Quarterly ResultApr 28, 2026, 04:12 PM
OPK Q1 Revenue $124.2M; Net Loss $54.8M; Initiates 2 Phase 1 Trials
AI Summary
OPKO Health reported Q1 2026 total revenue of $124.2 million, a decrease from $149.9 million in Q1 2025, primarily due to the sale of BioReference assets. The company significantly narrowed its operating loss to $51.0 million from $67.2 million and net loss to $54.8 million ($0.07 per share) from $67.6 million ($0.10 per share) year-over-year. Key business highlights include the initiation of Phase 1 clinical trials for MDX2301 (COVID-19 prevention) and MDX2003 (B-cell lymphoma), expansion of a partnership with Entera Bio for an oral PTH tablet, and presentations of multispecific antibody data. The company also provided Q2 and full-year 2026 financial guidance.
Key Highlights
- Q1 2026 total revenue was $124.2M, down from $149.9M in Q1 2025.
- Q1 2026 net loss improved to $54.8M ($0.07/share) from $67.6M ($0.10/share) YoY.
- Initiated Phase 1 clinical trials for MDX2301 (COVID-19) and MDX2003 (B-cell lymphoma).
- Pharmaceuticals revenue increased to $38.0M from $34.8M, driven by Spanish operations and NGENLA profit share.
- Diagnostics revenue decreased to $72.2M from $102.8M, partly due to asset sale and lower reimbursement rates.
- Cash, cash equivalents, and marketable securities totaled $341.9M as of March 31, 2026.
- Repurchased $4.8M of common stock in Q1 2026, with $108.0M remaining authorized.
- Q2 2026 total revenue guidance is $127M-$132M; full-year guidance is $530M-$560M.