OPKO Health ( NASDAQ:OPK – Get Free Report ) posted its quarterly earnings data on Wednesday. The biotechnology company reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07), FiscalAI reports. OPKO Health had a negative net margin of 12.40% and a negative return on equity of 5.88%. The firm had revenue of $130.83 million during the quarter, compared to analyst estimates of $136.62 million. During the same quarter in the previous year, the business posted $0.03 EPS. OPKO Health’s revenue was down 56.9% on a year-over-year basis.
Here are the key takeaways from OPKO Health’s conference call:
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OPKO agreed to sell substantially all of BioReference’s remaining operations to Labcorp for about $722 million in cash , with potential 4Kscore royalties of up to $150 million over 10 years. The deal, which remains subject to customary closing conditions, would complete OPKO’s exit from diagnostics and refocus it on biotech and global products.
Continuing-operations revenue rose 16% to $65.4 million year over year, led by OPKO Iberoamerica, RAYALDEE and mazdutide royalties. Global products reported $6 million of operating income, versus a $1.2 mil...