OPKO Health Increases Share Repurchase Program by $100 Million

OPKO Health, Inc. has recently announced a substantial increase of $100 million to their existing common stock repurchase program, which now stands at an aggregate capacity of $200 million. Since the program was authorized back in July 2024, around $41 million worth of OPKO’s common stock has been repurchased.

Phillip Frost, M.D., who serves as the Chairman and Chief Executive Officer of OPKO, expressed confidence in the undervaluation of OPKO’s shares, citing them as an appealing investment opportunity. This move to buy back shares is in line with the company’s strategy to progress their pipeline in the clinic and streamline their diagnostic sector towards profitability. The Board of Directors’ decision to empower the $200 million repurchase initiative is backed by OPKO’s solid financial standing, allowing the company to continue funding their projects while simultaneously returning capital to shareholders.

OPKO has signaled its intention to execute share repurchases through various means, such as open market purchases, block trades, privately negotiated transactions, accelerated share repurchase transactions, and more, all in accordance with related securities laws. The company emphasizes that the timing and quantity of share repurchases will hinge on market conditions, investment opportunities, and other pertinent factors.

Notably, this repurchase program is flexible, with no specific obligation to repurchase a set number of shares within a defined timeframe. Thus, OPKO retains the right to modify, suspend, or terminate the program at their discretion. Presently, OPKO plans to finance the initiative utilizing existing cash reserves, along with anticipated future cash flows. As of late February 2025, the company had approximately 671.6 million shares outstanding. The expanded $200 million stock repurchase program, combined with the previous authorization, represents roughly 14% of shares outstanding based on the current stock price.

OPKO Health is an international biopharmaceutical and diagnostics entity that aims to secure leading positions in swiftly expanding markets by capitalizing on its innovation, development, and commercialization capabilities, as well as its proprietary technologies. For additional details about OPKO Health, visit their official website.

It is crucial to note that forward-looking statements included in the press release are subject to changes and uncertainties. These statements reflect the current expectations of management and could be impacted by various factors, potentially leading to divergences between anticipated and actual activities or outcomes. Risks and uncertainties are further outlined in OPKO’s filings with the Securities and Exchange Commission, emphasizing the cautionary nature of these forward-looking statements.