Option Care Health Inc - OPCH STOCK NEWS

Option Care Health (NASDAQ: OPCH) has been chosen to join the limited distribution network for VILTEPSO™ (viltolarsen), an innovative treatment for Duchenne Muscular Dystrophy (DMD). This therapy, the first exon 53 skipping treatment approved by the FDA, shows promise for increasing dystrophin levels in young patients. Option Care Health will provide home and ambulatory infusion services for VILTEPSO across its facilities in the U.S. The company is recognized for its quality clinical care and commitment to enhancing patient outcomes.

Option Care Health, the largest independent provider of home and alternate site infusion services in the U.S., will participate in two upcoming virtual investor conferences. CFO Mike Shapiro will present at the Baird 2020 Global Healthcare Conference on September 10, 2020, at 3:10 p.m. EDT. CEO John Rademacher and CFO Mike Shapiro will present at the Morgan Stanley 18th Annual Healthcare Conference on September 14, 2020, at 9:45 a.m. EDT. Live audio webcasts will be available on their investor relations website.

Option Care Health, the largest independent provider of home and alternate site infusion services in the U.S., will present at the 40^th Annual Canaccord Genuity Virtual Growth Conference on August 12, 2020, at 10:00 a.m. EST. CEO John Rademacher and CFO Mike Shapiro will lead the presentation. A live audio webcast and a replay will be available at here. With over 5,000 teammates across the nation, Option Care Health focuses on enhancing care standards for patients with various conditions.

Option Care Health announced an underwritten offering of 18,000,000 shares of its common stock at $12.50 per share. The offering includes 10,000,000 shares from the Company and 8,000,000 shares from a Madison Dearborn Partners affiliate. Underwriters have a 30-day option for 2,700,000 additional shares. Proceeds will partially repay senior secured second lien PIK toggle notes due 2027. Closing is expected on July 24, 2020. BofA Securities leads the offering with several firms acting as bookrunners.

Option Care Health announced a proposed underwritten offering of $350 million in common stock, involving $125 million from the Company and $225 million from Madison Dearborn Partners. Additionally, a 30-day option for underwriters to purchase up to $52.5 million is planned. The net proceeds will primarily be used to pay down senior secured second lien floating rate notes due 2027. BofA Securities leads the offering, with several other significant banks acting as bookrunners. A shelf registration statement has been filed with the SEC.

Option Care Health (Nasdaq: OPCH) announced preliminary financial results for Q2 2020, reporting a net revenue of approximately $740.8 million, a 7% increase year-over-year. However, the company incurred a net loss of $7.7 million. Adjusted EBITDA was around $54.6 million, representing 7.4% of revenue. Despite challenges from the COVID-19 pandemic, there was notable growth in chronic revenue. The company reinstated its full-year guidance, expecting $200-$210 million in Adjusted EBITDA and at least $50 million in Free Cash Flow.

Option Care Health, the largest independent provider of home and alternate site infusion services in the U.S., announced they will present at the William Blair Virtual Growth Stock Conference on June 11, 2020. CEO John Rademacher and CFO Mike Shapiro are set to speak at 8:00 a.m. CDT. A live audio webcast of the presentation will be available, along with a replay, on their investor relations website. Option Care Health employs over 5,000 teammates, including approximately 2,900 clinicians, dedicated to enhancing patient care across all 50 states.

Option Care Health (NASDAQ: OPCH) has been chosen by UroGen Pharma (NASDAQ: URGN) as a preferred national pharmacy provider for the delivery of Jelmyto™, a new cancer treatment for low-grade upper tract urothelial cancer. This first-in-class treatment combines mitomycin with a hydrogel technology for effective tumor targeting. Approved by the FDA on April 15, 2020, Jelmyto requires specialized preparation and delivery, which Option Care Health’s nationwide network of USP 800 pharmacies can provide, ensuring safety and compliance. This partnership enhances patient access to innovative therapies.

Option Care Health (Nasdaq: OPCH) reported strong financial results for Q1 2020, highlighting net revenue of $705.4 million, a 48% increase from Q1 2019. Gross profit rose to $158.0 million, representing 22.4% of net revenue. Despite a net loss of $19.9 million ($0.11 per share), the company achieved an adjusted EBITDA of $40.2 million, up 107.6%. Cash flow from operations reached $18.4 million, up 102.7%. The company has maintained cash balances of $77.2 million with no borrowings on its revolver. Future impacts of COVID-19 on referrals and costs remain uncertain.