OPKO Health Reports Fourth Quarter 2025 Business Highlights and Financial Results

Rhea-AI Summary

OPKO Health (NASDAQ: OPK) reported Q4 2025 results and 2026 guidance on Feb 26, 2026. Consolidated Q4 revenues were $148.5M vs $183.6M year-ago; Q4 net loss was $31.3M (‑$0.04 per share). Cash and equivalents were $369.1M at year-end. Key pipeline and partnerships: Regeneron multispecific collaboration (>$1B potential, >$200M program milestones), Merck EBV vaccine Phase 1 completed, BARDA-supported COVID antibody Phase 1 planned Q2 2026.

Positive

• Regeneron deal with >$200M milestones per program
• Cash balance of $369.1M at Dec 31, 2025
• 2026 revenue guidance raised to $530M–$560M (full year high)

Negative

• Consolidated Q4 revenue declined 19% to $148.5M from $183.6M
• Q4 net loss of $31.3M versus prior-year net income
• Diagnostics services revenue fell to $71.1M after asset sales

Key Figures

Q4 2025 total revenue: $148.5 million Q4 2025 operating loss: $38.3 million Q4 2025 net loss per share: $0.04 +5 more

8 metrics

Q4 2025 total revenue $148.5 million Consolidated revenues vs. $183.6 million in Q4 2024

Q4 2025 operating loss $38.3 million Consolidated operating loss vs. $33.1 million in Q4 2024

Q4 2025 net loss per share $0.04 Net loss of $31.3 million vs. net income of $14.0 million in Q4 2024

Q4 2025 pharma product revenue $43.7 million Pharmaceuticals product revenue vs. $37.4 million in Q4 2024

Q4 2025 diagnostics services revenue $71.1 million Diagnostics services revenue vs. $103.1 million in Q4 2024

Cash and equivalents $369.1 million Cash, cash equivalents and restricted cash as of December 31, 2025

2026 total revenue guidance $530–$560 million Full‑year 2026 total revenue guidance range

Regeneron milestones per program >$200 million Potential milestone payments per program in collaboration

Market Reality Check

Price: $1.20 Vol: Volume 2,450,616 is sligh...

normal vol

$1.20 Last Close

Volume Volume 2,450,616 is slightly below the 20-day average of 2,684,097 (relative volume 0.91). normal

Technical Shares at $1.18 are trading below the 200-day MA of $1.35 and sit about 42% under the 52-week high of $2.035.

Peers on Argus

OPK was up 2.61% pre‑announcement while key diagnostics and research peers like ...

OPK was up 2.61% pre‑announcement while key diagnostics and research peers like NEOG, NEO, GRAL, CDNA and TWST showed modest single‑digit gains. With no peers in the momentum scanner and no same‑day peer news, this setup points more to company‑specific positioning around earnings than a coordinated sector move.

Previous Earnings Reports

5 past events · Latest: Oct 29 (Positive)

Same Type Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Oct 29	Q3 2025 earnings	Positive	+2.1%	Profitable quarter aided by Labcorp oncology asset sale and Regeneron deal.
Jul 31	Q2 2025 earnings	Negative	-7.0%	Revenues down and large net loss including non‑recurring note exchange expense.
Apr 30	Q1 2025 earnings	Neutral	-2.2%	Revenues declined but net loss improved; asset sale and new partnerships announced.
Feb 27	Q4 2024 earnings	Positive	+6.8%	Return to net income, higher revenue and additional BARDA funding and buybacks.
Nov 07	Q3 2024 earnings	Positive	+4.8%	Profitable quarter with BioReference asset sale and new financing plus repurchases.

Pattern Detected

Earnings releases have produced mixed but generally moderate moves, with positive quarters and strategic transactions tending to see upside and weaker quarters seeing downside.

Recent Company History

Over the last five earnings cycles from Q3 2024 through Q3 2025, OPKO has alternated between profitability driven by asset sales and periods of net loss. Revenue has trended in the $149.9M–$183.6M range, while transactions like BioReference asset sales and collaborations with Regeneron and Entera Bio reshaped the business mix. Cash balances have remained substantial, with figures such as $431.9M, $449.7M, $285.4M and $428.9M highlighted. Today’s Q4 2025 report extends this pattern with additional collaboration milestones, pipeline updates and new 2026 guidance.

Historical Comparison

+0.9% avg move · In the past five earnings releases, OPK’s average next‑day move was about 0.9%, with upside around s...

earnings

+0.9%

Average Historical Move earnings

In the past five earnings releases, OPK’s average next‑day move was about 0.9%, with upside around stronger quarters and asset sales and downside around larger losses.

Earnings updates from Q3 2024 through Q3 2025 show OPKO using asset sales, partnerships and cost actions to offset revenue pressure and losses while maintaining substantial cash balances.

Market Pulse Summary

This announcement combines Q4 2025 results, a rich ModeX pipeline update and detailed 2026 guidance....

Analysis

This announcement combines Q4 2025 results, a rich ModeX pipeline update and detailed 2026 guidance. Consolidated revenues of $148.5 million declined year over year, and the quarter showed a net loss of $31.3 million, while cash stood at $369.1 million. New collaborations and trial milestones, including the Regeneron partnership and multiple early‑stage oncology assets, expand optionality. Investors may watch execution versus the $530–$560 million 2026 revenue outlook and the evolving diagnostics mix.

Key Terms

phase 1, phase 1/2a, tetraspecific, trispecific, +3 more

7 terms

phase 1 medical

"Merck completed the Phase 1 Epstein-Barr virus vaccine trial (NCT06655324)."

Phase 1 is the first stage of testing a new drug or medical treatment in people, focused primarily on safety, how the body handles the product, and finding a tolerated dose. Think of it as a short, tightly controlled experiment with a small group to check for dangerous side effects before wider testing; for investors it is an early milestone that reduces some uncertainty but still carries high risk and potential for both big value changes and setbacks.

phase 1/2a medical

"The ongoing Phase 1/2a study (NCT07110584) is designed to evaluate the safety..."

Phase 1/2a is an early stage in testing new medicines or treatments, combining two steps into one process. It helps researchers quickly assess whether a treatment is safe and shows signs of working, while also gathering initial information on the best dosage. For investors, this stage indicates how close a potential new therapy is to becoming available and its initial safety profile.

tetraspecific medical

"MDX2003, a novel tetraspecific T cell engager-expander targeting CD19xCD20xCD3xCD28..."

A tetraspecific biologic is an engineered therapeutic protein, often an antibody, designed to attach to four different molecular targets at once. Think of it like a Swiss Army knife that can engage multiple parts of a disease process simultaneously; for investors this means potential for greater effectiveness or novel treatment approaches but also higher technical complexity, development risk, and manufacturing cost that can affect valuation and timelines.

trispecific medical

"MDX2003, a first-in-class trispecific T-cell engager-expander for the treatment..."

A trispecific drug is a single engineered molecule designed to attach to three different biological targets at once, like a three-pronged tool that can grip multiple pieces simultaneously. For investors, trispecifics can offer greater therapeutic precision or combined effects compared with single-target drugs, potentially boosting value if successful, but they also bring higher scientific complexity, development cost and regulatory risk.

barda regulatory

"Supported by non-dilutive funding from BARDA, the clinical trial in healthy volunteers..."

The Biomedical Advanced Research and Development Authority (BARDA) is a U.S. government agency that funds and helps develop vaccines, drugs, diagnostics and other medical tools needed for large-scale public-health emergencies. It matters to investors because BARDA grants or contracts lower the financial and technical risk of bringing a product to market and can act like a reliable early customer or partner, improving a company’s credibility, funding runway and valuation.

hypoparathyroidism medical

"oral long-acting PTH tablet for patients with hypoparathyroidism."

A disorder in which small glands in the neck fail to make enough of a hormone that keeps blood calcium at the right level, causing low calcium with symptoms such as muscle cramps, tingling or fatigue. For investors, it matters because chronic, hard-to-manage conditions like this create demand for medicines, medical devices and diagnostic tests, shaping clinical trial needs, regulatory review and potential market opportunity much like a persistent mechanical problem creates ongoing demand for repairs.

sars-cov2 medical

"MDX2301, a tetravalent bispecific antibody that neutralizes all known strains of SARS-CoV2..."

SARS-CoV-2 is the virus that causes COVID-19, an infectious respiratory illness; think of it as a biological trigger that can interrupt people’s ability to work, travel, and use services. For investors, its spread and control affect consumer demand, workforce availability, healthcare costs, regulatory approvals for tests, treatments and vaccines, and broader market confidence—similar to how a major storm can disrupt supply chains and economic activity.

AI-generated analysis. Not financial advice.

Conference call begins at 4:30 p.m. Eastern time today

MIAMI, Feb. 26, 2026 (GLOBE NEWSWIRE) -- OPKO Health, Inc. (NASDAQ: OPK) (OPKO) reports business highlights and financial results for the three and 12 months ended December 31, 2025, and introduces financial guidance for the first quarter and full year 2026.

Highlights from the fourth quarter of 2025 and recent weeks include the following:

• Entered into a research collaboration with Regeneron Pharmaceuticals to develop multispecific antibodies. This new partnership leverages ModeX’s MSTAR technology platform with Regeneron’s proprietary binders to develop single molecule candidates that target multiple distinct biological pathways in several clinical indications. ModeX received an upfront payment and is entitled to potential milestone payments exceeding $200 million for each program. The overall potential value of the collaboration exceeds $1 billion if multiple products from the collaboration are successful. In addition, ModeX is eligible to receive tiered royalties on global net sales, reaching low double digits at the highest tier. Regeneron is responsible for funding all preclinical and clinical development, as well as all commercialization activities.
  
  
• Merck completed the Phase 1 Epstein-Barr virus vaccine trial (NCT06655324). This investigational vaccine candidate is being developed in collaboration with Merck. The Phase 1 trial evaluating safety and tolerability in over 200 healthy adults was completed in the fourth quarter of 2025. Additional studies are in progress to inform dose and adjuvant selection for potential Phase 2 studies.
  
  
• MDX2003, a first-in-class trispecific T-cell engager-expander for the treatment of leukemia and lymphoma, was approved for Phase 1 studies in Australia, which are expected to begin in the first half of 2026. Also, an abstract was presented at 2025 ASH Annual Meeting. In November, an abstract titled “MDX2003, a novel tetraspecific T cell engager-expander targeting CD19xCD20xCD3xCD28, demonstrates potent preclinical activity against B cell malignancies” was presented at the American Society of Hematology’s 67^th ASH Annual Meeting and Exposition. In an animal model, MDX2003 prevented further tumor growth at low doses and was well-tolerated with low levels of cytokines in the blood and no observable toxicity.
  
  
• Abstract for MDX2004, a first-in-class trispecific antibody-fusion protein immune rejuvenator, was presented at SITC 2025. In November, an abstract titled “MDX2004, a novel immune rejuvenator targeting CD3, CD28, and 4–1BB, augments tumor immunity in preclinical animal models” was presented at SITC 2025, the annual meeting of the Society for Immunotherapy of Cancer. The ongoing Phase 1/2a study (NCT07110584) is designed to evaluate the safety, tolerability and biologic activity of MDX2004 as an immunotherapy for advanced cancers.
  
  
• Abstract for MDX2001 cMet-Trop2/CD3-CD28, a first-in-class tetraspecific T-cell engager, was presented at ESMO 2025. In October, an abstract titled “A phase I/IIa, multicenter, first-in-human, open-label clinical trial evaluating MDX2001, a tetraspecific T cell engager-expander in patients with advanced solid tumors” was presented at ESMO Congress 2025, the annual meeting of the European Society for Medical Oncology. The MDX2001 cMet-Trop2/CD3-CD28 tetraspecific antibody has advanced to the fifth dose level in its Phase 1 clinical trial, with Phase 1b studies in select solid tumors expected to begin in the first half of 2026.
  
  
• FDA permission to proceed to Phase 1 granted to MDX2301, a tetravalent bispecific antibody that neutralizes all known strains of SARS-CoV2, for the prevention and treatment of COVID-19 infection. Supported by non-dilutive funding from BARDA, the clinical trial in healthy volunteers is scheduled to begin in the second quarter of 2026, with pharmacokinetic and immunogenicity data expected later this year.
  
  
• Expanded partnership with Entera Bio to advance first-in-class oral long-acting PTH tablet for patients with hypoparathyroidism. This third program under the collaboration combines OPKO's proprietary long-acting PTH variants with Entera's proprietary N-Tab® technology. Following favorable pharmacodynamic and pharmacokinetic data reported in December 2025, the companies have jointly decided to accelerate development and expect to file an investigational new drug (IND) application with the U.S. Food and Drug Administration (FDA) in late 2026. OPKO and Entera Bio each hold a 50% pro-rata ownership interest in the long-acting PTH hypoparathyroidism program and each is responsible for 50% of the program's development costs.
  
  

Fourth Quarter Financial Results

• Consolidated: Consolidated total revenues for the fourth quarter of 2025 were $148.5 million compared with $183.6 million for the 2024 period, with the decrease principally resulting from the sale of certain BioReference assets in 2025. Operating loss for the fourth quarter of 2025 was $38.3 million compared with operating loss of $33.1 million for the 2024 quarter. Net loss for the fourth quarter of 2025 was $31.3 million, or $0.04 per share, compared with net income of $14.0 million, or $0.01 per diluted share, for the 2024 quarter. Net income for the fourth quarter of 2024 included a realized gain of $54.1 million from the sale of shares of GeneDx, as well as non-cash other income of $21.4 million. 
  

Pharmaceuticals: Revenue from products in the fourth quarter of 2025 was $43.7 million compared with $37.4 million in the fourth quarter of 2024, driven by a positive net foreign exchange impact of $4.0 million and by higher sales volumes in our international operations. Revenue from Rayaldee was $8.8 million compared with $9.1 million in the comparable prior-year quarter. Revenue from the transfer of intellectual property and other was $33.7 million in the fourth quarter of 2025 compared with $43.1 million in the 2024 period. Gross profit share payments for NGENLA, which totaled $12.5 million in the 2025 period compared with $9.6 million in the 2024 period, reflect the global commercial progress by Pfizer. In addition, the fourth quarter of 2025 included $4.3 million in royalty revenue from Eli Lilly following the commercial launch of mazdutide in China by their partner Innovent Biologics and a $7.0 million upfront payment from Regeneron. The comparable period of 2024 included a $12.5 million milestone payment from Merck, as well as a $7.0 million decrease in commercial milestones at our Eirgen business and a $4.1 million decrease in revenue from our contract with BARDA. Total costs and expenses increased to $88.0 million in the fourth quarter of 2025 from $82.6 million in the prior-year period, primarily due to higher cost of revenue related to higher sales volume, higher research and development expenses driven by advancements in early-stage programs and employee-related expenses reflecting an increase in headcount to support ongoing clinical activities. Operating loss was $10.7 million in the fourth quarter of 2025, which included $18.3 million in depreciation and amortization expense, compared with operating loss of $2.1 million in the fourth quarter of 2024, which included $18.1 million of depreciation and amortization expense.

• Diagnostics: Revenue from services in the fourth quarter of 2025 was $71.1 million compared with $103.1 million in the prior-year period. The decrease was principally a result of the sale of certain BioReference assets in 2025 and the resulting decline in clinical test volume, and lower clinical test reimbursement rates, partially offset by increased demand and higher average reimbursement for the 4Kscore test, resulting in a 16% increase in revenue to $7.0 million in the 2025 quarter compared with $6.0 million in revenue in the 2024 quarter. Total costs and expenses were $89.4 million in the fourth quarter of 2025 compared with $124.8 million in the fourth quarter of 2024. The decrease was primarily attributable to the assets sold and to continued cost-reduction initiatives at BioReference. Operating loss was $18.3 million in the fourth quarter of 2025, which included $4.1 million of depreciation and amortization expense, compared with operating loss of $21.7 million in the 2024 period, which included $6.0 million of depreciation and amortization expense. The fourth quarter of 2025 was impacted by non-recurring transition-related adjustments of $5.8 million, primarily from severance, asset write-offs, third-party revenue adjustments, and capital tax expense. The fourth quarter of 2024 included revenue of $26.3 million and costs and expenses of $32.9 million from the oncology assets that were sold to Labcorp on September 15, 2025.
  
  
• Cash, cash equivalents, marketable securities and restricted cash: Cash, cash equivalents and restricted cash were $369.1 million as of December 31, 2025. As of December 31, 2025, approximately $87.3 million of OPKO’s common stock had been repurchased, including $13.5 million in the fourth quarter of 2025, under the program since its authorization in July 2024. Approximately $112.7 million remained authorized and available for future repurchases.
  
  
• 2026 Financial Guidance: The table below reflects financial guidance for the first quarter and full year 2026 (in millions):
  
  

	For the three months ended March 31, 2026						For the year ended December 31, 2026
	Low			High			Low			High
Revenue
Services revenue	$	71		$	75		$	300		$	312
Product revenue		38			45			160			170
IP and other revenue		15			20			70			80
Total revenues		125			140			530			560
Included in revenue
Pfizer profit share		5			6			34			37
BARDA contract		7			9			18			22
Total costs and expenses		170			180			725			750
R&D included in costs and expenses		30			32			125			135

Conference Call and Webcast Information

OPKO’s senior management will provide a business update, discuss fourth quarter financial results, provide financial guidance and answer questions during a conference call and live audio webcast today beginning at 4:30 p.m. Eastern time. Participants are encouraged to pre-register for the conference call here. Callers who pre-register will receive a unique PIN to gain immediate access to the call and bypass the live operator. Participants may register at any time, including up to and after the call start time. Those unable to pre-register may participate by dialing 833-630-0584 (U.S.) or 412-317-1815 (International). A webcast of the call can also be accessed at OPKO’s Investor Relations page and here.

A telephone replay will be available until March 5, 2026, by dialing 855-669-9658 (U.S.) or 412-317-0088 (International) and providing the passcode 2367034. A webcast replay will be available beginning approximately one hour after the completion of the live conference call here.

About OPKO Health

OPKO is a multinational biopharmaceutical and diagnostics company that seeks to establish industry-leading positions in large, rapidly growing markets by leveraging its discovery, development and commercialization expertise, and novel and proprietary technologies. For more information, visit www.opko.com.  

Cautionary Statement Regarding Forward Looking Statements

This press release contains "forward-looking statements," as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning, including statements regarding expected financial performance and expectations regarding the market for and sales of our products, whether the collaboration with Regeneron will be successful and whether we will receive milestone payments and/or royalties as a result of that collaboration, whether the remaining BioReference business will become profitable, whether we will be able to submit Investigational New Drug applications for the oral and subcutaneous forms of GLP-1/glucagon and GLP-2 tablet and the timing of those submissions, whether we will have a successful collaboration with Entera, whether our product development efforts will be successful and whether the expected benefits of our products will be realized, including whether the data for MDX2004 will be positive, whether preclinical data will be indicative of clinical data should any of our preclinical programs progress into clinical development, whether the trial for MDX2001 and EBV will continue to progress and whether the data will be positive for all trials, including the EBV Vaccine trial, whether we will receive additional funding from BARDA, whether the relationship with our commercial and strategic partners will be successful, whether our commercial and strategic partners will be able to commercialize our products and successfully utilize our technologies, whether our partner will be able to continue to successfully commercialize NGENLA and the NGENLA profits will provide adequate upside, whether we will continue to repurchase shares under a buyback program, our ability to market and sell any of our products in development, whether we will continue to successfully advance products in our pipeline and whether they can be commercialized, as well as other non-historical statements about our expectations, beliefs or intentions regarding our business, technologies and products, financial condition, strategies or prospects. Many factors could cause our actual activities or results to differ materially from the activities and results anticipated in forward-looking statements. These factors include those described in our Annual Reports on Form 10-K filed and to be filed with the Securities and Exchange Commission and under the heading “Risk Factors” in our other filings with the Securities and Exchange Commission, as well as the continuation and success of our relationship with our commercial partners, liquidity issues and the risks inherent in funding, developing and obtaining regulatory approvals of new, commercially-viable and competitive products and treatments. In addition, forward-looking statements may also be adversely affected by general market factors, competitive product development, product availability, federal and state regulations and legislation, the regulatory process for new products and indications, manufacturing issues that may arise, patent positions and litigation, among other factors. The forward-looking statements contained in this press release speak only as of the date the statements were made, and we do not undertake any obligation to update forward-looking statements. We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA.

Contacts:
Alliance Advisors IR
Yvonne Briggs, 310-691-7100
ybriggs@allianceadvisors.com
or
Bruce Voss, 310-691-7100
bvoss@allianceadvisors.com

—Tables to Follow—

OPKO Health, Inc. and Subsidiaries
Summary of Revenues
(in millions)
Unaudited
	For the three months ended December 31,						For the twelve months ended December 31,
		2025			2024			2025			2024
Diagnostics revenue
Core diagnostics	$	64.1		$	70.8		$	273.5		$	274.6
4Kscore Test		7.0			6.0			27.1			23.9
Divested revenue		-			26.3			69.7			182.2
Service revenue subtotal		71.1			103.1			370.3			480.7
Pharmaceutical revenue
International operations		34.7			28.3			127.1			126.3
Rayaldee		8.8			9.1			29.8			28.8
Revenue from products subtotal		43.7			37.4			156.9			155.1
Pfizer milestone, royalty and profit     sharing, and cost sharing		12.5			9.6			31.9			30.0
BARDA		6.9			11.0			28.5			23.8
Merck		-			12.5			-			12.5
Regeneron		7.2			-			7.2			-
Other royalties and milestones		7.1			10.0			12.1			11.0
Revenue from transfer of intellectual     property and other subtotal		33.7			43.1			79.7			77.3
Total pharmaceutical revenue		77.4			80.5			236.6			232.4
Total revenues	$	148.5		$	183.6		$	606.9		$	713.1

OPKO Health, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(in millions)
Unaudited
	As of
	December 31, 2025				December 31, 2024
Assets:
Cash, cash equivalents, and current restricted cash	$	369.1			$	431.9
Accounts receivable, net		90.3				118.0
Inventory, net		65.8				56.8
Other current assets		56.7				55.4
Total current assets		581.9				662.1
In-process research and development and goodwill		679.3				724.3
Other assets		670.7				813.8
Total Assets	$	1,931.9			$	2,200.2
Liabilities and Equity:
Accounts payable	$	41.1			$	47.1
Accrued expenses		84.4				118.4
Current portion of convertible notes		0.0				0.2
Other current liabilities		21.1				27.4
Total current liabilities		146.6				193.1
Long-term portion of convertible notes		85.0				173.6
Senior secured notes		246.4				245.6
Deferred tax liabilities, net		126.3				140.8
Other long-term liabilities, principally leases, and lines of credit		59.6				81.7
Total Liabilities		663.9				834.8
Equity		1,268.0				1,365.4
Total Liabilities and Equity	$	1,931.9			$	2,200.2

OPKO Health, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations
(in millions, except share and per share data)
Unaudited
	For the three months ended December 31,								For the twelve months ended December 31,
		2025				2024				2025				2024
Revenues
Revenue from services	$	71.1			$	103.1			$	370.3			$	480.7
Revenue from products		43.7				37.4				156.9				155.1
Revenue from transfer of intellectual property and other		33.7				43.1				79.7				77.3
Total revenues		148.5				183.6				606.9				713.1
Costs and expenses
Cost of service revenues		60.0				76.3				307.4				402.1
Cost of product revenues		24.4				22.7				93.6				92.5
Selling, general, and administrative		50.5				67.0				223.0				304.2
Research and development		32.8				30.4				124.0				105.2
Amortization of intangible assets		19.1				20.3				77.9				82.7
Gain on sale of assets		0.0				0.0				(101.6	)			(121.5	)
Total costs and expenses		186.8				216.7				724.3				865.2
Operating loss		(38.3	)			(33.1	)			(117.4	)			(152.1	)
Other (expense) income, net		(8.6	)			68.0				(124.0	)			141.7
(Loss) income before income taxes and investment losses		(46.9	)			34.9				(241.4	)			(10.4	)
Income tax benefit (provision)		15.7				(20.9	)			15.7				(42.8	)
(Loss) income before investment losses		(31.2	)			14.0				(225.7	)			(53.2	)
Loss from investments in investees		(0.1	)			(0.0	)			(0.0	)			(0.0	)
Net (loss) income	$	(31.3	)		$	14.0			$	(225.7	)		$	(53.2	)
(loss) income per share, basic	$	(0.04	)		$	0.02			$	(0.30	)		$	(0.08	)
(loss) income per share, diluted	$	(0.04	)		$	0.01			$	(0.30	)		$	(0.08	)
Weighted average common shares outstanding, basic		765,519,363				676,788,895				751,132,891				694,019,535
Weighted average common shares outstanding, diluted		765,519,363				951,837,287				751,132,891				594,019,535

FAQ

What did OPKO (OPK) report for Q4 2025 revenue and net income on Feb 26, 2026?

OPKO reported $148.5 million in consolidated Q4 2025 revenue and a net loss of $31.3 million. According to the company, revenue declined principally due to the sale of certain BioReference assets and lower test volumes.

What is the value and structure of OPKO's collaboration with Regeneron announced in Q4 2025?

OPKO's ModeX partnership with Regeneron carries potential milestones exceeding $200 million per program and total collaboration value over $1 billion. According to the company, Regeneron funds development and OPKO may earn tiered global royalties.

How much cash did OPKO (OPK) have at year-end 2025 and what share buybacks remain?

OPKO held $369.1 million in cash, cash equivalents and restricted cash as of Dec 31, 2025. According to the company, about $87.3 million was repurchased and $112.7 million remained authorized for buybacks.

What 2026 revenue and expense guidance did OPKO provide for investors?

OPKO provided full-year 2026 revenue guidance of $530M–$560M and total costs and expenses of $725M–$750M. According to the company, guidance reflects service, product and IP revenue assumptions and planned R&D investment.

Which OPKO clinical programs reached milestones or upcoming trials in early 2026?

MDX2003 cleared for Phase 1 in Australia and a BARDA‑supported MDX2301 Phase 1 is planned for Q2 2026. According to the company, Merck completed a >200‑subject EBV vaccine Phase 1 in Q4 2025, with further studies ongoing.