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Jun 30, 2021
OPKO Health Q2 2021 Earnings Report
OPKO Health's financial performance decreased in the second quarter of 2021 due to increased costs and expenses, despite revenue growth.
Key Takeaways
OPKO Health reported consolidated total revenues of $442.4 million for Q2 2021, compared to $301.2 million for the comparable period in 2020. However, the company experienced a net loss of $16.2 million, or $0.03 per share, compared to net income of $33.7 million, or $0.05 per diluted share, for the same period in 2020. The decrease in profitability was primarily due to increased costs and expenses.
BioReference Laboratories test volume increased 32% compared with the second quarter of 2020, processing approximately 2.8 million COVID-19 PCR tests.
OPKO executed an agreement with Nicoya Therapeutics for the development and commercialization of RAYALDEE® in Greater China, receiving an upfront payment of $5 million.
OPKO executed an exclusive worldwide agreement with CAMP4 Therapeutics Corporation for the development, manufacture and commercialization of therapeutics utilizing the AntagoNAT technology.
OPKO sold its sterile fill-and-finish manufacturing facility in Ireland to Horizon Therapeutics plc for $65 million.
Forward Guidance
OPKO's senior management will provide a business update, discuss second quarter financial results and answer questions during a conference call and live audio webcast beginning at 4:30 p.m. Eastern time today, July 29, 2021.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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