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Jun 30, 2023
OPKO Health Q2 2023 Earnings Report
OPKO Health's financial performance was impacted by lower COVID-19 testing volume, offset by revenue from pharmaceuticals, and the FDA approval of NGENLA.
Key Takeaways
OPKO Health reported a decrease in consolidated total revenues to $265.4 million compared to $309.9 million in the same period last year. The company experienced an operating income of $7.0 million, a significant improvement from the operating loss of $10.7 million in the previous year. Net loss was $19.6 million, or $0.03 per share, compared to a net loss of $101.7 million, or $0.14 per share, for the 2022 quarter.
NGENLA received FDA approval for pediatric growth hormone deficiency, triggering a $90 million milestone payment from Pfizer.
NGENLA has been approved in 44 markets, with sales underway in over 18 countries.
ModeX Therapeutics advanced its antiviral and immune-oncology product pipeline, with a Phase 1 clinical trial for certain cancers anticipated next year.
BioReference Health continued on its path to profitability with cost reductions, improved operational efficiencies and enhanced productivity.
Forward Guidance
OPKO's senior management will provide a business update, discuss second quarter financial results, provide financial guidance and answer questions during a conference call and audio webcast today beginning at 4:30 p.m. Eastern time.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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