OPKO Health reported consolidated revenue of $163.5 million for the second quarter ended June 30, 2026, with operating loss improving to $7.0 million and net loss of $8.4 million, or $0.01 per share. The company cited higher IP/other revenue, including $29.4 million recognized from shares received under an amended Nicoya agreement, and continued diagnostics and pharmaceutical operations. Cash, cash equivalents, marketable securities and restricted cash totaled $314.4 million as of June 30, 2026.

Financial Highlights

  • Total revenues: $163.5 million for Q2 2026 versus $156.8 million in Q2 2025.
  • Operating loss: $(7.0) million for Q2 2026, improved from an operating loss of $(60.0) million in Q2 2025.
  • Net loss: $(8.4) million, or $(0.01) per share, for Q2 2026 versus net loss of $(148.4) million, or $(0.19) per share, in Q2 2025.
  • Cash, cash equivalents, marketable securities and restricted cash: $314.4 million as of June 30, 2026.
  • Cash, cash equivalents, and current restricted cash on balance sheet: $300.8 million as of June 30, 2026; total assets $1,829.4 million and total liabilities $645.2 million.

Business Highlights

  • ModeX programs: Presented multispecific antibody targeted in vivo CAR T data at ASGCT; plans to enter Phase 1 studies later in 2026 or early 2027 and to begin a company-sponsored autoimmune disease Phase 1 study in late 2026 or early 2027.
  • Clinical trial initiations: Began enrollment in MDX2003 Phase 1 for relapsed/refractory B‑cell lymphoma and MDX2301 Phase 1 for COVID‑19 prevention (BARDA-funded), with MDX2301 enrollment expected to complete in Q3 2026 and early data projected for late 2026/early 2027.
  • Additional ModeX trials: MDX2001 (solid tumors targeting Trop2 and c‑Met) and MDX2004 (trispecific immune rejuvenator) continuing Phase 1 enrollment in planned geographies; initial safety, PK and immune data expected in H1 2027.
  • OPK-88006 and OPK8801001 progress: Initiated Phase 1/2a study of OPK-88006 in healthy and presumed MASH participants; OPKO Biologics presented preclinical data for long‑acting GH receptor antagonist OPK8801001 and plans to advance to clinical trials end of 2026.
  • Partnerships and commercial arrangements: Expanded agreement with Nicoya to support RAYALDEE commercialization in Greater China (OPKO received a 15% equity stake and Series A-2 Preferred Shares tranches); Entera Bio co-development programs EB612 and EB618 advanced toward first‑in‑human evaluation.

Original SEC Filing:

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