OPK - Earnings call transcript Q4 2019

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Operator

Good afternoon, everyone, and welcome to the OPKO Health Fourth Quarter 2019 Financial Results Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. [Operator Instructions] And as a reminder, this conference is being recorded. I would now like to hand the conference over to your speaker today, Ms. Briggs. Yvonne

Yvonne Briggs

fourth Good for Yvonne discuss joining financial for operator. Thank with OPKO This results all XXXX. you today’s the afternoon. you, Briggs is LHA. Health’s Thank of quarter call to

materially risks statements like subject Form by other next expected be to uncertainties to call the without considered risks remind year include, during facts described as and could of management that statements results. various and the than on in within few SEC the report ended any I’d forward-looking XX-K including made report affect the Those be filed to such, XXXX company’s this forward-looking, historical limitation, statements the the company’s will days. December you will that be annual XX, for

call law, that XX, obligation today undertakes broadcast, the only this is the date circumstances call. or by contains February to date the to or Importantly, any information of after required accurate OPKO of this as time-sensitive forward-looking of as statements update reflect live events revise no XXXX. Except conference

results, update then Laboratories. Jon me President, OPKO’s financial call and the company’s we’ll pipeline Logal, Cohen business Before call. let review. will open Steve the Dr. Executive And BioReference Chief Executive review Chairman that, a and begin, format Officer, open call. questions. After the to for quarter Then Dr. fourth Adam OPKO’s will Rubin, Phillip discuss will we provide CFO, Frost, review Vice the today’s will and

to Frost. call over the turn me Dr. let Now,

Phillip Frost

noninferiority noteworthy in growth year somatrogon standard somatrogon results accomplishments injected injections. favorable versus with current of for Phase joining units. top of daily the the line Good weekly for hormone our today. across X We afternoon, was business significant call you OPKO endpoint meeting with trial and a reported XXXX the deficiency, children for for the company’s thank

BioReference top performance. is and great will business trial detailed year, where forward beginning growth its the is Now, be in Laboratories new executive making bottom-line end at to financial March, last for X we’re to looking poised the improve Phase of XXXX. progress presented. the leadership been data the in more is Under since of that’s We Conference believe stable ENDO that and place

received In Determination Local November, trials spectrum the of number to of of our indications. number clinical each XKscore patient XXXX, Also, the prescribers final RAYALDEE with December of reimbursement terms XX, good quarter continues important expand make Coverage test and for to a populations. effective to reestablish in Medicare progress prescriptions underway sales,

execution point now these us, we of to milestones With focus value to OPKO’s behind on realize assets. the

more turn units. I’m Steve on now over get business into going to to the detail to call our

Steve Rubin

joining Phil. Good afternoon, today. you us everyone. Thanks, Thank for

milestones. Phil programs across important with accomplishments we As with progress and the indicated, multiple very company’s are pleased

favorable line One dosed of pre-pubertal the somatrogon growth obtained was year’s the children of results biggest in once-weekly our X top hormone global Phase highlights evaluating deficiency. with trial

daily of Somatrogon quality standard adherence represents in deficiency compared of and with enhance significant improve hormone children should that life the injections. with a treatment to of the growth advance treatment current

respect successfully endpoint velocity trial daily injected primary XX The after noninferiority its with to met GENOTROPIN to of months. height

and San We our pivotal been levels presentation factor insulin-like of Society’s X growth results two the following March. have or oral at delighted the to dataset somatrogon. Francisco abstracts to the meeting for the IGF-X other pertaining are accepted of XXXX that Endocrine One, administration in Phase of study in

commercialize seek a Asia including commercial our partner parts America. X somatrogon of It enables included and in enrollment worldwide is of on part trial our strategy sites worth to XX approval noting that that is The countries global to Phase Latin a XX basis. Pfizer,

of the Pfizer submit XXXX. the half FDA the second Application to expect in License Biologics to We

submitted in of treatment upon third be be In with completed an quarter demonstrating application completion to which benefit with study label half burden, line Europe, in of study open patients reduced expected we expect the the XXXX. The the the greater compliance is a XXXX. registration completion to for authorization and by of on in expected quarter top first of data market end readout is pediatric the in GHD Japan second track

Under million pricing and our with achievement Pfizer, OPKO to $XXX the certain receive to agreement regulatory is up eligible milestones. upon of

In both major entitled tiered certain Pfizer’s markets, Genotropin. are to product we for gross profit launches somatrogon addition, in regional following and sharing

as continual of reported numbers by sequential our breakdown QX XXXX business. to I RAYALDEE. a QX showed would QX growth XX% IQVIA now From the and total to the to commercial XX% a increase on compared for in pharmaceutical prescriptions increased of compared with RAYALDEE focus XXXX. perspective, like RAYALDEE Turning follows: quarter performance as commercial XXXX with

in New XX,XXX over in new by physicians. prescribed QX. have patient starts versus increased QX XX% X,XXX Since XXX launch QX. prescribers RAYALDEE had over physicians or were patients XX% RAYALDEE Over

has As the to RAYALDEE by market payers XX% other of authorization access of prior approximately X, addressable or January restrictions. without

approval partner Vifor later European year. anticipates Our Fresenius this RAYALDEE launch commercial and first for

kidney to with seeking insufficiency of one we patients and approvals in additional We higher for expand dialysis. with cohort indications. vitamin RAYALDEE require a Phase global D strength franchise initiated RAYALDEE are XXXX, stage who five regular X trial disease our In September chronic for

demonstrate later commonly ongoing data comparative have is an readout anticipated this designed X this Initial is line later data RAYALDEE therapies. We top used of expect to Also, readout study superior interim we quarter. that an Phase quarter. to

XXXX. become commence Phase a will efforts market contributor meaningful increase study RAYALDEE patients to penetration X and in we expect label are for its as earnings pediatric sales QX a planning part of and RAYALDEE’s and requirement these further company. post-marketing broaden study of believe a this Finally, we We our with to and

pipeline. programs and clinical additional several have our We in preclinical late-stage development in both

some. to continue clinical for advance of partner seeking while technologies the development We these

disease long-acting with growth insulin-like acting CTP on now development evaluating platform are bowel Following the CTP children trial hormone platform. compound factor growth a syndrome, once our other weekly deficiency. rare to focused The successful GLP-X the includes long treat antagonist Phase primary short growth X deficiency, rare CTP our hGH for acromegaly severe growth with of for we hormone for failure and for IGF-X disease associated therapies

in We indications at modulator promising androgen our prior or cancer following X in for Recently radical Dr. for Brigham Women’s data given in treatment Phase body receptor mass have PSA demonstrating aging colleagues study from data with selective exploring a a lean physical increased and undergone studies XX are our patients clinical levels males. various SARM, his decreased Prasad and also confirmed Hospital and function previous prostate prostatectomy and compound who weeks.

fat had demonstrated good safety our lean increased compound no decreased PSA. Top that mass well suffer profile, mass aging our levels elevated but mass studies many diminish lean have dialysis patients low and wasting in particularly of decreased body from several mass renal of and and males life. that known in compound disease on patients low body line of that a testosterone. frailty improvement in consistently their and Over with quality data end-stage It’s has levels now testosterone fat demonstrated symptoms levels muscle

population. SARM late-stage symptoms and the function of evaluating this strength We patient as muscle such our trial treatment clinical physical muscle are wasting in considering a for

with Jon? discussion for diagnostic that our to Jon overview, a turn of call Cohen business. And the let over me

Jon Cohen

Laboratories Thanks, top improve its I results. goal make Steve, everybody. BioReference line afternoon, and to bottom continues report to towards am line progress good and pleased to that

impact the see our of and to in oncology, businesses. beginning organizational changes to We’re urology, place health the specifically put positive we women’s grow genetic

strategic of develop In new pursue bear to develop infrastructure partnerships a businesses to books to of fruit. plan identify, addition, our a and is to vigorous pipeline large development deliver business beginning

in growth accounts medical Care seen physician networks, our to health federally have labs. and office We prisons, large qualified IPAs, clinically Accountable integrated Organizations, related systems, groups

additional partners very of positive and hope in with in discussions various We announcements next some to several strategic months. some are stages the make

to the The centerpiece remains to with commitment differentiate obsession to a patient-centric of possible ourselves service the an strategy patient convenience. best market and in our and experience

is improve technology in months will and begun experience and announce journey we space. just significantly investments the The new several to this patient partnerships next over has

to patients expanded new with in Better increasing plans. of network a and our increasing relationships to and payer We Health, to by initiatives improve to contracts Molina. make This progress number Aetna access access continue Centene with an AmeriHealth, Medicaid our new with includes health

have in as Pilgrim we Centera, and and health always with for regional Harvard plans Care, status successive addition, the such local network plans TRICARE West, In GeneDx. had Net, gaining Health Health

At result providers continue the of as we of specialty lab same a time, our preferred relationship, out UnitedHealth to and programs. targeted pursue provider network aggressively

as resumed XKscore of an January, As with January Phil local year XX% compared result new December. coverage on by to Novitas. for coverage of this increase orders coverage saw decision month the the a first test Medicare in first mentioned,

within reps we’ll of the couple the in invest doubling to number continue XKscore and months. of sales the be salesforce, next We

the premarket In PMA the addition, in approval application report I to our that am December, accepted or pleased for FDA XKscore.

from regard XX% relationships strengthen business XXXX country year-over-year year. this this quarter compared growth QX drive FDA and expect to saw growth in with centers of We hospitals QX increases the year. children’s increases revenue. leading saw increased its to X%. result, a GeneDx determination medical actual to we the increase and continues With a for to And our the and receive of an volume to academic in around as GeneDx,

to the briefly want mention outbreak. coronavirus I

provide other for health. in public the for testing test and is the CDC CDC, lab virus labs the the States. available. of to been departments Currently, virus have contact United constant FDA We the No state commercial authorized no with – and are currently commercial health in various only

diagnostics to virus when the permitted. and are health to of the We the from launch on for depending of departments commercial state virus as will prepared be testing the advice the

for our it that turn over performance. me of let With fourth a discussion quarter Adam? financial Adam to overview,

Adam Logal

in exceeded call. basis improvement during results controlled remained results BioReference our the revenues as to from BioReference. our on and comparative Jon. third management by consistent XXXX decreased with guidance Overall, quarter saw The million were third you, the from quarter we with Thank team. $XXX BioReference for which a operations financial a starting an we showing expenses the operations provided

we reductions and to operating improvement and in show teams and our that Jon cost continued Geoff well the positioned throughout during their results XXXX. XXXX With implemented XXXX, are

year-to-year Our related million included quarter $XX.X operating The over of to loss device of of of operating the XXXX to million. comparative care million and revenue fourth charge million results fourth the $XX.X administrative which loss of expense our XXXX QX point of diagnostics general $XX and segment had quarter for of elimination impairment $XX.X the during Claros in XXXX. to non-cash selling, reflect compared an cost of an compared of

available guidance revenues recorded the during RAYALDEE primarily capital programs. quarter price. million the highlighted, to the our also assumptions certain prescription during growth decline impacted The the net exceeded the of and charges timing flows. triggered our that were factors improvement allocation to programs’ fourth and our $XX.X advance we Steve realized attributable of in estimated the cash our impairment market of and of in and cap strong the non-cash quarter future by timing These

impairment fourth quarter. million charges both non-cash totaling diagnostic pharmaceutical The and during approximately segments recorded $XX the impact $XX by million respectively, $XX million approximately our operating and

including Overall, a our the $XXX of fourth costs million. XXXX fourth compares for million and the of for which included million charge impairment $XXX.X quarter quarter expenses charge the non-cash non-cash impairment to $XX.X totaled which XXXX of

during of of into costs to charge significant take taken account $XXX quarter. million and the guidance non-cash Our didn’t million $XXX expenses impairment the

at our credit other otherwise to in availability below $XX basis. programs with with entered our costs us a of the million December believe of administrative R&D Cost associated we and into balance these reflecting sufficient on $XX with cash line provide slightly fund that non-dilutive our us announced our XX funds operating of lower development selling, Dr. our $XXX We as a today liquidity general hGH being of providing and in revenue, facility million Frost with into liquidity expenses We guidance previous were expectations XXXX. coming program. with with along with of billion

positive in organization with by RAYALDEE is a providing reduction XXXX improvement result continued used flow in Our cash activities, BioReference’s now should commercial cash operation. operating in

know we our our With wanted financial financial to results. more and today Based on performance. I for review specifically XXXX’s that, anticipated XXXX first quarter what expectations

volume for of from between and be of revenue the million mix services expect assumptions first We is $XXX million. reimbursement on The revenue for QX quarter range to $XXX million and to XXXX. compares provided $XXX based a

being Overall forecast volumes of year business. of and similar year revenue reflects and are for around our lab to the which $XXX of million the revenues. continued at impact $XXX from PAMA, expected of full come and with full in full ranges year, in genetic assumptions expected QX clinical the compares XXXX to along testing The growth XKscore services the revenue the looking $XXX our the for million, million of to benefit between our year XXXX. testing the And full volumes

and Turning to including revenues expect $XX.X million product and of to between first quarter million. revenues, million $X.X be the RAYALDEE $XX $XX we between million from

from revenues property million. the While $XX and to intellectual expected be are million transfer of $XX between

full $XXX year, between including million the be million we For revenue and million. RAYALDEE revenues $XX million $XX to anticipate $XXX product to of

for net international fluctuates as as and from our as of businesses. year, the reflects RAYALDEE assumptions well unit the typically our price, net price various growth well The for revenue in range the which around assumptions as quarter-to-quarter of first realized with highest realized fourth quarters our ranges

somewhat less be $XX is the historical during upfront of and related partnered than transfer we payments on $XX the million the expenses of million as from revenue For XXXX to amortization property, our year, be Pfizer. from of to it dependent this programs will between for full reimbursement intellectual predictable but rather expect

first expenses costs anticipated expenses and million including we at Looking for development of be $XXX $XX to and to quarter, $XX $XXX between research million. million the expense expect and million

For be $X.XXX to billion between $XXX expenses we of $XX expect million and dollars development costs expense to $X.XXX research and and including the full million. year, billion

others revenue, factors significant associated one, There allocate which to and new are of the XX% programs reflects two available how represents the to with R&D range. the impacting our license R&D our costs record about we spend, capital

to have our we reserves. capital and right throughout infrastructure will as we rationalization ensure remain priority to Expense support the a allocation top XXXX work

We have commercial R&D. are and investments performance for for RAYALDEE diagnostics cash flows expectations continue and businesses, important continued both within financial of to improved which our our into

open I’ll that, With the for Operator? call questions.

Operator

first from Maury, your is of question Maurice And line Raycroft. comes line now Instructions] the [Operator your open.

Unidentified Analyst

[indiscernible] Maury. is this from Hi, on

specifics ENDO the main can And what are be question you study analysis posted provide and on wondering idea on the the if So is abstract. already. more regarding abstracts the the included that in will of we’re some update,

Phillip Frost

the Yes, is secondary both the get abstracts was endpoint. at can also you demonstrating But only but the as endpoints. mentioned This study a – take primary six the top overview. I The secondary into months. away from anything over one we abstract. the favored general data, won't – the of particularly specifics but true of at not genotropin. was generally, also earlier, I line It met showed, give somatrogon months our XX primary,

at looked secondary endpoints other IGFX. also such as We

at looked showed And also it data somatrogon height treatment. We consistent a SDS. the again, favoring

that if Something that I also per think later or presented or the baseline, deficiency. data will show. growth And terms when separate finding you somatrogon, severity when of do you is you see patients when the gender age, favored age, the hormone the a in of the consistency as it there's at data it's both

for I the demonstrates well that, product. program consistently So think, really the or

genotropin. that. Also, more And the on again, safety was, to comparable we'll details have

patients required statistics below oral patients will an and have that and the have also be will IGF-X that which There a we're two, say IGF-X, dosing when our as have in And abstract IGF-X low did We an the for that months, is demonstrate estimated will were a the think, IGG-X. one can is higher as in year. to the below who show year. I used of On with SDS all are throughout presenters, changes to percentage two. it growth has ensure know, I hormone which monitor person think properly what's as the the And XX is of on is, the IGF-X to take analysis, with actually the presentation throughout throughout treatment, the treatment the on become way IGF-X. I lot mean you the important very we throughout of what you that a that it's those

that So we're shape going I at think again, from in it's meeting But more the very presented to good be in aspect. detail.

Unidentified Analyst

you. Thank

Phillip Frost

welcome. You’re

Operator

line And question Dana is your now next open. Flanders. your from Dana the comes

Dana Flanders

had couple. for much guess, obviously, one nice my first very you quarter. I thank my just very RAYALDEE, Hi, questions. on taking I a

you expect from improvement Just perspective, a talked a kind net that should just to see quarter, XXXX? I gross fluctuating know And by but you improving? about be to year-over-year of how price trend throughout if it to could curious you gross just net. in year-over-year net

how on then And volume second price? follow-up. the you business. think step-up help the given services know And revenue, Labs the question, underlying in some to just not about pulls my PAMA, forward? Surprised one And going BioReference. XKscore seeing just then should back labs mentioned you sustainability quick for I revenue bigger versus in And I and that the Can a is of understand growth us have pushes we BioReference line. but of

Phillip Frost

Sure. Dan. Thanks,

take labs maybe can and first, RAYALDEE question. the and Just I I'll tackle then Jon

So net, the in as expect XXXX as saw RAYALDEE XX% on we the low high be low as to still XX% between XX%. during We still we to gross as range. net, and go fluctuations to

expect it one and utilization. the gross and payor QX how net. price the to But get guidance that on are payor that, depends So place up down. don't bring net of the or payer in seeing we that impact to on to of any and throughout pricing coming expecting better the new to working utilization come is beyond the really quarter board impacts other hard Actually agreements year. we actually realization converse to the that, contracts drive

maybe touch Jon, do the… to you on want

Jon Cohen

XK, a which months – – February, significantly had one decrease we're the January non-reimbursement. while to LCD we two to almost seeing turn the compared went that we of X, relative all just occurred so Yes, into have effective where data

we force, within where the months test. the the about, I doubling So the have several heard sales think you sell specifically next we'll be XK also as force to but basically – me sales talk we're doubled

XK. optimistic on and we bullish So remain

going the health the volumes seen and of on where strategic issues the revenues leveling terms to issues rest volumes, leader. the to address last and the and partnerships to the side cancer the The still business. We're around working we're year do significant to industry. making off relative urology compared we’re in accounts new about. inherited talked And are the win to In beginning we're diseases the addition The segment, to we progress health other to of a relatively women's particularly in I've about we and portion through that on only we've relative transmitted optimistic with of that churning reproductive vertical. women's going new of how sexually again, the is continue What a around the around path. the we're tell the genetic to issue health,

Adam Logal

Yes.

So guide XK working provided, the the Jon and the mostly initiatives the Dana, growth offset by PAMA, that is on business. we does of reflect that rest of with revenue it impact then the

But likely that profitability better the would think So certainly, pipeline year, that stable pretty here is the business today, matures and should result provide the as of contributions. as the revenue some that we back that show sit clarity shows little that a we come on we the within how to I guide shape a and year of consistent bit throughout more XK of think as sales going rest up. range a

Dana Flanders

frame. job doing market of I balancing in follow-up. flow and new kind managing nice the question, how you're quick XXXX haven't you And hopefully Okay expenses and given could year long-acting hGH a kind longer-term this not have is positive. R&D – and of a get the guidance, programs versus initiating growing one know just the know bigger wondering to RAYALDEE but you're you're great. push on time just I you picture Maybe a cash

how versus generating push some is So of big balancing for earlier-stage that programs Thanks. cash start how to just you? flow? you And that some curious, pipeline need a are the of

Adam Logal

Yes, I'll that. take

require partner, the So lot provide do far We're not of to going as a that. the will forward programs without cash a capital. that to go who

we we'll a need they and couple R&D come now, there big we along, limited, if some and we that The that involved is only year. a this the the other cash have so anticipate projects, jump with other don't for interesting as may projects, in for be required will cash during get see

Dana Flanders

you. thank Great,

Operator

comes is question Sandler. Piper Tenthoff Next your from open. line line now the Ted from of Ted

Ted Tenthoff

couple a Great, on thanks. if And good the of questions, to finish strong and year. A may. good congrats I quarter a

you what's product? sort I growth? what score. that And RAYALDEE saw want readout this of to I to And a dialysis you. on expectations from that for be what for leading follow understand to Thank the XK Firstly, guys that that should PMA And quarter? more try little does the get of also, the our kind strong color

Adam Logal

XK I’ll So one. take the

as to payers. know, reimbursed. on question, your So There's approval and is fully sale you need the out FDA it there to base non-Medicare probably continue certainly that it to validation. that some don't the of want see because commercial still we But helps

for think help will I it validated physician purposes as on well.

think benefits the you're for a Going I of our validation upon. efficacy restricted forward, regulatory can and of another side with that more from it's it But specific clinical test. approval other a the expand of it has local – now, a agency like, mostly to a just we

Charlie Bishop

this Bishop. So Charlie is

we RAYALDEE, number key of for were in the Regarding increased that drivers saw RAYALDEE a QX. growth things

expanded now to force traction has field the sales. of sales that trained. Has sales in is One fully force. regard the you and as of got That know been these, with in year, the course, earlier we getting time

very our improved with Secondly, good publication with out the of that. and We're of a traction came getting seminal the substantially that. messaging year paper that last messaging

past we And has QX. substantial took the of quarter. exposure that lastly, during Nephrology believe And meeting with new that messaging exposure that American we I in in sales the got had that at meeting excellent driven the Society our place additional

Ted Tenthoff

with be with And what helpful. we readout? dialysis kind to of expecting then you be us? should readout the from really will sharing that’s respect Awesome just What

Phillip Frost

do do quarter. of we in study later ongoing. the So have study, expected top as line an it's mentioned, and cohort data we We this global Steve first have, a – open-label

from March the determine So of And to key things. study goal that we has be preliminary data the study. in several been will announcing

of phosphorous you First, make is analog don't Vitamin RAYALDEE doses administer drug cannot who excrete of the they high if patients and that D well. to see because calcium tolerated you urine, will

we'll tolerability first foremost. be So and giving data

Second, is which there's functional have be literature, a general Dialysis in a activated kidney. there calcifediol kidneys. is RAYALDEE, the understanding don't unless cannot medical functional that patients

of who has been demonstrate the to So can that have don't patients study activate kidneys goal RAYALDEE. functional

So we the of that expect the to results be study. of announcing aspect

And is parathyroid a concern hyperparathyroidism. to be to literature like hormone reduce become RAYALDEE who in lastly, hyperplastic disease there considerable that responsive the in product product patients unable glands levels elevated The the secondary would like and advanced have to less causes developed a substantial RAYALDEE.

respond we be with will can whether RAYALDEE. advanced patients So hyperparathyroidism divulging to secondary or not indeed

Ted Tenthoff

Great.

that really should excellent. – ton a Okay, looking I’m for Charlie. interesting. Thanks be

Phillip Frost

respect the Germany in our one a that are working Europe in And will RAYALDEE, we this perhaps think come Vifor on should getting approval are they emphasize very partner, of an been improved to I sometime or partner. we to that also countries. good market. large the year, has diligently With first And hopeful

Ted Tenthoff

That’s great. I appreciate that color Phil.

be little just maybe been thing. were You and about one test get stocks more you this to reading about press What bit to Maybe up in would a Thank and mentioning the occur could it. that coronavirus for tell everything And potential testing. Jon, you. down on we've and to all obviously, move be coronavirus? us the a testing figured seeing used? have the

Jon Cohen

to is the are already it. that CDC run sequences the has released that happens what So needed

test could up a and running would very that quickly. we you I tell get So

is One is they flow lab. you of right that's called what's have, the prefer up that questions airflow reverse that a come now

up it But you So that impact of with at once or Being I'm tell week about a having will has talking you a which be reagents that entering on February, now that, period said quickly. are close a probably end that as flu will to the the certain released. issues country, personally will the and season having through hope there's is other within get two, the know. to burn Zika, places actually the test relatively can't significant lived I a spring Northeast we it’s the transmission, in of point – out. you HXNX,

get predict tell to will this, But going I or as will be testing here will I look said are does keeping labs. at the at relatively and overwhelming, then appropriately, commercial you overview, this in not track the want Department sit not If occur. it – like what least I'm tight and to So how [indiscernible]. the State they will all will Health they'll much of because it

time get the out. The updated not an not would question be is is So is it The to get one. question long out. it weather to this long

Ted Tenthoff

guys. Okay, you Thank great.

Operator

Laidlaw comes Jen from is I-Eh the question I-Eh Next line of of & Company. open. your line now

I-Eh Jen

mentioned us maybe Thanks give the – detail bit Intel’s color, me open-label be that? us for give little the Could of give guess, when just little the completed, studies. in a first in but a terms question will questions. is bit for you you overall taking My that growth hormone European more what more was and I

Steve Rubin

day. to to once week questionnaire, So lifestyle a that pretty questionnaire there it. complicated a benefit It's to little is showing it's preference a and test Europe. that It's injecting the line in every more patient versus based to a the and test a much unique – really that's a

I-Eh Jen

So more is not element it guess, clinical of, related, survey any things. it's and I type a of

Adam Logal

is really It's No, and clinical a just determining there compliance. benefit no element.

Charlie Bishop

a It’s preference.

Adam Logal

day, of the at a preference. preference. it's It’s end a the Yes,

Charlie Bishop

based. questionnaire clinical No

I-Eh Jen

And would might time you for based Europe Pfizer's what filing remind on the suggestions? be us

Jon Cohen

Europe in for we So talking said, Europe… talk about you're –

I-Eh Jen

Europe. For

Adam Logal

XXXX. of half First

I-Eh Jen

mostly at get any that, question other, to point, differ some PCR in coronavirus. one with this Is more is again, that the test how this or least maybe here Okay. is And test a at a development test rapid follow-up from revenue test? And readout?

Adam Logal

Yes.

rapid. XX mean, test not will So up the if XX it or sooner. relatively I It's have quick. hours, and will once be be if running, relatively it we

I-Eh Jen

I appreciate And quarter. the a Thanks congrats lot. it. That’s Okay. great. for

Operator

of line is of Mike the your line Petusky from comes Barrington Mike question Research. Next open. now

Mike Petusky

number? Good was QX? you. any a revenue revenue Thank but the to missed there evening. up clean RAYALDEE this in I earlier, catch that Or reported may for have element was truly

Charlie Bishop

no there quarter the was It activity. catch Yes, was fourth up Mike.

Mike Petusky

I that volume Or Okay, was just And revenue? heard that X%? confirm up all then I right. GeneDx the Can was was? you that think what

Adam Logal

volume That was was was that up year-over-year X%.

Mike Petusky

Okay.

Adam Logal

lifetime And XX%. up was whole

Mike Petusky

year-over-year? about what GeneDx in Okay revenue

Adam Logal

we services. that revenue out that total separately to just in XX% it don't So XX% break still Mike, – we from of remains

Mike Petusky

can’t Okay. But you growth year-over-year? give

Adam Logal

that broken haven’t separately. We

Mike Petusky

in then EBITDA was Okay, the margin all do was any And you I by in what chance? wondering, handy have right. BRL QX

Adam Logal

Mike little bit don’t the will come can to out XX-K is it out if we not I – later yet. a night

Mike Petusky

positive? was it if know you Do

Adam Logal

do, yes I it was.

Mike Petusky

got. all Okay, right thanks. all That’s Thanks. I’ve

Operator

at hand no time. showing the would now like conference Frost. And I back this Phillip to further I'm Mr. questions to

Phillip Frost

Thank mentioned the product partner RAYALDEE. is human a might that whom energy product, partner you. get a hormone a people I company, great a to with also the Vifor the of for of the for terrific of tremendous been CEO spirit this work, this our the for that cooperation. into say top to And there's at from application has been we point, and very down Pfizer important level And the of approval high I growth FDA.

fact may time And some little they hard and on have very so in with been submission. Cruz, that in And and their both really staff, luck, appreciate we Hsiao we pick a the up the Tony Jane working with Toronto. and Israel

you all So you with and thought, that thank participating. leave I'll positive for

Operator

Thank conference much call. and to you today's who concludes This everyone to so our presenters participated.

may disconnect. a day. great Have You now

OPKO Health (OPK) 26 Feb 202019 Q4 Earnings call transcript