BioReference Health Streamlining and Sale
OPKO Health is selling its oncology and clinical testing business to Labcorp for $225 million, with $192.5 million payable at closing. This transaction is expected to improve BioReference's financial profile and focus on core testing business.
Pharmaceutical Pipeline Progress
ModeX has 2 programs in Phase I clinical trials with 3 more expected to enter the clinic by early 2026. Phase I data from the EBV vaccine partnered with Merck is a significant catalyst for the pipeline.
4Kscore Test FDA Approval
The FDA approved a supplemental application for the 4Kscore test, allowing its performance without digital rectal examination information, potentially increasing its user base.
Diagnostics Segment Cost Savings
BioReference Health achieved annualized cost savings of approximately $19 million due to headcount reduction and footprint consolidation, with further savings expected post-oncology transaction close.
Latin American and Irish Business Performance
OPKO's Latin American and Irish units continued to perform well with increasing revenue and expanding margins despite foreign currency headwinds.