Home Equities Score Here is Opko Health Inc. (OPK) stock surged on Monday, April 26,...

Here is Opko Health Inc. (OPK) stock surged on Monday, April 26, 2021?

Opko Health Inc. (OPK) stock had a good Monday on April 26, 2021. OPK shares gained 1.17% in the normal trading session and further, they gained 1.85% in the after-hours session on Monday.

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OPK shares have surged 109.71% over the last 12 months, and they have moved up by 2.86% in the past week. Over the past three months, the stock has declined 13.94%, while over the past six months, it has added 1.17%.


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Let’s check out the recent news of Opko.

Upcoming financial results announcement

On April 22, 2021, OPKO Health, Inc said that it is going to release its financial results for the three months ended March 31, 2021, on Wednesday, April 28, 2021, after the close of the U.S. financial markets.

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COVID-19 testing agreement with MLB

On April 6, 2021, BioReference Laboratories which is an OPKO Health company signed a COVID-19 testing agreement with MLB for players and staff along with stadium employees and league staff for the 2021 Major League Baseball (MLB) season.

OPKO Health’s BioReference platform is one of the largest full-service clinical laboratories in the United States.

BioReference will provide on-site rapid PCR point-of-care COVID-19 testing to all 30 MLB teams, using Mesa Biotech’s Accula System. Testing began from April 1, 2021, coinciding with Opening Day, and will continue throughout the season.

Extending COVID-19 School Testing

On March 30, 2021, BioReference Laboratories announced to expand its COVID-19 school testing program throughout the United States.

The new Biden Administration put COVID-19 testing in schools to be of key focus in 2021to create a safer overall learning experience for students and their families.

Recent financial results

On February 18, 2021, OPKO Health, Inc announced its financial results for the three months ended December 31, 2020.

  • Opko net income was $32.3 million or $0.05 per diluted share for Q4 2020, compared with a net loss of $112.4 million or $0.18 per share for the comparable period of 2019.
  • Consolidated revenues were $494.6 million for the fourth quarter of 2020 compared with $224.3 million for the fourth quarter of 2019.
  • As of December 31, 2020, Opko cash, cash equivalents, and marketable securities were $72.2 million.

NDA submission in Japan

On January 28, 2021, OPKO Health, Inc. partner, Pfizer Japan Incsubmitted a new drug application to the Ministry of Health, Labour, and Welfare in Japan for somatrogon. The NDA submission is based on the results of the Japan Phase 3 and global Phase 3 clinical studies.

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Conclusion

Investors are hopeful for a record revenue announcement in the upcoming financial results on 28 April which could be the reason behind its surging on Monday.

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