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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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.015 | 1.15% | 1.315 | 1.31 | 1.32 | 1.32 | 1.29 | 1.29 | 748,124 | 16:59:06 |
|
|
☒
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
☐
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
|
|
Delaware
|
|
75-2402409
|
(State or Other Jurisdiction of
Incorporation or Organization)
|
|
(I.R.S. Employer
Identification No.)
|
4400 Biscayne Blvd.
|
||
Miami
|
FL
|
33137
|
(Address of Principal Executive Offices) (Zip Code)
|
||
|
|
|
(305)
|
575-4100
|
|
(Registrant’s Telephone Number, Including Area Code)
|
||
|
|
|
Title of each class
|
Trading Symbol
|
Name of each exchange on which registered
|
Common Stock, par value $0.01 per share
|
OPK
|
NASDAQ Global Select Market
|
|
Large accelerated filer
|
x
|
Accelerated filer
|
☐
|
Non-accelerated filer
|
¨
|
Smaller reporting company
|
☐
|
|
|
Emerging growth company
|
☐
|
|
Page
|
|||
|
|||
|
|||
•
|
our business may be materially adversely affected by the recent coronavirus (COVID-19) outbreak;
|
•
|
we have a history of losses and may not generate sustained positive cash flow sufficient to fund our operations and research and development programs;
|
•
|
our need for, and ability to obtain, additional financing when needed on favorable terms, or at all;
|
•
|
adverse results in material litigation matters or governmental inquiries, including, without limitation, pending class action and derivative lawsuits which followed the now settled lawsuit against the Company and its Chairman and Chief Executive Officer by the SEC;
|
•
|
the risks inherent in developing, obtaining regulatory approvals for and commercializing new, commercially viable and competitive products and treatments;
|
•
|
our research and development activities may not result in commercially viable products;
|
•
|
that earlier clinical results of effectiveness and safety may not be reproducible or indicative of future results;
|
•
|
the success of our relationship with Pfizer in connection with the development of hGH-CTP (somatrogon);
|
•
|
that we may fail to obtain regulatory approval for hGH-CTP or successfully commercialize Rayaldee and hGH-CTP;
|
•
|
that we may not generate profits or cash flow from our laboratory operations or substantial revenue from Rayaldee and our other pharmaceutical and diagnostic products;
|
•
|
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;
|
•
|
our ability to build a successful pharmaceutical sales and marketing infrastructure;
|
•
|
our ability and our distribution and marketing partners’ ability to comply with regulatory requirements regarding the sales, marketing and manufacturing of our products and product candidates and the operation of our laboratories;
|
•
|
the performance of our third-party distribution partners, licensees and manufacturers over which we have limited control;
|
•
|
our success is dependent on the involvement and continued efforts of our Chairman and Chief Executive Officer;
|
•
|
integration challenges for acquired businesses;
|
•
|
availability of insurance coverage with respect to material litigation matters;
|
•
|
changes in regulation and policies in the United States (“U.S.”) and other countries, including increasing downward pressure on healthcare reimbursement;
|
•
|
our ability to manage our growth and our expanded operations;
|
•
|
increased competition, including price competition;
|
•
|
changing relationships with payors, including the various state and multi-state Blues programs, suppliers and strategic partners;
|
•
|
efforts by third-party payors to reduce utilization and reimbursement for clinical testing services;
|
•
|
our ability to maintain reimbursement coverage for our products and services, including the 4Kscore test;
|
•
|
failure to timely or accurately bill and collect for our services;
|
•
|
the information technology systems that we rely on may be subject to unauthorized tampering, cyberattack or other data security or privacy incidents that could impact our billing processes or disrupt our operations;
|
•
|
failure to obtain and retain new clients and business partners, or a reduction in tests ordered or specimens submitted by existing clients;
|
•
|
failure to establish, and perform to, appropriate quality standards to assure that the highest level of quality is observed in the performance of our testing services;
|
•
|
failure to maintain the security of patient-related information;
|
•
|
our ability to obtain and maintain intellectual property protection for our products;
|
•
|
our ability to defend our intellectual property rights with respect to our products;
|
•
|
our ability to operate our business without infringing the intellectual property rights of others;
|
•
|
our ability to attract and retain key scientific and management personnel;
|
•
|
the risk that the carrying value of certain assets may exceed the fair value of the assets causing us to impair goodwill or other intangible assets;
|
•
|
failure to obtain and maintain regulatory approval outside the U.S.; and
|
•
|
legal, economic, political, regulatory, currency exchange, and other risks associated with international operations.
|
|
March 31, 2020
|
|
December 31, 2019
|
||||
ASSETS
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
34,530
|
|
|
$
|
85,452
|
|
Accounts receivable, net
|
132,476
|
|
|
134,617
|
|
||
Inventory, net
|
58,697
|
|
|
53,434
|
|
||
Other current assets and prepaid expenses
|
48,754
|
|
|
50,542
|
|
||
Total current assets
|
274,457
|
|
|
324,045
|
|
||
Property, plant and equipment, net
|
127,304
|
|
|
127,111
|
|
||
Intangible assets, net
|
513,511
|
|
|
528,962
|
|
||
In-process research and development
|
590,200
|
|
|
590,200
|
|
||
Goodwill
|
669,582
|
|
|
671,940
|
|
||
Investments
|
10,669
|
|
|
20,746
|
|
||
Operating lease right-of-use assets
|
39,793
|
|
|
39,380
|
|
||
Other assets
|
7,026
|
|
|
6,888
|
|
||
Total assets
|
$
|
2,232,542
|
|
|
$
|
2,309,272
|
|
LIABILITIES AND EQUITY
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Accounts payable
|
$
|
55,866
|
|
|
$
|
62,537
|
|
Accrued expenses
|
164,939
|
|
|
164,925
|
|
||
Current maturities of operating leases
|
11,480
|
|
|
12,038
|
|
||
Current portion of lines of credit and notes payable
|
12,802
|
|
|
9,619
|
|
||
Total current liabilities
|
245,087
|
|
|
249,119
|
|
||
Operating lease liabilities
|
28,669
|
|
|
27,665
|
|
||
Convertible notes
|
213,805
|
|
|
211,208
|
|
||
Deferred tax liabilities, net
|
118,600
|
|
|
118,717
|
|
||
Other long-term liabilities, principally contract liabilities, contingent consideration and line of credit
|
77,762
|
|
|
87,804
|
|
||
Total long-term liabilities
|
438,836
|
|
|
445,394
|
|
||
Total liabilities
|
683,923
|
|
|
694,513
|
|
||
Equity:
|
|
|
|
||||
Common Stock - $0.01 par value, 1,000,000,000 shares authorized; 670,378,701 and 670,378,701 shares issued at March 31, 2020 and December 31, 2019, respectively
|
6,704
|
|
|
6,704
|
|
||
Treasury Stock - 549,907 shares at March 31, 2020 and December 31, 2019, respectively
|
(1,791
|
)
|
|
(1,791
|
)
|
||
Additional paid-in capital
|
3,145,444
|
|
|
3,142,993
|
|
||
Accumulated other comprehensive loss
|
(30,187
|
)
|
|
(22,070
|
)
|
||
Accumulated deficit
|
(1,571,551
|
)
|
|
(1,511,077
|
)
|
||
Total shareholders’ equity
|
1,548,619
|
|
|
1,614,759
|
|
||
Total liabilities and equity
|
$
|
2,232,542
|
|
|
$
|
2,309,272
|
|
|
For the three months ended March 31,
|
||||||
|
2020
|
|
2019
|
||||
Revenues:
|
|
|
|
||||
Revenue from services
|
$
|
170,839
|
|
|
$
|
178,891
|
|
Revenue from products
|
31,074
|
|
|
25,301
|
|
||
Revenue from transfer of intellectual property and other
|
9,553
|
|
|
18,259
|
|
||
Total revenues
|
211,466
|
|
|
222,451
|
|
||
Costs and expenses:
|
|
|
|
||||
Cost of service revenue
|
122,887
|
|
|
129,903
|
|
||
Cost of product revenue
|
17,371
|
|
|
14,156
|
|
||
Selling, general and administrative
|
76,132
|
|
|
95,158
|
|
||
Research and development
|
21,760
|
|
|
36,529
|
|
||
Contingent consideration
|
(860
|
)
|
|
4,806
|
|
||
Amortization of intangible assets
|
14,938
|
|
|
16,562
|
|
||
Asset impairment charges
|
—
|
|
|
655
|
|
||
Total costs and expenses
|
252,228
|
|
|
297,769
|
|
||
Operating loss
|
(40,762
|
)
|
|
(75,318
|
)
|
||
Other income and (expense), net:
|
|
|
|
||||
Interest income
|
142
|
|
|
556
|
|
||
Interest expense
|
(5,496
|
)
|
|
(4,755
|
)
|
||
Fair value changes of derivative instruments, net
|
621
|
|
|
415
|
|
||
Other income (expense), net
|
(12,332
|
)
|
|
977
|
|
||
Other income and (expense), net
|
(17,065
|
)
|
|
(2,807
|
)
|
||
Loss before income taxes and investment losses
|
(57,827
|
)
|
|
(78,125
|
)
|
||
Income tax provision
|
(1,171
|
)
|
|
(783
|
)
|
||
Net loss before investment losses
|
(58,998
|
)
|
|
(78,908
|
)
|
||
Loss from investments in investees
|
(134
|
)
|
|
(1,854
|
)
|
||
Net loss
|
$
|
(59,132
|
)
|
|
$
|
(80,762
|
)
|
Loss per share, basic and diluted:
|
|
|
|
||||
Loss per share
|
$
|
(0.09
|
)
|
|
$
|
(0.14
|
)
|
Weighted average common shares outstanding, basic and diluted
|
640,578,794
|
|
|
586,344,207
|
|
|
For the three months ended March 31,
|
||||||
|
2020
|
|
2019
|
||||
Net loss
|
$
|
(59,132
|
)
|
|
$
|
(80,762
|
)
|
Other comprehensive income (loss), net of tax:
|
|
|
|
||||
Change in foreign currency translation and other comprehensive income (loss)
|
(8,117
|
)
|
|
(3,098
|
)
|
||
Comprehensive loss
|
$
|
(67,249
|
)
|
|
$
|
(83,860
|
)
|
|
Common Stock
|
|
Treasury
|
|
Additional
Paid-In Capital |
|
Accumulated Other
Comprehensive Loss |
|
Accumulated
Deficit |
|
Total
|
||||||||||||||||||
|
Shares
|
|
Dollars
|
|
Shares
|
|
Dollars
|
|
|
||||||||||||||||||||
Balance at December 31, 2019
|
670,378,701
|
|
|
$
|
6,704
|
|
|
(549,907
|
)
|
|
$
|
(1,791
|
)
|
|
$
|
3,142,993
|
|
|
$
|
(22,070
|
)
|
|
$
|
(1,511,077
|
)
|
|
$
|
1,614,759
|
|
Equity-based compensation expense
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2,451
|
|
|
—
|
|
|
—
|
|
|
2,451
|
|
||||||
Exercise of Common Stock options and warrants
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Adoption of ASC 326
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1,342
|
)
|
|
(1,342
|
)
|
||||||
2025 convertible notes including share lending arrangement
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Net loss
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(59,132
|
)
|
|
(59,132
|
)
|
||||||
Other comprehensive loss
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(8,117
|
)
|
|
—
|
|
|
(8,117
|
)
|
||||||
Balance at March 31, 2020
|
670,378,701
|
|
|
$
|
6,704
|
|
|
(549,907
|
)
|
|
$
|
(1,791
|
)
|
|
$
|
3,145,444
|
|
|
$
|
(30,187
|
)
|
|
$
|
(1,571,551
|
)
|
|
$
|
1,548,619
|
|
|
Common Stock
|
|
Treasury
|
|
Additional
Paid-In Capital |
|
Accumulated Other
Comprehensive Loss |
|
Accumulated
Deficit |
|
Total
|
||||||||||||||||||
|
Shares
|
|
Dollars
|
|
Shares
|
|
Dollars
|
|
|
||||||||||||||||||||
Balance at December 31, 2018
|
586,881,720
|
|
|
$
|
5,869
|
|
|
(549,907
|
)
|
|
$
|
(1,791
|
)
|
|
$
|
3,004,422
|
|
|
$
|
(20,131
|
)
|
|
$
|
(1,197,078
|
)
|
|
$
|
1,791,291
|
|
Equity-based compensation expense
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
4,457
|
|
|
—
|
|
|
—
|
|
|
4,457
|
|
||||||
Exercise of Common Stock options and warrants
|
19,232
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
—
|
|
|
(3
|
)
|
||||||
Adoption of ASU 2018-07
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(926
|
)
|
|
—
|
|
|
926
|
|
|
—
|
|
||||||
2025 convertible notes including share lending arrangement
|
29,250,000
|
|
|
293
|
|
|
—
|
|
|
—
|
|
|
50,559
|
|
|
—
|
|
|
—
|
|
|
50,852
|
|
||||||
Net loss
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(80,762
|
)
|
|
(80,762
|
)
|
||||||
Other comprehensive loss
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(3,098
|
)
|
|
—
|
|
|
(3,098
|
)
|
||||||
Balance at March 31, 2019
|
616,150,952
|
|
|
$
|
6,162
|
|
|
(549,907
|
)
|
|
$
|
(1,791
|
)
|
|
$
|
3,058,509
|
|
|
$
|
(23,229
|
)
|
|
$
|
(1,276,914
|
)
|
|
$
|
1,762,737
|
|
|
For the three months ended March 31,
|
||||||
|
2020
|
|
2019
|
||||
Cash flows from operating activities:
|
|
|
|
||||
Net loss
|
$
|
(59,132
|
)
|
|
$
|
(80,762
|
)
|
Adjustments to reconcile net loss to net cash used in operating activities:
|
|
|
|
||||
Depreciation and amortization
|
22,052
|
|
|
23,816
|
|
||
Non-cash interest
|
2,483
|
|
|
3,010
|
|
||
Amortization of deferred financing costs
|
203
|
|
|
405
|
|
||
Losses from investments in investees
|
134
|
|
|
1,854
|
|
||
Equity-based compensation – employees and non-employees
|
2,451
|
|
|
4,457
|
|
||
Realized loss on disposal of fixed assets and sales of equity securities
|
102
|
|
|
284
|
|
||
Change in fair value of equity securities and derivative instruments
|
9,259
|
|
|
(1,825
|
)
|
||
Change in fair value of contingent consideration
|
(860
|
)
|
|
4,806
|
|
||
Impairment of assets
|
—
|
|
|
655
|
|
||
Deferred income tax (benefit) provision
|
613
|
|
|
(352
|
)
|
||
Changes in assets and liabilities, net of the effects of acquisitions:
|
|
|
|
||||
Accounts receivable, net
|
(763
|
)
|
|
(439
|
)
|
||
Inventory, net
|
(8,831
|
)
|
|
(2,475
|
)
|
||
Other current assets and prepaid expenses
|
(729
|
)
|
|
(46
|
)
|
||
Other assets
|
60
|
|
|
(243
|
)
|
||
Accounts payable
|
(4,865
|
)
|
|
3,713
|
|
||
Foreign currency measurement
|
56
|
|
|
(23
|
)
|
||
Contract liabilities
|
(9,451
|
)
|
|
(18,073
|
)
|
||
Accrued expenses and other liabilities
|
3,848
|
|
|
12,250
|
|
||
Net cash used in operating activities
|
(43,370
|
)
|
|
(48,988
|
)
|
||
Cash flows from investing activities:
|
|
|
|
||||
Investments in investees
|
—
|
|
|
(1,200
|
)
|
||
Proceeds from the sale of property, plant and equipment
|
7
|
|
|
—
|
|
||
Capital expenditures
|
(5,626
|
)
|
|
(2,932
|
)
|
||
Net cash used in investing activities
|
(5,619
|
)
|
|
(4,132
|
)
|
||
Cash flows from financing activities:
|
|
|
|
||||
Issuance of convertible notes, including to related parties
|
—
|
|
|
200,293
|
|
||
Debt issuance costs
|
—
|
|
|
(7,762
|
)
|
||
Proceeds from the exercise of Common Stock options and warrants
|
—
|
|
|
(3
|
)
|
||
Borrowings on lines of credit
|
186,398
|
|
|
35,460
|
|
||
Repayments of lines of credit
|
(188,009
|
)
|
|
(35,313
|
)
|
||
Redemption of 2033 Senior Notes
|
—
|
|
|
(28,800
|
)
|
||
Net cash (used in) provided by financing activities
|
(1,611
|
)
|
|
163,875
|
|
||
Effect of exchange rate changes on cash and cash equivalents
|
(322
|
)
|
|
22
|
|
||
Net increase (decrease) in cash and cash equivalents
|
(50,922
|
)
|
|
110,777
|
|
||
Cash and cash equivalents at beginning of period
|
85,452
|
|
|
96,473
|
|
||
Cash and cash equivalents at end of period
|
$
|
34,530
|
|
|
$
|
207,250
|
|
SUPPLEMENTAL INFORMATION:
|
|
|
|
||||
Interest paid
|
$
|
5,012
|
|
|
$
|
511
|
|
Income taxes paid, net of refunds
|
$
|
799
|
|
|
$
|
1,022
|
|
Operating lease right-of-use assets due to adoption of ASU No. 2016-02
|
$
|
—
|
|
|
$
|
33,277
|
|
Operating lease liabilities due to adoption of ASU No. 2016-02
|
$
|
—
|
|
|
$
|
33,744
|
|
Non-cash financing:
|
|
|
|
||||
Shares issued upon the conversion of:
|
|
|
|
||||
Common Stock options and warrants, surrendered in net exercise
|
$
|
—
|
|
|
$
|
20
|
|
(In thousands)
|
March 31,
2020 |
|
December 31,
2019 |
||||
Accounts receivable, net:
|
|
|
|
||||
Accounts receivable
|
$
|
134,223
|
|
|
$
|
136,551
|
|
Less: allowance for credit losses
|
(1,747
|
)
|
|
(1,934
|
)
|
||
|
$
|
132,476
|
|
|
$
|
134,617
|
|
Inventories, net:
|
|
|
|
||||
Consumable supplies
|
$
|
28,010
|
|
|
$
|
23,005
|
|
Finished products
|
23,729
|
|
|
25,142
|
|
||
Work in-process
|
4,260
|
|
|
3,238
|
|
||
Raw materials
|
4,591
|
|
|
4,586
|
|
||
Less: inventory reserve
|
(1,893
|
)
|
|
(2,537
|
)
|
||
|
$
|
58,697
|
|
|
$
|
53,434
|
|
Other current assets and prepaid expenses:
|
|
|
|
||||
Taxes recoverable
|
$
|
13,577
|
|
|
$
|
19,808
|
|
Prepaid expenses
|
12,602
|
|
|
8,147
|
|
||
Prepaid insurance
|
6,143
|
|
|
3,486
|
|
||
Other receivables
|
646
|
|
|
3,262
|
|
||
Other
|
15,786
|
|
|
15,839
|
|
||
|
$
|
48,754
|
|
|
$
|
50,542
|
|
Intangible assets, net:
|
|
|
|
||||
Customer relationships
|
$
|
444,328
|
|
|
$
|
445,408
|
|
Technologies
|
296,169
|
|
|
296,246
|
|
||
Trade names
|
49,760
|
|
|
49,786
|
|
||
Covenants not to compete
|
16,315
|
|
|
16,318
|
|
||
Licenses
|
5,766
|
|
|
5,766
|
|
||
Product registrations
|
6,876
|
|
|
7,578
|
|
||
Other
|
6,007
|
|
|
6,094
|
|
||
Less: accumulated amortization
|
(311,710
|
)
|
|
(298,234
|
)
|
||
|
$
|
513,511
|
|
|
$
|
528,962
|
|
Accrued expenses:
|
|
|
|
||||
Contract liabilities
|
$
|
10,455
|
|
|
$
|
19,196
|
|
Employee benefits
|
35,325
|
|
|
33,671
|
|
||
Commitments and Contingencies
|
37,647
|
|
|
38,635
|
|
||
Clinical trials
|
7,540
|
|
|
8,122
|
|
||
Contingent consideration
|
2,375
|
|
|
2,375
|
|
||
Finance leases short-term
|
2,598
|
|
|
2,743
|
|
||
Professional fees
|
903
|
|
|
1,333
|
|
||
Other
|
68,096
|
|
|
58,850
|
|
||
|
$
|
164,939
|
|
|
$
|
164,925
|
|
|
|
|
|
(In thousands)
|
March 31,
2020 |
|
December 31,
2019 |
||||
Other long-term liabilities:
|
|
|
|
||||
Line of credit
|
$
|
39,311
|
|
|
$
|
44,749
|
|
Contingent consideration
|
6,448
|
|
|
7,308
|
|
||
Mortgages and other debts payable
|
3,538
|
|
|
3,906
|
|
||
Finance leases long-term
|
3,489
|
|
|
4,046
|
|
||
Contract liabilities
|
1,861
|
|
|
2,571
|
|
||
Other
|
23,115
|
|
|
25,224
|
|
||
|
$
|
77,762
|
|
|
$
|
87,804
|
|
|
2020
|
||||||||||
(In thousands)
|
Balance at January 1
|
|
Foreign exchange and other
|
|
Balance at March 31st
|
||||||
Pharmaceuticals
|
|
|
|
|
|
||||||
Rayaldee
|
$
|
85,605
|
|
|
$
|
(1,602
|
)
|
|
$
|
84,003
|
|
OPKO Chile
|
4,348
|
|
|
(614
|
)
|
|
3,734
|
|
|||
OPKO Biologics
|
139,784
|
|
|
—
|
|
|
139,784
|
|
|||
OPKO Health Europe
|
7,394
|
|
|
(142
|
)
|
|
7,252
|
|
|||
|
|
|
|
|
|
||||||
Diagnostics
|
|
|
|
|
|
||||||
BioReference
|
434,809
|
|
|
—
|
|
|
434,809
|
|
|||
|
$
|
671,940
|
|
|
$
|
(2,358
|
)
|
|
$
|
669,582
|
|
(in thousands)
|
|
|
|
|
||||
Investment type
|
|
Investment Carrying Value
|
|
Underlying Equity in Net Assets
|
||||
Equity method investments
|
|
$
|
711
|
|
|
$
|
1,427
|
|
Variable interest entity, equity method
|
|
875
|
|
|
—
|
|
||
Equity securities
|
|
8,990
|
|
|
|
|||
Equity securities with no readily determinable fair value
|
|
35
|
|
|
|
|||
Warrants and options
|
|
58
|
|
|
|
|||
Total carrying value of investments
|
|
$
|
10,669
|
|
|
|
(In thousands)
|
2025 Senior Notes
|
|
Discount
|
|
Debt Issuance Cost
|
|
Total
|
||||||||
Balance at December 31, 2019
|
$
|
200,000
|
|
|
$
|
(46,774
|
)
|
|
$
|
(5,086
|
)
|
|
$
|
148,140
|
|
Amortization of debt discount and debt issuance costs
|
—
|
|
|
1,724
|
|
|
188
|
|
|
1,912
|
|
||||
Balance at March 31, 2020
|
$
|
200,000
|
|
|
$
|
(45,050
|
)
|
|
$
|
(4,898
|
)
|
|
$
|
150,052
|
|
(Dollars in thousands)
|
|
|
|
|
|
Balance Outstanding
|
||||||||
Lender
|
|
Interest rate on
borrowings at March 31, 2020
|
|
Credit line
capacity
|
|
March 31,
2020 |
|
December 31,
2019
|
||||||
JPMorgan Chase
|
|
3.55%
|
|
$
|
75,000
|
|
|
$
|
39,311
|
|
|
$
|
44,750
|
|
Itau Bank
|
|
5.50%
|
|
1,810
|
|
|
565
|
|
|
472
|
|
|||
Bank of Chile
|
|
6.60%
|
|
3,800
|
|
|
950
|
|
|
851
|
|
|||
BICE Bank
|
|
5.50%
|
|
2,500
|
|
|
896
|
|
|
1,429
|
|
|||
BBVA Bank
|
|
5.50%
|
|
3,250
|
|
|
—
|
|
|
11
|
|
|||
Security Bank
|
|
5.50%
|
|
489
|
|
|
489
|
|
|
588
|
|
|||
Estado Bank
|
|
5.50%
|
|
3,500
|
|
|
2,109
|
|
|
1,365
|
|
|||
Santander Bank
|
|
5.50%
|
|
4,500
|
|
|
3,186
|
|
|
1,943
|
|
|||
Scotiabank
|
|
5.00%
|
|
1,800
|
|
|
1,664
|
|
|
668
|
|
|||
Corpbanca
|
|
5.00%
|
|
1,017
|
|
|
1,017
|
|
|
—
|
|
|||
Banco De Sabadell
|
|
1.30%
|
|
330
|
|
|
—
|
|
|
—
|
|
|||
Banco Bilbao Vizcaya
|
|
1.70%
|
|
330
|
|
|
—
|
|
|
—
|
|
|||
Banco Santander
|
|
1.40%
|
|
330
|
|
|
—
|
|
|
—
|
|
|||
Total
|
|
|
|
$
|
98,656
|
|
|
$
|
50,187
|
|
|
$
|
52,077
|
|
(In thousands)
|
March 31,
2020 |
|
December 31,
2019
|
||||
Current portion of notes payable
|
$
|
1,927
|
|
|
$
|
2,494
|
|
Other long-term liabilities
|
4,291
|
|
|
4,723
|
|
||
Total
|
$
|
6,218
|
|
|
$
|
7,217
|
|
(In thousands)
|
Foreign
currency
translation
|
||
Balance at December 31, 2019
|
$
|
(22,070
|
)
|
Other comprehensive loss before reclassifications
|
(8,117
|
)
|
|
Balance at March 31, 2020
|
$
|
(30,187
|
)
|
|
Fair value measurements as of March 31, 2020
|
||||||||||||||
(In thousands)
|
Quoted
prices in
active
markets for
identical
assets
(Level 1)
|
|
Significant
other
observable
inputs
(Level 2)
|
|
Significant
unobservable
inputs
(Level 3)
|
|
Total
|
||||||||
Assets:
|
|
|
|
|
|
|
|
||||||||
Equity securities
|
$
|
8,990
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
8,990
|
|
Common stock options/warrants
|
—
|
|
|
58
|
|
|
—
|
|
|
58
|
|
||||
Forward contracts
|
—
|
|
|
481
|
|
|
—
|
|
|
481
|
|
||||
Total assets
|
$
|
8,990
|
|
|
$
|
539
|
|
|
$
|
—
|
|
|
$
|
9,529
|
|
Liabilities:
|
|
|
|
|
|
|
|
||||||||
Contingent consideration
|
—
|
|
|
—
|
|
|
8,823
|
|
|
8,823
|
|
||||
Total liabilities
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
8,823
|
|
|
$
|
8,823
|
|
|
Fair value measurements as of December 31, 2019
|
||||||||||||||
(In thousands)
|
Quoted
prices in
active
markets for
identical
assets
(Level 1)
|
|
Significant
other
observable
inputs
(Level 2)
|
|
Significant
unobservable
inputs
(Level 3)
|
|
Total
|
||||||||
Assets:
|
|
|
|
|
|
|
|
||||||||
Equity securities
|
$
|
18,870
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
18,870
|
|
Common stock options/warrants
|
—
|
|
|
120
|
|
|
—
|
|
|
120
|
|
||||
Forward contracts
|
—
|
|
|
133
|
|
|
—
|
|
|
133
|
|
||||
Total assets
|
$
|
18,870
|
|
|
$
|
253
|
|
|
$
|
—
|
|
|
$
|
19,123
|
|
Liabilities:
|
|
|
|
|
|
|
|
||||||||
Contingent consideration
|
—
|
|
|
—
|
|
|
9,683
|
|
|
9,683
|
|
||||
Total liabilities
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
9,683
|
|
|
$
|
9,683
|
|
|
March 31, 2020
|
||
(In thousands)
|
Contingent
consideration
|
||
Balance at December 31, 2019
|
$
|
9,683
|
|
Change in fair value:
|
|
||
Included in results of operations
|
(860
|
)
|
|
Balance at March 31, 2020
|
$
|
8,823
|
|
(In thousands)
|
Balance Sheet Component
|
|
March 31,
2020 |
|
December 31,
2019 |
||||
Derivative financial instruments:
|
|
|
|
|
|
||||
Common Stock options/warrants
|
Investments, net
|
|
$
|
58
|
|
|
$
|
120
|
|
Forward contracts
|
Unrealized gains on forward contracts are recorded in Other current assets and prepaid expenses. Unrealized (losses) on forward contracts are recorded in Accrued expenses.
|
|
$
|
481
|
|
|
$
|
133
|
|
|
Three months ended March 31,
|
||||||
(In thousands)
|
2020
|
|
2019
|
||||
Derivative gain (loss):
|
|
|
|
||||
Common Stock options/warrants
|
$
|
(62
|
)
|
|
$
|
368
|
|
Forward contracts
|
683
|
|
|
47
|
|
||
Total
|
$
|
621
|
|
|
$
|
415
|
|
|
Three months ended March 31,
|
||||||
(In thousands)
|
2020
|
|
2019
|
||||
Healthcare insurers
|
$
|
99,081
|
|
|
$
|
103,763
|
|
Government payers
|
26,930
|
|
|
31,626
|
|
||
Client payers
|
39,132
|
|
|
38,422
|
|
||
Patients
|
5,696
|
|
|
5,080
|
|
||
Total
|
$
|
170,839
|
|
|
$
|
178,891
|
|
(In thousands)
|
|
Chargebacks, discounts, rebates and fees
|
|
Governmental
|
|
Returns
|
|
Total
|
||||||||
Balance at December 31, 2019
|
|
$
|
3,194
|
|
|
$
|
5,841
|
|
|
$
|
2,751
|
|
|
$
|
11,786
|
|
Provision related to current period sales
|
|
4,825
|
|
|
7,208
|
|
|
703
|
|
|
12,736
|
|
||||
Credits or payments made
|
|
(5,156
|
)
|
|
(6,850
|
)
|
|
(122
|
)
|
|
(12,128
|
)
|
||||
Balance at March 31, 2020
|
|
$
|
2,863
|
|
|
$
|
6,199
|
|
|
$
|
3,332
|
|
|
$
|
12,394
|
|
|
|
|
|
|
|
|
|
|
||||||||
Total gross Rayaldee sales
|
|
|
|
|
|
|
|
$
|
22,683
|
|
||||||
Provision for Rayaldee sales allowances and accruals as a percentage of gross Rayaldee sales
|
|
|
|
|
|
|
|
56
|
%
|
|
For the three months ended March 31,
|
||||||
(In thousands)
|
2020
|
|
2019
|
||||
Revenue from services:
|
|
|
|
||||
Pharmaceutical
|
$
|
—
|
|
|
$
|
—
|
|
Diagnostics
|
170,839
|
|
|
178,891
|
|
||
Corporate
|
—
|
|
|
—
|
|
||
|
$
|
170,839
|
|
|
$
|
178,891
|
|
Revenue from products:
|
|
|
|
||||
Pharmaceutical
|
$
|
31,074
|
|
|
$
|
25,301
|
|
Diagnostics
|
—
|
|
|
—
|
|
||
Corporate
|
—
|
|
|
—
|
|
||
|
$
|
31,074
|
|
|
$
|
25,301
|
|
Revenue from transfer of intellectual property and other:
|
|
|
|
||||
Pharmaceutical
|
$
|
9,553
|
|
|
$
|
18,259
|
|
Diagnostics
|
—
|
|
|
—
|
|
||
Corporate
|
—
|
|
|
—
|
|
||
|
$
|
9,553
|
|
|
$
|
18,259
|
|
Operating loss:
|
|
|
|
||||
Pharmaceutical
|
$
|
(14,126
|
)
|
|
$
|
(29,477
|
)
|
Diagnostics
|
(18,133
|
)
|
|
(33,569
|
)
|
||
Corporate
|
(8,503
|
)
|
|
(12,272
|
)
|
||
|
$
|
(40,762
|
)
|
|
$
|
(75,318
|
)
|
Depreciation and amortization:
|
|
|
|
||||
Pharmaceutical
|
$
|
7,121
|
|
|
$
|
7,526
|
|
Diagnostics
|
14,871
|
|
|
16,271
|
|
||
Corporate
|
60
|
|
|
19
|
|
||
|
$
|
22,052
|
|
|
$
|
23,816
|
|
Loss from investment in investees:
|
|
|
|
||||
Pharmaceutical
|
$
|
(134
|
)
|
|
$
|
(1,854
|
)
|
Diagnostics
|
—
|
|
|
—
|
|
||
Corporate
|
—
|
|
|
—
|
|
||
|
$
|
(134
|
)
|
|
$
|
(1,854
|
)
|
Revenues:
|
|
|
|
||||
United States
|
$
|
180,872
|
|
|
$
|
184,894
|
|
Ireland
|
11,901
|
|
|
20,534
|
|
||
Chile
|
10,850
|
|
|
7,865
|
|
||
Spain
|
4,156
|
|
|
4,418
|
|
||
Israel
|
1,707
|
|
|
3,116
|
|
||
Mexico
|
1,841
|
|
|
1,531
|
|
||
Other
|
139
|
|
|
93
|
|
||
|
$
|
211,466
|
|
|
$
|
222,451
|
|
(In thousands)
|
March 31,
2020 |
|
December 31,
2019 |
||||
Assets:
|
|
|
|
||||
Pharmaceutical
|
$
|
1,157,430
|
|
|
$
|
1,174,639
|
|
Diagnostics
|
1,026,880
|
|
|
1,035,112
|
|
||
Corporate
|
48,232
|
|
|
99,521
|
|
||
|
$
|
2,232,542
|
|
|
$
|
2,309,272
|
|
Goodwill:
|
|
|
|
||||
Pharmaceutical
|
$
|
234,773
|
|
|
$
|
237,131
|
|
Diagnostics
|
434,809
|
|
|
434,809
|
|
||
Corporate
|
—
|
|
|
—
|
|
||
|
$
|
669,582
|
|
|
$
|
671,940
|
|
(in thousands)
|
|
Classification on the Balance Sheet
|
|
March 31, 2020
|
|
December 31, 2019
|
||||
Assets
|
|
|
|
|
|
|
||||
Operating lease assets
|
|
Operating lease right-of-use assets
|
|
$
|
39,793
|
|
|
$
|
39,380
|
|
Finance lease assets
|
|
Property, plant and equipment, net
|
|
6,087
|
|
|
6,789
|
|
||
|
|
|
|
|
|
|
||||
Liabilities
|
|
|
|
|
|
|
||||
Current
|
|
|
|
|
|
|
||||
Operating lease liabilities
|
|
Current maturities of operating leases
|
|
11,480
|
|
|
12,038
|
|
||
Accrued expenses
|
|
Current maturities of finance leases
|
|
2,598
|
|
|
2,743
|
|
||
Long-term
|
|
|
|
|
|
|
||||
Operating lease liabilities
|
|
Operating lease liabilities
|
|
28,669
|
|
|
27,665
|
|
||
Other long-term liabilities
|
|
Finance lease liabilities
|
|
$
|
3,489
|
|
|
$
|
4,046
|
|
|
|
|
|
|
|
|
||||
Weighted average remaining lease term
|
|
|
|
|
|
|
||||
Operating leases
|
|
|
|
5.6 years
|
|
|
5.6 years
|
|
||
Finance leases
|
|
|
|
2.4 years
|
|
|
2.6 years
|
|
||
Weighted average discount rate
|
|
|
|
|
|
|
||||
Operating leases
|
|
|
|
6.3
|
%
|
|
6.3
|
%
|
||
Finance leases
|
|
|
|
3.6
|
%
|
|
3.0
|
%
|
(in thousands)
|
Operating
|
|
Finance
|
||||
April 1, 2020 through December 31, 2020
|
$
|
9,601
|
|
|
$
|
2,122
|
|
2021
|
7,079
|
|
|
2,186
|
|
||
2022
|
6,108
|
|
|
1,171
|
|
||
2023
|
5,457
|
|
|
586
|
|
||
2024
|
4,297
|
|
|
242
|
|
||
Thereafter
|
17,189
|
|
|
—
|
|
||
Total undiscounted future minimum lease payments
|
49,731
|
|
|
6,307
|
|
||
Less: Difference between lease payments and discounted lease liabilities
|
9,582
|
|
|
220
|
|
||
Total lease liabilities
|
$
|
40,149
|
|
|
$
|
6,087
|
|
(in thousands)
|
For the three months ended March 31,
|
||||||
|
2020
|
|
2019
|
||||
Operating cash out flows from operating leases
|
$
|
4,698
|
|
|
$
|
5,742
|
|
Operating cash out flows from finance leases
|
45
|
|
|
191
|
|
||
Financing cash out flows from finance leases
|
493
|
|
|
660
|
|
||
Total
|
$
|
5,236
|
|
|
$
|
6,593
|
|
•
|
We received approximately $14 million under The Centers for Medicare & Medicaid Services (CMS) Accelerated and Advance Payment Program, which provides accelerated payments to Medicare providers/suppliers working to provide treatment to patients and combat the COVID-19 pandemic. The amounts advanced are loans which will be offset against future claims and must be repaid;
|
•
|
We are eligible to defer depositing the employer’s share of Social Security taxes for payments due from March 27, 2020 through December 31, 2020, interest-free and penalty-free;
|
•
|
We received approximately $6 million in April 2020 from the initial tranche of funds that was distributed to health care providers for related expenses or lost revenues that are attributable to the COVID-19 pandemic;
|
•
|
U.S. Department of Health and Human Services (HHS), will provide claims reimbursement to health care providers generally at Medicare rates for testing uninsured patients; and
|
•
|
Clinical laboratories are provided a one-year reprieve from the reporting requirements under the Protecting Access to Medicare Act (“PAMA”) as well as a one-year delay of reimbursement rate reductions for clinical laboratory services provided under Medicare that were scheduled to take place in 2021.
|
|
For the three months ended March 31,
|
|
|
|||||||
(In thousands)
|
2020
|
2019
|
|
Change
|
||||||
Revenues:
|
|
|
|
|
||||||
Revenue from services
|
$
|
170,839
|
|
$
|
178,891
|
|
|
$
|
(8,052
|
)
|
Revenue from products
|
31,074
|
|
25,301
|
|
|
5,773
|
|
|||
Revenue from transfer of intellectual property and other
|
9,553
|
|
18,259
|
|
|
(8,706
|
)
|
|||
Total revenues
|
211,466
|
|
222,451
|
|
|
(10,985
|
)
|
|||
Costs and expenses:
|
|
|
|
|
||||||
Cost of revenue
|
140,258
|
|
144,059
|
|
|
(3,801
|
)
|
|||
Selling, general and administrative
|
76,132
|
|
95,158
|
|
|
(19,026
|
)
|
|||
Research and development
|
21,760
|
|
36,529
|
|
|
(14,769
|
)
|
|||
Contingent Consideration
|
(860
|
)
|
4,806
|
|
|
(5,666
|
)
|
|||
Amortization of intangible assets
|
14,938
|
|
16,562
|
|
|
(1,624
|
)
|
|||
Asset impairment charges
|
—
|
|
655
|
|
|
(655
|
)
|
|||
Total costs and expenses
|
252,228
|
|
297,769
|
|
|
(45,541
|
)
|
|||
Loss from continuing operations
|
(40,762
|
)
|
(75,318
|
)
|
|
34,556
|
|
|
For the three months ended March 31,
|
|
|
|||||||
(In thousands)
|
2020
|
2019
|
|
Change
|
||||||
Revenues
|
|
|
|
|
||||||
Revenue from services
|
$
|
170,839
|
|
$
|
178,891
|
|
|
$
|
(8,052
|
)
|
Total revenues
|
170,839
|
|
178,891
|
|
|
(8,052
|
)
|
|||
Costs and expenses:
|
|
|
|
|
||||||
Cost of revenue
|
122,906
|
|
129,913
|
|
|
(7,007
|
)
|
|||
Selling, general and administrative
|
52,724
|
|
67,465
|
|
|
(14,741
|
)
|
|||
Research and development
|
3,393
|
|
3,793
|
|
|
(400
|
)
|
|||
Contingent Consideration
|
33
|
|
492
|
|
|
(459
|
)
|
|||
Amortization of intangible assets
|
9,916
|
|
10,797
|
|
|
(881
|
)
|
|||
Total costs and expenses
|
188,972
|
|
212,460
|
|
|
(23,488
|
)
|
|||
Loss from continuing operations
|
(18,133
|
)
|
(33,569
|
)
|
|
15,436
|
|
•
|
$7.1 million and $2.9 million from reduced clinical test volumes and genomics testing, respectively. Total volume (measured by requisitions) decreased by 6.6%. The decline in volume includes the negative impacts from the COVID-19 pandemic, principally from referring physician office closures and stay-at-home guidance throughout states in which we predominately operate, and declines in routine clinical and genomics testing, which declined 60% to 65% versus the Company's normal daily levels at the end of the quarter. COVID-19 testing represented 4.5% of total volume for the first quarter of 2020;
|
•
|
$2.2 million from lower net reimbursement on our genomic testing due to increased denial rates, which was partially offset by the positive impacts of increased reimbursement from our clinical testing of $3.3 million resulting from improved operational procedures, and a flattening of our denial rate, which was partially offset by the latest negative impact of the Protecting Access to Medicare Act of 2014 price reduction which went into effective January 1, 2020.
|
|
Three months ended March 31,
|
||||||
(In thousands)
|
2020
|
|
2019
|
||||
Healthcare insurers
|
$
|
99,081
|
|
|
$
|
103,763
|
|
Government payers
|
26,930
|
|
|
31,626
|
|
||
Client payers
|
39,132
|
|
|
38,422
|
|
||
Patients
|
5,696
|
|
|
5,080
|
|
||
Total
|
$
|
170,839
|
|
|
$
|
178,891
|
|
Research and Development Expenses
|
For the three months ended March 31,
|
||||||
|
2020
|
|
2019
|
||||
External expenses:
|
|
|
|
||||
PMA studies
|
$
|
54
|
|
|
$
|
61
|
|
Research and development employee-related expenses
|
2,210
|
|
|
1,435
|
|
||
Other internal research and development expenses
|
1,129
|
|
|
2,297
|
|
||
Total research and development expenses
|
$
|
3,393
|
|
|
$
|
3,793
|
|
|
For the three months ended March 31,
|
|
|
|||||||
(In thousands)
|
2020
|
2019
|
|
Change
|
||||||
Revenues:
|
|
|
|
|
||||||
Revenue from products
|
$
|
31,074
|
|
$
|
25,301
|
|
|
$
|
5,773
|
|
Revenue from transfer of intellectual property and other
|
9,553
|
|
18,259
|
|
|
(8,706
|
)
|
|||
Total revenues
|
40,627
|
|
43,560
|
|
|
(2,933
|
)
|
|||
Costs and expenses:
|
|
|
|
|
||||||
Cost of revenue
|
17,411
|
|
14,237
|
|
|
3,174
|
|
|||
Selling, general and administrative
|
14,663
|
|
15,026
|
|
|
(363
|
)
|
|||
Research and development
|
18,550
|
|
33,040
|
|
|
(14,490
|
)
|
|||
Contingent Consideration
|
(893
|
)
|
4,314
|
|
|
(5,207
|
)
|
|||
Amortization of intangible assets
|
5,022
|
|
5,765
|
|
|
(743
|
)
|
|||
Asset impairment charges
|
—
|
|
655
|
|
|
(655
|
)
|
|||
Total costs and expenses
|
54,753
|
|
73,037
|
|
|
(18,284
|
)
|
|||
Loss from continuing operations
|
(14,126
|
)
|
(29,477
|
)
|
|
15,351
|
|
Research and Development Expenses
|
For the three months ended March 31,
|
||||||
|
2020
|
|
2019
|
||||
External expenses:
|
|
|
|
||||
Manufacturing expense for biological products
|
$
|
3,037
|
|
|
$
|
9,685
|
|
Phase III studies
|
3,042
|
|
|
5,425
|
|
||
Post-marketing studies
|
840
|
|
|
364
|
|
||
Earlier-stage programs
|
3,604
|
|
|
10,093
|
|
||
Research and development employee-related expenses
|
6,382
|
|
|
6,268
|
|
||
Other internal research and development expenses
|
1,645
|
|
|
1,624
|
|
||
Third-party grants and funding from collaboration agreements
|
—
|
|
|
(419
|
)
|
||
Total research and development expenses
|
$
|
18,550
|
|
|
$
|
33,040
|
|
|
For the three months ended March 31,
|
|
|
||||||
(In thousands)
|
2020
|
2019
|
|
Change
|
|||||
Cost of revenue
|
$
|
(59
|
)
|
$
|
(91
|
)
|
|
32
|
|
Selling, general and administrative
|
8,745
|
|
12,667
|
|
|
(3,922
|
)
|
||
Research and development
|
(183
|
)
|
(304
|
)
|
|
121
|
|
||
Total costs and expenses
|
8,503
|
|
12,272
|
|
|
(3,769
|
)
|
||
Loss from continuing operations
|
(8,503
|
)
|
(12,272
|
)
|
|
3,769
|
|
Contractual obligations
(In thousands)
|
|
Remaining nine months ending December 31, 2020
|
|
2021
|
|
2022
|
|
2023
|
|
2024
|
|
Thereafter
|
|
Total
|
||||||||||||||
Open purchase orders
|
|
$
|
100,816
|
|
|
$
|
268
|
|
|
$
|
14
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
101,098
|
|
Operating leases
|
|
9,472
|
|
|
6,669
|
|
|
5,495
|
|
|
4,598
|
|
|
3,379
|
|
|
10,536
|
|
|
40,149
|
|
|||||||
Finance leases
|
|
2,006
|
|
|
2,121
|
|
|
1,143
|
|
|
578
|
|
|
239
|
|
|
—
|
|
|
6,087
|
|
|||||||
2033 Senior Notes, 2025 and 2023 Convertible Notes
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
3,050
|
|
|
205,052
|
|
|
208,102
|
|
|||||||
Deferred payments
|
|
7,725
|
|
|
7,500
|
|
|
7,100
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
22,325
|
|
|||||||
Mortgages and other debts payable
|
|
1,286
|
|
|
697
|
|
|
493
|
|
|
302
|
|
|
240
|
|
|
—
|
|
|
3,018
|
|
|||||||
Lines of credit
|
|
10,875
|
|
|
39,311
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
50,186
|
|
|||||||
Interest commitments
|
|
626
|
|
|
288
|
|
|
274
|
|
|
14,033
|
|
|
257
|
|
|
43,633
|
|
|
59,111
|
|
|||||||
Total
|
|
$
|
132,806
|
|
|
$
|
56,854
|
|
|
$
|
14,519
|
|
|
$
|
19,511
|
|
|
$
|
7,165
|
|
|
$
|
259,221
|
|
|
$
|
490,076
|
|
*
|
Filed herewith.
|
Date: May 6, 2020
|
|
OPKO Health, Inc.
|
|
|
|
|
|
/s/ Adam Logal
|
|
|
Adam Logal
|
|
|
Senior Vice President, Chief Financial Officer,
|
|
|
Chief Accounting Officer and Treasurer
|
1 Year Opko Health Chart |
1 Month Opko Health Chart |
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