secwatch.observer — SEC 8-K summary
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Issuer:     OPKO HEALTH, INC. (OPK)
CIK:        0000944809
Form:       8-K
Filed at:   2023-05-03T23:59:59+00:00
Accession:  0001437749-23-012324
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OPKO Health Q1 revenue down 28% YoY to $237.6M; net loss narrows to $0.02/share
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- Pharmaceuticals revenue up to $40.4M (vs $36.6M) driven by Rayaldee and IP transfers including $50M Merck upfront.
- Diagnostics revenue plunged to $132.4M from $286.6M due to lower COVID testing and GeneDx sale; operating loss of $40M.
- ModeX entered license deal with Merck for EBV vaccine MDX-2201; potential milestones up to $872.5M plus royalties.
- Net loss improved to $18.3M ($0.02/share) from $55.4M ($0.08/share) in Q1 2022; cash $110.8M not including $50M April payment.
- Rayaldee sales grew to $6.6M from $5.1M; NGENLA approved in 41 countries, sales underway in 17.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/944809/000143774923012324/0001437749-23-012324-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/944809/000143774923012324/opk20230425_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-012324

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer