OPKO Health, Inc. (OPK), a biopharmaceutical and diagnostics company, will present at the 43rd Annual J.P. Morgan Healthcare Conference on Wednesday, January 15, 2025, at 3:00 p.m. PT.
The financial results for the third quarter ended September 30, 2024, were reported in November.
For the third quarter of 2024, OPKO reported net income of $24.9 million or $0.03 per share compared to a net loss of $84.5 million or $0.11 in 2023.
Total revenues for the third quarter of 2024 were $173.6 million compared with $178.6 million for the comparable period of 2023.
Operating income for the third quarter of 2024 was $14.2 million compared with operating loss of $64.4 million for the 2023 quarter. Additionally, OPKO announced a share repurchase program, enabling open-market purchases, block trades, and private transactions under applicable securities laws.
The company is also advancing its long-acting oxyntomodulin analog, OPK-88006, with promising results for once-weekly subcutaneous administration.
In collaboration with Entera, OPKO is developing the first oral dual-agonist GLP-1/glucagon peptide, which has shown positive in vivo results in rodent and pig models, demonstrating favorable pharmacokinetics and bioavailability for treating obesity and metabolic disorders.
As of September 30, 2024, OPKO had cash and cash equivalents totaling $406.4 million.
OPK closed Wednesday's (Jan. 08, 2025) trading at $1.48, down 1.99%. In after-hours trading, the stock was down 0.68% at $1.47
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