Cytology test from Roche Diagnostics, the only FDA-approved dual-stain triage test for HPV-positive patients. The test is available for women aged 30-65 when cytology results are NILM and HR HPV tests are positive. By utilizing dual-stain biomarker technology, the CINtec PLUS Cytology test aims to improve disease detection and clinical outcomes, potentially reducing follow-up visits. The announcement underscores BioReference's commitment to enhancing cervical cancer screening and patient care.
OPKO Health, Inc. (Nasdaq: OPK) will participate in the 41st Annual J.P. Morgan Healthcare Conference from January 9-12, 2023, in San Francisco. The management will conduct one-on-one meetings and present on January 11 at 4:30 p.m. Pacific time. The presentation will be available via live webcast and later for replay on the OPKO Health website. As a multinational biopharmaceutical and diagnostics company, OPKO aims to lead in rapidly growing markets through innovative technologies and development capabilities.
OPKO Health reported a net loss of $86.1 million or $0.11 per share for Q3 2022, compared to a net income of $28.7 million or $0.04 per diluted share in Q3 2021. Total revenues were $179.7 million, down from $385.8 million, largely attributed to a significant decrease in COVID-19 testing volume at BioReference Laboratories. Notably, the company’s operating loss reached $87.8 million, influenced by increased costs linked to acquisitions and product development. However, OPKO anticipates higher royalty payments related to Pfizer’s NGENLA as it gains additional pricing approvals.
OPKO Health, Inc. (NASDAQ: OPK) will report its operating and financial results for the three and nine months ended September 30, 2022, on November 8, 2022. The announcement will include a business update alongside financial results and guidance, shared during a conference call at 4:30 p.m. Eastern time. Participants are encouraged to pre-register to access the call efficiently. OPKO aims to solidify its position in rapidly growing markets through its proprietary technologies and development expertise.
OPKO Health, Inc. (NASDAQ: OPK) announces the retirement of Jon R. Cohen, M.D., as Executive Chairman and CEO of BioReference Laboratories. He will serve as an advisor until December 2022 and as a consultant for nine additional months. Craig Allen, previously President and COO, is appointed Interim CEO. Cohen, recognized for leading BioReference during the COVID-19 pandemic and establishing Scarlet Health, leaves a legacy of growth and innovation. Allen brings over 25 years of lab industry experience, aiming for long-term profitable growth.
OPKO Health reports its Q2 2022 financial results with consolidated revenues of $309.9 million, down from $442.4 million year-over-year. The company experienced an operating loss of $10.7 million, contrasted with an operating income of $5.6 million in Q2 2021. Significant highlights include the acquisition of ModeX Therapeutics for $300 million in OPKO stock and $85 million in milestone payments from Pfizer for the launch of NGENLA. Loss per share stood at $0.14, compared to $0.03 in the previous year. Cash and equivalents were at $210.5 million.
OPKO Health (NASDAQ: OPK) will report its operating and financial results for Q2 2022 on August 4, 2022, after U.S. markets close. The company will hold a conference call at 4:30 p.m. Eastern Time to discuss these results and provide financial guidance. Investors are encouraged to pre-register for easier access to the call. A replay of the conference call will be available until August 11, 2022. OPKO is focused on establishing industry-leading positions in rapidly growing markets through its innovative biopharmaceutical and diagnostics expertise.
OPKO Health, Inc. (NASDAQ: OPK) will participate in the 2022 Jefferies Healthcare Conference from June 8-10 in New York City. Management's fireside chat is scheduled for June 9 at 8:00 a.m. Eastern time, and it will be webcast live, with a replay available on OPKO’s website. This event highlights OPKO's commitment to engaging with investors and showcasing its innovative biopharmaceutical and diagnostics initiatives.
OPKO Health, Inc. (NASDAQ: OPK) reported its financial results for Q1 2022, revealing consolidated revenues of $329.2 million, down from $545.2 million in Q1 2021. The company incurred a net loss of $55.4 million, or $0.08 per share, compared to a net income of $31.1 million in the previous year. Key business highlights include the acquisition of ModeX Therapeutics for $300 million in OPKO stock and the sale of GeneDx to Sema4, which provided $150 million in cash proceeds. Notably, OPKO expects to receive $85 million in milestone payments from Pfizer in Q2 2022.
OPKO Health, Inc. (NASDAQ: OPK) has acquired ModeX Therapeutics for $300 million in OPKO common stock, significantly enhancing its product pipeline. Notable appointments include Dr. Elias Zerhouni as President and Vice Chairman, Dr. Gary Nabel as Chief Innovation Officer, and Alexis Borisy as a Board member. ModeX specializes in innovative immune therapies for cancer and infectious diseases using multi-specific antibody technologies. This acquisition aims to leverage synergies in OPKO's diagnostics and therapeutics portfolio, potentially improving patient outcomes and accelerating product development.
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