OPKO Health Announces Q1 2025 Business Highlights and Financial Results

OPKO Health, Inc. recently reported business highlights and financial results for the first quarter of 2025. The company achieved significant milestones during this period.

One of the key accomplishments was the signing of a definitive agreement with Labcorp to sell the oncology and related clinical testing assets of BioReference Health. This agreement involves the sale of BioReference’s laboratory testing businesses focused on oncology and oncology-related clinical testing services for up to $225 million. The transaction includes $192.5 million payable at closing and up to $32.5 million in an earnout based on performance. While BioReference will retain urology diagnostic services nationwide, as well as its core clinical testing operations in New York and New Jersey, this transaction is expected to close in the second half of 2025.

Additionally, OPKO Health entered into a collaboration agreement with Entera Bio to advance an oral GLP-1/glucagon tablet candidate into the clinic to address obesity and metabolic disorders. This program combines OPKO’s long-acting oxyntomodulin analog (OPK-88006) with Entera’s N-Tab™ technology. Under this agreement, OPKO and Entera will hold 60% and 40% ownership interests, respectively, in the orally administered product, and share responsibility for development costs accordingly.

Furthermore, Merck has commenced enrollment and dosing in the Phase 1 Epstein-Barr virus (EBV) vaccine trial. This study, conducted in collaboration with ModeX, aims to evaluate the safety and tolerability of an investigational vaccine based on ModeX’s ferritin nanoparticle vaccine platform in up to 200 healthy adults. The initiation of this trial prompted a milestone payment to ModeX.

Meanwhile, ModeX has been making progress in its immuno-oncology and immunology portfolio. The MDX2001 CMet-Trop2/CD3-CD28 tetraspecific antibody has advanced to the fourth dose level in its Phase 1 clinical trial, with Phase 1B studies in selected solid tumors anticipated in early 2026. Additionally, the MDX2003 tetraspecific antibody for lymphoma/leukemia and the MDX2004 immune rejuvenator are slated to begin human trials in late 2025/early 2026. The development of multispecific antibodies for immune-deficient patients at risk of COVID and influenza A and B is also progressing, with support from the Biomedical Advanced Research and Development Authority (BARDA).

To strengthen its financial position, OPKO’s Board of Directors approved an additional $100 million for its common stock repurchase program, bringing the total capacity to $200 million. As of now, approximately $40.2 million of OPKO’s common stock has been repurchased under the existing program.

In conclusion, OPKO Health, Inc. has made significant strides in its various collaborations, clinical trials, and financial initiatives, positioning the company for continued growth and success in the future.