OPKO reports Q2 2023 net loss of $19.6M; receives $90M milestone from Pfizer for NGENLA approval

OPKO HEALTH, INC.

Consolidated revenue $265.4M, down from $309.9M YoY; operating income $7.0M vs loss of $10.7M.
Pharma segment revenue rose to $43.5M; $94.9M IP transfer revenue included $90M NGENLA milestone.
Diagnostics revenue fell to $127.0M from $186.8M due to lower COVID-19 testing volume and reimbursement.
Cash and equivalents $108.1M, excluding the $90M milestone payment expected in August 2023.
NGENLA approved in 44 markets; profit sharing with Pfizer begins from August 2023.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

OPKO HEALTH, INC. reported the quarter ended June 30, 2023 results: revenue $265.4 million, net income $19.6 million, or $0.03 per share, EPS $0.03 per share.

Period: the quarter ended June 30, 2023
Revenue: $265.4 million
Net income: $19.6 million, or $0.03 per share
EPS: $0.03 per share
Result: reported results

Exact text from the filing

BioReference continues to implement cost-reduction initiatives as it works toward profitability. ● Consolidated: Consolidated total revenues for the second quarter of 2023 were $265.4 million compared with $309.9 million for the comparable period of 2022. Operating income for the second quarter of 2023 was $7.0 million compared with an operating loss of $10.7 million

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Source: SEC EDGAR

accession 0001437749-23-021927

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