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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Opko Health Inc | NASDAQ:OPK | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.02 | -1.54% | 1.28 | 1.27 | 2.25 | 1.35 | 1.29 | 1.32 | 4,487,673 | 05:00:10 |
Business Highlights
Fourth Quarter Financial Results
CONFERENCE CALL & WEBCAST INFORMATION
OPKO’s senior management will provide a business update, discuss fourth quarter financial results and answer questions during a conference call and live audio webcast at 4:30 p.m. Eastern time today, February 18, 2021. Participants are requested to pre-register for the conference call using the link here, or dialing (888) 869-1189 or (706) 643-5902 and using conference ID 8597848. Upon registering, participants will receive dial-in numbers, an event passcode and a unique registrant ID to gain immediate access to the call and bypass the live operator. Participants may pre-register at any time, including up to and after the start of the call.
To access the live call via webcast, please click on the link OPKO 4Q20 Results Conference Call. Individual investors and investment community professionals who do not plan to ask a question during the call’s Q&A session are encouraged to listen to the call via the webcast.
For those unable to listen to the live conference call, a replay can be accessed for a period of time on OPKO’s website at OPKO 4Q20 Results Conference Call. A telephone replay will be available beginning approximately two hours after the completion of the conference call. To access the replay, please dial (855) 859-2056 or (404) 537-3406, and use conference ID 8597848.
About OPKO Health
OPKO is a multinational biopharmaceutical and diagnostics company that seeks to establish industry-leading positions in large, rapidly growing markets by leveraging its discovery, development, and commercialization expertise and novel and proprietary technologies. For more information, visit www.opko.com.
Cautionary Statement Regarding Forward Looking Statements
This press release contains "forward-looking statements," as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning, including statements regarding expected financial performance and expectations regarding the market for and sales of our products, expectations about COVID-19 testing, the demand for testing, our capacity for testing, the impact of COVID-19 on all of our businesses, positively and negatively, our ability to expand our capacity should there be additional demand, the availability of resources, including labor, equipment and supplies, to meet demand for testing and the potential impact on us should these resources be constrained, our product development efforts and the expected benefits of our products, whether our products in development will be commercialized, the possibility of further analyses of existing clinical data, the risk that clinical trial data are subject to differing interpretations and assessments by regulatory authorities, whether regulatory authorities will be satisfied with the design of and results from our clinical studies, whether RAYALDEE prescriptions will increase, our ability to market and sell any of our products in development, GeneDx’s test offerings and the effectiveness and utility of its ataxias tests, BioReference's Scarlet Health mobile service, the availability of and demand for the service, whether the service and the integrated platform will function or perform as designed, the role and value of the service to patients and healthcare providers and whether the demand for at home health care will continue or increase as anticipated, as well as other non-historical statements about our expectations, beliefs or intentions regarding our business, technologies and products, financial condition, strategies or prospects. Many factors could cause our actual activities or results to differ materially from the activities and results anticipated in forward-looking statements. These factors include those described in our Annual Reports on Form 10-K filed and to be filed with the Securities and Exchange Commission and under the heading “Risk Factors” in our other filings with the Securities and Exchange Commission, as well as the ongoing effects of the COVID-19 pandemic, the continuation and success of our relationship with Pfizer, Vifor and our other partners, liquidity issues and the risks inherent in funding, developing and obtaining regulatory approvals of new, commercially-viable and competitive products and treatments, that earlier clinical results of effectiveness and safety may not be reproducible or indicative of future results, that somatrogon, RAYALDEE, and/or any of our compounds or diagnostic products under development may fail, may not achieve the expected results or effectiveness and may not generate data that would support the approval or marketing of products for the indications proposed or for other indications, that currently available over-the-counter and prescription products, as well as products under development by others, may prove to be as or more effective than our products for the indications being studied. In addition, forward-looking statements may also be adversely affected by general market factors, competitive product development, product availability, federal and state regulations and legislation, the regulatory process for new products and indications, manufacturing issues that may arise, patent positions and litigation, among other factors. The forward-looking statements contained in this press release speak only as of the date the statements were made, and we do not undertake any obligation to update forward-looking statements. We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA.
Contacts:
LHA Investor RelationsYvonne Briggs, 310-691-7100ybriggs@lhai.comorBruce Voss, 310-691-7100 bvoss@lhai.com
OPKO Health, Inc. and SubsidiariesCondensed Consolidated Balance Sheets(in millions)Unaudited
As of | |||||||
December 31, 2020 | December 31, 2019 | ||||||
Assets: | |||||||
Cash, cash equivalents and marketable securities | $ | 72.2 | $ | 85.5 | |||
Other current assets | 451.0 | 238.5 | |||||
Total Current Assets | 523.2 | 324.0 | |||||
In-process Research and Development and Goodwill | 1,270.8 | 1,262.1 | |||||
Other assets | 679.1 | 723.2 | |||||
Total Assets | $ | 2,473.1 | $ | 2,309.3 | |||
Liabilities and Equity: | |||||||
Current liabilities | $ | 375.5 | $ | 249.1 | |||
Convertible Notes | 222.0 | 211.2 | |||||
Deferred tax liabilities, net | 137.2 | 118.7 | |||||
Other long-term liabilities, principally contract liabilities, leases, contingent consideration and lines of credit | 66.8 | 115.5 | |||||
Total Liabilities | 801.5 | 694.5 | |||||
Equity | 1,671.6 | 1,614.8 | |||||
Total Liabilities and Equity | $ | 2,473.1 | $ | 2,309.3 |
OPKO Health, Inc. and SubsidiariesCondensed Consolidated Statements of Operations(in millions, except share and per share data)Unaudited
For the three months endedDecember 31, | For the year endedDecember 31, | ||||||||||||||
2020 | 2019 | 2020 | 2019 | ||||||||||||
Revenues | |||||||||||||||
Revenue from services | $ | 457.9 | $ | 177.9 | $ | 1,262.2 | $ | 716.4 | |||||||
Revenue from products | 30.8 | 32.0 | 120.0 | 112.2 | |||||||||||
Revenue from transfer of intellectual property | 5.9 | 14.4 | 53.2 | 73.3 | |||||||||||
Total revenues | 494.6 | 224.3 | 1,435.4 | 901.9 | |||||||||||
Costs and expenses | |||||||||||||||
Cost of revenues | 318.7 | 142.3 | 894.4 | 572.5 | |||||||||||
Selling, general and administrative | 101.8 | 79.1 | 355.6 | 343.3 | |||||||||||
Research and development | 17.5 | 23.0 | 75.3 | 117.9 | |||||||||||
Contingent consideration | (5.3 | ) | (14.8 | ) | (4.0 | ) | (14.9 | ) | |||||||
Amortization of intangible assets | 12.6 | 15.4 | 56.4 | 64.8 | |||||||||||
Asset impairment charges | 0.0 | 91.8 | 0.0 | 92.4 | |||||||||||
Total Costs and expenses | 445.3 | 336.8 | 1,377.7 | 1,176.0 | |||||||||||
Operating Income (loss) | 49.3 | (112.5 | ) | 57.7 | (274.1 | ) | |||||||||
Other income and (expense), net | (3.4 | ) | 4.0 | (9.0 | ) | (30.8 | ) | ||||||||
Income loss before income taxes and investment losses | 45.9 | (108.5 | ) | 48.7 | (304.9 | ) | |||||||||
Income tax provision | (13.6 | ) | (3.4 | ) | (17.6 | ) | (7.1 | ) | |||||||
Income (loss) before investment losses | 32.3 | (111.9 | ) | 31.1 | (312.0 | ) | |||||||||
Loss from investments in investees | (0.0 | ) | (0.5 | ) | (0.5 | ) | (2.9 | ) | |||||||
Net Income (loss) | $ | 32.3 | $ | (112.4 | ) | $ | 30.6 | $ | (314.9 | ) | |||||
Loss per share, basic and diluted | $ | 0.05 | $ | (0.18 | ) | $ | 0.05 | $ | (0.53 | ) | |||||
Weighted average common shares outstanding, basic and diluted | 640,590,427 | 622,474,281 | 640,655,290 | 595,454,394 |
1 Year Opko Health Chart |
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