NASDAQ$OPK
OPKO Health Inc · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
OPKO Health's third quarter results for 2020 showed increased revenues and a return to profitability, driven by significant growth in COVID-19 testing and pharmaceutical product sales.
OPKO Health reported a net income of $23.7 million for the third quarter of 2020, a significant turnaround from the net loss of $62.0 million in the same period of 2019. Consolidated revenues increased to $428.1 million, compared to $228.8 million in the prior year, primarily driven by increased COVID-19 testing volumes and pharmaceutical product sales.
- BioReference Laboratories' COVID-19 PCR testing volume increased by 61% compared to the second quarter of 2020, processing approximately 3.5 million tests.
- Positive Phase 3 topline results were reported for somatrogon from a crossover pediatric study.
- RAYALDEE prescriptions increased by 13% compared to the third quarter of 2019, with total prescriptions reaching approximately 16,700.
- GeneDx entered into an agreement with Pediatrix Medical Group to offer neonatal genomic services.
Headline financials
Revenue & EPS history
OPKO Health · Revenue · Quarterly
$428M
Revenue by segment
OPKO Health · $398M total across 2 segments · Q4 2021
- Services$363M—91.1%
- Products$35.3M—8.9%
Forward guidance
Pfizer remains on schedule with respect to its regulatory submissions for marketing approval of somatrogon for children with growth hormone deficiency in the U.S. in the fourth quarter of this year and in Europe and Japan in the first half of 2021.
Tailwinds
- Somatrogon global regulatory submissions are on schedule.
- Marketing authorizations for RAYALDEE have been received in seven European countries.
- A Phase 2 clinical trial with RAYALDEE has been initiated as a treatment for mild to moderate COVID-19.
- GeneDx has entered into an agreement with Pediatrix Medical Group to offer neonatal genomic services.
- BioReference Laboratories launched a best-in-class next-generation sequencing assay.
Headwinds
- Demand for RAYALDEE was impacted by challenges in onboarding new patients because of the COVID-19 pandemic.
- Market authorizations from Spain, Portugal, Italy and Switzerland for RAYALDEE are still pending.
- Lower clinical and genomic test reimbursement affected revenue from services.
- The company faces risks related to the ongoing effects of the COVID-19 pandemic.
- There are risks inherent in funding, developing and obtaining regulatory approvals of new products and treatments.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2020
-0.7%
Avg return
Earnings day
+0.3%
Avg return
5 days after
-0.2%
Avg return
30 days after
44%
27 / 61 earnings
Positive
+26.8%
Q1 2018
Best reaction
-17.7%
Q3 2017
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.8% | -8.3% | +19.2% | |
| Q4 2025 | +2.5% | +0.0% | -6.7% | |
| Q3 2025 | -2.9% | -4.3% | -2.9% | |
| Q1 2025 | -2.2% | -7.2% | -1.4% | |
| Q4 2024 | +6.7% | +19.0% | +4.3% | |
| Q3 2024 | +3.4% | +9.5% | +8.2% | |
| Q2 2024 | +6.7% | +11.9% | +16.4% | |
| Q1 2024 | -5.3% | -3.0% | +1.5% | |
| Q4 2023 | -1.1% | -1.0% | +20.0% | |
| Q3 2023 | -0.7% | -6.7% | +18.5% | |
| Q2 2023 | +13.1% | +6.8% | +2.8% | |
| Q1 2023 | +15.0% | +26.5% | -1.4% | |
| Q4 2022 | +0.0% | +7.5% | +22.6% | |
| Q3 2022 | -14.8% | -9.3% | -25.8% | |
| Q2 2022 | -6.6% | +2.9% | -12.7% | |
| Q1 2022 | +11.8% | +15.6% | +8.4% | |
| Q4 2021 | +7.4% | +3.7% | +17.8% | |
| Q3 2021 | +5.9% | +16.2% | +15.4% | |
| Q2 2021 | -11.6% | -7.2% | -0.8% | |
| Q1 2021 | -3.7% | -4.2% | -10.5% | |
| Q4 2020 | -13.6% | -18.0% | -12.9% | |
| Q3 2020 | -12.0% | -11.0% | +3.3% | |
| Q2 2020 | -11.1% | -7.4% | -42.3% | |
| Q1 2020 | -15.2% | +3.9% | +2.2% | |
| Q4 2019 | +3.6% | +12.2% | +0.7% | |
| Q3 2019 | -2.0% | -2.6% | +5.3% | |
| Q2 2019 | -2.1% | -6.2% | -4.6% | |
| Q1 2019 | -16.1% | -14.9% | -22.1% | |
| Q4 2018 | -9.9% | -5.7% | -7.8% | |
| Q3 2018 | +6.7% | -7.4% | -6.0% | |
| Q2 2018 | -0.4% | -1.6% | +1.5% | |
| Q1 2018 | +26.8% | +37.8% | +23.5% | |
| Q4 2017 | -0.6% | +0.9% | -6.5% | |
| Q3 2017 | -17.7% | -20.1% | -20.2% | |
| Q2 2017 | +1.7% | -1.3% | -1.6% | |
| Q1 2017 | -3.4% | -0.8% | -13.7% | |
| Q4 2016 | -11.5% | -9.3% | -4.6% | |
| Q3 2016 | -6.6% | -3.4% | +11.8% | |
| Q2 2016 | +0.3% | -0.5% | -5.1% | |
| Q1 2016 | +6.7% | — | — | |
| Q4 2015 | +0.4% | — | — | |
| Q3 2015 | +7.6% | — | — | |
| Q2 2015 | -13.7% | — | — | |
| Q1 2015 | +4.8% | — | — | |
| Q4 2014 | -2.7% | — | — | |
| Q3 2014 | +2.5% | — | — | |
| Q2 2014 | -4.0% | — | — | |
| Q1 2014 | +8.4% | — | — | |
| Q4 2013 | -0.6% | — | — | |
| Q3 2013 | -1.4% | — | — | |
| Q2 2013 | +3.7% | — | — | |
| Q1 2013 | +3.4% | — | — | |
| Q4 2011 | -4.0% | — | — | |
| Q1 2011 | +1.3% | — | — | |
| Q1 2012 | +2.7% | — | — | |
| Q4 2009 | -2.6% | — | — | |
| Q3 2011 | -2.3% | — | — | |
| Q2 2011 | -3.3% | — | — | |
| Q4 2010 | -3.3% | — | — | |
| Q3 2010 | +0.7% | — | — | |
| Q1 2010 | +9.1% | — | — |
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