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Jun 30, 2020
OPKO Health Q2 2020 Earnings Report
OPKO Health reported second quarter results with increased revenues and a return to profitability.
Key Takeaways
OPKO Health reported a strong second quarter, driven by increased COVID-19 testing volumes at BioReference Laboratories. The company achieved consolidated revenues of $301.2 million, a significant increase compared to $226.4 million in the same period last year. Net income for the quarter was $33.7 million, a substantial improvement from the net loss of $59.8 million in the prior year.
BioReference Laboratories processed approximately 2.2 million COVID-19 molecular tests.
RAYALDEE total prescriptions increased 45% compared to Q2 2019.
Positive somatrogon topline results reported from Japan pediatric Phase 3 efficacy and safety study.
The company anticipates submitting the somatrogon Biologics License Application (BLA) in the U.S. in the fall of 2020.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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