OPKO Health Reports First Quarter 2018 Financial Results

OPKO Health (NASDAQ:OPK) reports financial results and business highlights for the three months ended March 31, 2018.

As quoted in the press release:

“We are pleased to report steady sequential-quarter growth for RAYALDEE and 4Kscore, as well as improvement in our lab business from Q4 of last year,” said Phillip Frost, Chairman and Chief Executive Officer of OPKO Health.  “The improved first quarter results were in line with our expectations, starting 2018 positively coming off challenging fourth quarter 2017 results.  These factors, taken together, reflect progress across the breadth of our commercial and laboratory services.”

• RAYALDEE total prescriptions reported by IMS for Q1 2018 increased 730% compared with Q1 2017 and 38% compared with Q4 2017:  As of May 1, 2018, more than 79% of patients had access to RAYALDEE under their insurance plans.
• 4Kscore utilization in Q1 2018 increased 13% compared with Q1 2017:  Five abstracts of studies further demonstrating the utility of the 4Kscore test in the management of prostate cancer are to be presented at the American Urological Association meeting May 18-21.
• Appointed Geoff Monk as General Manager, BioReference Laboratories:  Mr. Monk is well prepared to lead BRL with more than 20 years of management experience in the diagnostic laboratory business.   Mr. Monk was previously Managing Director of the New York and New Jersey unit of Quest Diagnostics.

Click here to read the full press release.