OPKO Health stock: Labcorp deal reshapes biotech strategy

Published on 11/12/2026 at 04:29 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

OPKO Health stock is entering a sharper biopharma phase after the planned Labcorp transaction. New clinical programs add pipeline focus.

OPKO reshapes its business

OPKO agreed to sell most remaining BioReference diagnostic operations to Labcorp for 722 million US dollars in cash, plus potential earnouts.
Third-quarter continuing-operations revenue rose to 65.4 million US dollars, while the continuing-operations net loss reached 35.5 million US dollars.
The company advanced clinical programs in acromegaly, antibody therapies and metabolic disease.

OPK, US68375N1037, Illustration mit AI erstellt.

OPKO Health stock traded at 1.55 euros on Lang & Schwarz at 11:00 p.m. CET on Wednesday, November 11. The company had published its third-quarter results and announced a planned strategic shift toward biopharmaceutical operations on November 4.

Labcorp deal changes the mix

OPKO agreed to sell substantially all remaining BioReference diagnostic operations to Labcorp for 722 million US dollars in cash at closing, subject to adjustments. The agreement also provides for up to 150 million US dollars in additional cash consideration over as many as ten years, based on Labcorp sales of the 4Kscore test. Regulatory approvals and customary closing conditions remain required.

The transaction would remove substantially all remaining diagnostic operations from OPKO. The company also expanded its relationship with HealthCare Royalty through 125 million US dollars of additional senior secured royalty notes tied in part to royalty payments related to mazdutide.

Revenue rises as losses persist

In continuing operations, third-quarter revenue increased 16 percent year over year to 65.4 million US dollars, according to the OPKO Health release. Higher royalty revenue from Lilly, stronger Rayaldee sales and growth in international operations supported the increase.

The continuing-operations net loss was 35.5 million US dollars, or 0.05 US dollars per share, compared with a 33.0 million US dollar loss, or 0.04 US dollars per share, a year earlier. Innovative Biotech posted a 26.8 million US dollar operating loss as research and development spending rose to 30.4 million US dollars.

Pipeline moves into clinical testing

OPKO dosed the first participant in a Phase 1/2a trial of OPK-8801001 for acromegaly. Its ModeX unit completed enrollment in the Phase 1 MDX2301 trial, while studies of MDX2001, MDX2004 and MDX2003 continued. OPKO also continued U.S. enrollment for the Phase 1/2a study of OPK-88006, a dual GLP-1 and glucagon receptor agonist.

Management guided to 268 million to 278 million US dollars of 2026 revenue from continuing operations. It withdrew previous guidance for services revenue and total costs and expenses because the timing and effects of the Labcorp transaction remain uncertain.

OPKO's business and position

OPKO Health is a multinational biopharmaceutical company focused on therapies for serious diseases across global markets. Its research programs include multispecific antibody technologies and long-acting peptide and protein engineering, while specialty pharmaceutical operations serve several international markets. The planned BioReference sale would leave a business more concentrated on biopharmaceutical products, clinical programs and royalty streams.