OPK - Earnings call transcript Q3 2024

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Operator

Good day, and welcome to the OPKO Health Third Quarter of 2024 Financial Results Conference Call. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Yvonne Briggs. Please go ahead.

Yvonne Briggs

Thank you, operator, and good afternoon. with Investor Briggs Yvonne is Alliance Relations. Advisors This statements results. today's discuss third to the that management expected OPKO you that of all be financial other subject to forward-looking joining for any you historical remind materially the could company's Thank than Health's statements call fact be call results uncertainties and like affect as to risks during will of and made this XXXX. I'd will by quarter considered for such, Those without filings, described the December XXXX. the of XX-K as include, contains in forward-looking the annual in November information broadcast, call year live conference and the time-sensitive Form only risks of statements subsequently that various the the limitation, reports. This accurate X, filed on company's date ended including SEC XXXX, for SEC XX, report is as to obligation of reflect or undertakes circumstances required after statements revise or call. OPKO by date to Except any forward-looking events no the law, update this

as After Logal, CFO, quarter up the that, review for Chairman BioReference review and will Health pharmaceutical then questions. me OPKO's financial third as Dr. Vice provide open financial the then Adam company's fourth Zerhouni, and let Officer, we'll begin, an open overview Elias provide OPKO's the the Executive will Dr. we today's Phillip President, Chairman Chief results format Before call. and quarter Frost, well and of business. call. guidance, call to will

over the to like I'd Frost. call turn Dr. Now to

Phillip Frost

put clear profitability progress certain has to with today. pharmaceutical Significant diagnostics developments made Labcorp. our had selling Good to in and thank afternoon, a good joining and positive after BioReference third path quarter for We assets you a us segments. to on been both

continue successfully dual of our be product We injectable to once-weekly of markets, the launched enthusiastic GLP-X/glucagon we and ModeX has agonist technology continue in positive about studies all the animal priority NGENLA Pfizer portfolio, development program.

great promise of stock once-daily our funding capital our bolstered for in program. cash with balance shows pharmaceutical oxyntomodulin an animal significant orally a adequate sheet return our Bio and also on Our ensure delivered, through repurchase with studies. We shareholders pipeline, Entera version collaboration to infusions our to to

to reflected to closer the continue stock assets a -- and strategy, alignment important be value ultimately we exercise price. we execute catalysts in of these of expect As our our our

Our segments strategy consists ModeX, to structured currently plan buyback investors and We're to businesses. to operate drive initiatives We of business around hormone sales. health is pipeline By asset care portfolio our our variety business value development these segments Pfizer, of with OPKO franchise our a key of confident that and for program share partnerships, consider in evaluate. will business and global as our additional and X appropriate. OPKO reference, expansion our assets. growth with need

Elias. sales process each partnerships you capital this to so in look that turn We've XXXX, to ability of to We continue development to keeping We order value build value, hope unlock our activities forward in to introduction, in OPKO. and the call I'll progress. With explore seen in evidence with the apprised far XXXX. have the of to we business over or and return some

Elias Zerhouni

Well, thank afternoon, everyone. and you, Phil, good

sustained we the about revenue This and The as New and services for sale in we a us million. oncology excluding of to retained. annual Jersey. New focused growth and our and sold to will which comprehensive As and infrastructure of profitability. sale continue Jersey, on $XXX.X nationwide diagnostics offer clinical businesses Health health Health New women's testing and mentioned, operating BioReference York division completed of OPKO as well menu costs specialty overall assets to position allow $XXX will streamline million. BioReference York services but Phil in laboratory the diagnostics core The New reduce for neurology maintain had was nationwide better operations

Now $XXX exceeded indication. million net XXXX in BioReference remaining as the an Health on sales continuing from operations

to oncology compared testing innovation in to the this quarter with of both specialty the with our Our third high-value of expanded continue X.X% health centers of high testing year XXXX. portfolio this and perform segments systems. quarter And well, up and collaborations volume debt large reflects cancer was third and testing the

are in inhibitors Additionally, prostate therapeutic These where option. testing a recombination to QX, tests are like for for breast, approval necessary New Lynparza cancers, guide homologous in the ovarian, York from BioReference PARP therapy. best for pancreatic received OnkoHRD State and for AstraZeneca, deficiency example, patient the unique

few next-gen to patients in sequencing now option considered by tumor full makes for their our of germline treating testing, menu this and BioReference, one with offering labs subtype combined And comprehensive testing comprehensive with offer these an provides OnkoHRD a this patient's be cancers. And therapeutic HRD of most clinicians sequencing a cancer by the view with common with and the the options and patients Advanced so OnkoSight to physicians. OnkoRisk

Gleason score in a defined for elevated same a at PSA with recent XKscore decision. X than PSA men reduce of prostate test, the XXXX. XKscore is FDA-approved of high trials European test countries whether provides and a demonstrated XKscore over the in of both and period prostate biomarker test review equal of these And of of the delivered and XKscore of The a is XX% of the as performance biopsy the require several mass cancer test, the can age the Year-to-date, segment, trials regarding in for screening greater last finding cancer. and Urology is for diagnostic evaluate been journal the biomarker with publication that the the to XKscore above confirmation. biomarker urology cancer the an that over-diagnosis PSAs biopsy prostate algorithm has our XX which ratio and cancer tests the in Association decade, among aggressive included elevated growth probability studies, score several for assessment, probability As or test And test. In risk to or indicated clinical and an have included test cancer. prior men concluded screening XKscore use blood prostate a initiated population-based liquid XX screening European highest X value strong stratifying individual's prostate prostate prostate different cancer tests of

our to pharmaceutical gears switching Now segment.

ModeX programs Therapeutics are progressing Our nicely.

breast, Our of currently tertraspecific of prostate humans. a and variety the safety biologically antibody, active MDXXXXX pancreatic portion to open-label and designed initiated Phase study the ascending primarily a Ia evaluate of tumors, Phase immunogenicity trial of is dosing is The at cancers. This MDXXXXX establish doses sites in dose to with including XX and and patients. patients to I X enroll is a trial lung, solid expected

including influenza expression through antibody the well from an as Approximately for $XX as antibody additional to of programs, tumors tetraspecific we were million a progressing our indications, to of MStAR trials leveraging as under and second gene-based and of the multi-specific other development as well platform. awarded our BARDA in expected antibodies the antibody $XX clinic to preclinical preclinical Our $XX immuno-oncology a SARS-CoVX million MDXXXXX, contract million additional develop work as SARS-CoVX, MDXXXXX, Phase enter mRNA funding modulator, for well multi-specific the as initiate last DNA immune to INDs are to and I next of liquid existing year. Of month, novel funding antibodies our antibody to program, multi-specific multi-specific vectors. on autoimmune note, is COVID earmarked

activated current $XX begin antibodies BARDA potential influenza, addition, delivery to gene contract million development In totaling multi-specific protein funding from modalities. with of and our

executed. This total, a from with actually for potential a bio-defense collectively, as for this platform of will be committed program at all if total milestones $XXX total with use additional as funding, million (sic) million develop future support to and if program, So ] non-diluted are accelerate flu BARDA the gene-based the delivery granted, $XXX the options million target funding and against well $XXX brings a pandemics. used other [ threats COVID methods

to with addition, in Merck Virus, Phase been work multivalent nanoparticle Merck. Epstein-Barr with by and to enter Merck I collaboration development ModeX by to progress Merck eligible associated assume and EBV on received milestones like our MDX-XXXX global the human these will vaccine collaboration activities or on track soon. we million of development payments Preclinical are as $XX After as million sales. the of milestone about And the to with payment is begin, $XXX.X funded add up studies that commercialization commercialization. I'd being vaccine. performed an In recall and royalties virus all in clinic has upfront for through well is for

as our growth Pfizer's drug patients shift pediatric to Now launch once-weekly more to daily share convenient gain the this from product of NGENLA drug. continues hormone long-acting

entitled with note is is $XXX also an payments and HealthCare unaffected adult to milestone to pediatric the Now potential related million agreement in purchase additional Partners. indications, Royalty and that additional by OPKO

in long-acting that and we development happened to oral both subcutaneous has Now formulations. and continued our something very analog the of interesting that have is advance oxyntomodulin

peptides oxyntomodulin being are to well weight know, analog loss. basis you As as for are today of -- as that patients for diabetic the the used

trials compound linked proceed reviewed we we the of those been vitro limiting subcutaneous formulation. strong to for be confirmed was and glycol, the through suspended data Now we then trials, assays as once-weekly completion studied and animal key administration. in as an have the II and not a has peptide, which redesigned Phase polyethylene models peptide did after candidate key disease progressed clinical essentially because But PEG the acylated the same

administration combining we potential on or The that recently clinical our resulted from could pig single our in forward showed treatment The peptide. support formulation presenting obesity and acylated the to orally. announced bioavailability in compound be for a Entera's collaboration N-Tab a going And would that and developing once-daily patients once-a-week the collaborative a and at dual-agonist findings desirable in once-daily Bio, And model this deliver upcoming disorders, including generated. proprietary is all novel and We our a studies first focused treatment for see oral peptide oral rodent so injectable technology ongoing NASH. research to trials continue could recently vivo look in regimen. In with compound GLP-X/glucagon we're PK profile with our enter have metabolic conference. to results if parallel, program these we to an Entera very we develop dose GLP-X/glucagon

adequately we pleased fund has the products. summary, been and business growing partnerships bolstered attracted sheet by progress innovation segments. has that internal encouraged diagnostic both to our are and our significant date, first-in-class in pipeline to of operations We're our balance in our So made biopharmaceutical while our

and remain progress. With that, we call discuss the our strategy and drive results. in so Adam Adam? to Logal confident to to turn over financial now business our our And ability quarter I'll capacity third

Adam Logal

you, Thank Elias.

discussed, the equivalents, which cash third year-to-date Elliot retired and XX.X don't retired over repurchases include $XX.X million sheet. of balance repurchased shares Labcorp million and HealthCare repurchase a year, shares restricted shares our XXXX through million under for and earlier $XXX with and million to our the approximately JPMorgan Labcorp X. Further, September that XX total we total transformational ended $XX.X cash bringing $XX.X quarter asset-based or our million our of of with include a January We inflows held shares not Phil $XXX closed in And the for we and Royalty shares of transaction XX facility and this million transactions. with of as As does for common XX our outstanding million business million. We or cash in escrow related lending XX. $XX has program. This XX% was million to September our through we from repurchased our share of our yesterday, stock repurchased stock million

we will and invest R&D balance cash disciplined be significant what in, including a priority programs. our in have highest We

XXXX transaction and with decrease continue Labcorp XXXX segment. of Revenue the note review lower commitment also of quarter third was the mid-quarter fund financial our let's will to that of shareholder well repurchases impact the the as the for results $XXX.X equity a our $XXX.X period. for result Starting our our million for testing hurricanes demonstration the including that, million during convertible volumes, value. With occurred diagnostics third impacting quarter. compared primarily quarter was as the with of opportunistic southeast. This We X to as the enhancing

with comparable compared million quarter the $XXX.X and of totaled of costs XXXX, XXXX. During for expenses million third quarter the $XXX.X

realign million and costs to transaction severance, nonrecurring Importantly, and after our contractual expenses Labcorp $XX business costs the closure approximately growth for volume costs shortfalls, we closing. profitability facility incurred sustainable of and all as ensure as included and expenses expected

periods, for an respectively. of XXXX, recorded also with on of a in of resulted of XXXX $XX.X income and million XXXX diagnostics million Depreciation for operating the transaction and the for the third $XX.X which million quarter XXXX quarter. operating to Labcorp, compared loss $XXX.X $X.X segment gain and the expense was amortization million During $X.X we the million

have profitability put discussed and this at previous initiated by and we position the transaction restructuring operating step we -- to transaction allowed flow this As strong for in of on rate to quarter and end the operating breakeven calls, business us to a the was in positive activities major us Labcorp the cash XXXX. run a in a have profitability this year return

Revenue period slight bottles products, XXXX. Despite of international to $XX.X $XX.X to from cost a $XX.X of Moving IP third XXXX of was for above in for of quarter. improve million $XX.X third comparable co-pay comparable compared expectations. segment. was quarter than revenue this was million to quarter the foreign XXXX profile from compared our of was our our continues currency increase Product the period the profitability pharmaceuticals the transfer for with decrease compared includes the million including million, the XXXX's programs which pharmaceutical $XX.X revenue XXXX million assistance the lower for million, Revenue shipped. Revenue Rayaldee an and of $X.X environment, businesses, XXXX. of reflecting million the the of $X.X business number million challenging to in our $X.X for from the of

share third the $X.X Our the of XXXX quarter during Pfizer for million from million compared to gross profit was XXXX $X.X period.

as increased development the for million of million quarter of third million our for includes resulting for activities. The September were for was XXXX, loss compared compared XXXX I loss as BARDA our Costs BARDA addition, increased $XX.X expense were well expenses XXXX to the a $XX.X programs, agreement. R&D of Depreciation compared $XX.X to for including clinical and XXXX in of ModeX our our and program to Phase expense XXXX ago. funding to our from the In recently million the the $XX.X the the quarter $X.X related supportive and of commenced quarter trial pharmaceuticals operating Research for XXXX. our quarter result segment year as peers to for third $XX.X quarter XX, R&D immuno-oncology for $XX for development quarter. million million million slightly a million third $XX.X operating the amortization period. million activities an $XX.X ended expenses

financial results. consolidated our to Turning

income period. third share loss of the or a For of XXXX, quarter with $XX.X $X.XX per per net for million we the net or $XX.X compared share of reported XXXX diluted $X.XX million of unrealized Net included period. noncash of $X.X third a quarter on loss million GeneDx compared income XXXX gain $XX.X for of XXXX of unrealized to the million noncash a the our investment for

are As financial assumptions. we providing guidance look with ahead, we following the

our including quarter our U.S. will rate with to expenses ex for progress the we realize assume XXXX segment, due grow the expanded For margin gross pharmaceuticals activities our of the BARDA of and stable its to processes. agreements. Pfizer higher continue reflect of pharmaceutical a scale-up NGENLA foreign exchange sales of and fourth to ModeX We manufacturing businesses, benefits related to our programs, currency expect R&D efforts for the and CMC

continuing For operational and continue fourth is and to program $XX reduction will multiyear, improve costs of we efficiencies the to began in program some our end of focused which and expected our million fixed annualized XXXX, savings approximately quarter realizing diagnostics multiphase infrastructure third of on segment, quarter. the profitability. we the throughout of This by deliver the is are

and primarily to additional facility paid an million We through the be XXXX. out expect closure in severance fourth costs quarter, of including nonrecurring $XX costs

testing an $X XXXX. and are for revenue for benefits our oncology million overall from modalities to the million result implementing revenue increases programs, offerings. quarter effective to of have were we These full action the the annual actions $XX taken third that expected In in in price approximately increase in including addition, management year are including cycle of our seeing certain

annualized for We We and established fourth during for further XXXX margin gross our of XX% additional expect cost business flow guidance a million the an positive targets thresholds providing have and to full call. an quarter initiative and remaining be details above year have savings. established and forward our targeting $XX to cost look additional cash

$XXX following million $XX As between for million with $XX product and estimates sales profit services quarter a million $XX $XX XXXX. from expect of between revenue result, and $XX revenues revenue million. $XXX and we $X Total revenue and $XX the Revenue of million, between between and million, fourth the other $X million well $XX gross share between BARDA $X the inclusive Pfizer million and as million to million; million of as from million.

excluding programs with of on to and depending expenses and $XX expect and the BARDA We R&D ModeX is questions. $X between your $XX between funding. amortization timing nonrecurring thank million $XXX fourth and to the million being prepared the $XXX offset be expenses all per to attention. to you related quarter certain remarks, our million and expected expect by million and $XX million Operator, $XX We our be of cost million be restructuring concludes between depreciation to million activities for open million. That for $X finally expense let's call BioReference.

Operator

from [Operator first Jefferies. Instructions] of Raycroft comes Maury question Our

Maurice Raycroft

Congrats on for the wondering off, XXXXX. the what just progress. Maybe steps analog starting next are oxyntomodulin the

maybe parallel data also, you Is advance have into and this drug. as oral about the the Phase PK I the the to talk in strategy with said form plan preclinical study that for data a for between more form or getting the you version? for Now options you well. just subcu oral subcutaneous the and Does advance the subcu will in oral the Entera open, keeping XXXX? And form this

Elias Zerhouni

you. Maury. question, Thank good a That's

oral of technology. I Entera mean, their collaborator a Bio So yes, the going to and we're as using parallel continue. with in development the

forms. peptides other on We two, X the comparable is things. market say results that One And to oral in have is early feasible.

And competitive so can there. be we

work Phase to much, a reaching you We've to preclinical the form, is even this molecule injectable before have work. We a lot better allows just II once-a-week injection advance do the matter. done terms a and much because one of it of of think with different doses. composition on In this we lower

we our are from different least composition in So what is to from based other market need comparable GLP-X/glucagon the peptides is most the understand that Ingelheim co-agonist at is on here of on a that experience, today. There Boehringer that of one this is of the peptides.

I. need a to to can where we not or advance we we that we so to make to whether what need the have decision to Phase as point And go

attractive interest with in we're has partnering and have is preclinical that So in work other us the ongoing, an It phase. may the parties to We're interest. talking Maury.

make and can't active statements I than it. So but any we're more that, actively we're pursuing

Maurice Raycroft

Got Understood. it.

the Okay. for about that's the Do data half and then influence could expectations could And that and ongoing. 'XX. can you anticipate study study, update steps this is initial report talk first MDXXXXX you investment what And I this in know you show in how program? data but early from for an continued next a you will

Elias Zerhouni

X So know, just as you phases. there are

The to be first the one dose where a of we is range efficacy. think basically escalation will there

So do. there's if at and we are a be to that's time we done, different doses month in Those wait cohorts to have we have a side see where go patient one this response us time, able Once will done we no that to have at see to you allowed if we'll then at and X X patients FDA to a time. a have cancers effect.

also it's will tolerable and not if antibodies read or -- good have get we out first don't about safety another a profile, finding antibody for antibodies. to months take X, whether we it probably Now have X the anti-drug drug a

X think it in ways. of So

out half. the first like will XXXX, first end in phase, feasibility of the the First is half which more the towards first be reading toxicology of

going a patients. want The to to one be XX we that much believe read towards real trial will the again, middle is hope. test we phase effective are to that in longer And a basket about a probably 'XX, take doses of we of second while where

Operator

Ladenburg & Our Cohen of Jeff next question Company. Salmon

Destiny Buch

to Jeff. start with the XXXX on asset. Destiny is This wanted for I

making Merck towards jointly decision that know I'm you're who it that since clinic. both associated to this progressing is point, going moving is that for wondering the the over forward? And of said you're You kind at take I costs.

Elias Zerhouni

Right.

-- program joint a basically. sponsor. the have We We've is Merck

make But everything will the decision to decision. the the all obviously is clinic. Merck have this our the We So into make have point decision. they need participated that decision. entry They phase that not to through here at their way decision, actually this

Destiny Buch

Okay.

forward? nothing moving is So really from more Am them understanding outstanding of there's I correctly? them stopping thing. that It's

Elias Zerhouni

a There's sure. us in Yes, point, decision. nothing making that's an at obstacle this front of except them

Destiny Buch

be Okay. the BioReference. in guess, I'm currently touch quickly Perfect. the on profitability contingent if kind those business in other And Congratulations reach investment invest comments want that profitability make? it that more to more this having you of words, to do I Or wondering to as I you are sufficient? on order have on trimming closed. to of need some goals? fat into stands, will your

Elias Zerhouni

you do Adam, that? answer to want

Adam Logal

Sure.

not or Destiny, those that sales ability offerings us our infrastructure is costs numbers. like to costs to So get that the make closed of transaction to us footprint new now investments It the There's product we've profitability an that back simply There's get the the the nonrecurring for profitable. key with that. are business business. force not existing size the able or just significant giving and reduce we're to the expansion Labcorp anything be those we incurring, need us to an into to

weeks that So we're, I'll from call away it, point.

Elias Zerhouni

multiple laboratories closed to we all and the of that as Florida facilities the way from part Remember California process.

New New Jersey improve where So by focusing we our have profitability have efficiencies majority I we will focusing the because rightsized but the we York, also believe, provide think And we there we definitely resources. both the that of opportunities for for in also market, think lab growth. area, can

Operator

Wainwright H.C. Company. of Chen Yi from & comes question next The

Yi Chen

could could have the how existing reasons to oral that? potentially drugs for outperformance the I you adoption one of mean, better much the -- to you which peptide. daily dual-agonist compared weekly between do you also, expect GLP-X market? And for show in terms also the marketed think OPK-XXXXX, Do and on and it version, version do So market comment you efficacy subcu

Elias Zerhouni

Thank the question. for you

it the when peptide One on composition or the has market way at semaglutide or it factors. I the the to place, Ingelheim semaglutide. obviously forms you oral. think other and we simply the injectable the evolved, have compared all differences. think, So really of only they There's and tirzepatide have X will because oral Bohringer no as one is compounds, both look oral And the depends of the forms a there's

be actually maybe think you time, to go have of in Once form. where will therapy and these But an be through all observation an form, that you've molecules control I sustain that oral And of might clinical the side the performance injectable you will gone over the weight will effects phases on necessary. the of patients all that forms to the to way better to have then it of depend necessary make. and terms loss

we patients glucagon may of for have do. If a here patients receptors really NASH, idea who that GLP-X co-agonist the will better you steatohepatitis. And but the continuum liver, roll said provide a a exist have care to notice, for glucagon from don't addition. the peptide, this who is the in then Remember, disease, benefit liver receptors

is we will biological these of the there have, who all This peptides. will of We're it. would that speculation. differentiated for doing We'll action prove a especially those be have appropriate ones, to have more class liver patients, you'll be other new malfunction that hope, from and a So that. evidence be

Yi Chen

a compared safety semaglutide the have better In profile terms it could to tirzepatide? do of safety, think potentially or you

Elias Zerhouni

giving oral oral blood. mean, side have peptide to daily dose. nausea, you're because And that call are of forms these in the we I we an that that the rise will ability effects what maximum certainly related the the we see diarrhea know vomiting, definitely,

than week in oral give you terms effects the an you side give form, every that be the prone side or giving less because which much so And think to you're by you deleterious is of form patient, would received less oral dose what would effects. the

what in I other will the be not less would more is once-a-week a one because way evidence that or able the added be there's market the than today other one, injectable. to Now speculate no or on

Operator

The next Edward Piper Sandler. from question Tenthoff comes of

Edward Tenthoff

this progress, some to company strengthen releases sheet Congrats wondering with should efforts. next ModeX be all should question And really cancer escalation Would be with you what the as My meeting? asset? more and respect I'm to data do you'll of had cohorts terms get in of develop balance something expecting really interesting? guidance we on the parts all and likely Is year. in medical moving forward. then this expecting be update at a where things these going might finance ultimately, to we kind expansion of terms the the what And you

Elias Zerhouni

coming as obviously Yes. inform to we want We data have out.

and is have to we for phase the second MDXXXXX, that this of tolerated that's end do to is in when have any the comes in that day, ability The is platform really first the the show terms at cancer platform the okay? the the this be clinic, tolerated, of performance XXXX, -- readouts data. we of mid one in humans well any that patients. Then its So side the in of first tumor. Because to we will the in efficacy what first of is in effects or the which antidrug antibodies, see

of we would that depending hopefully. at time, then on So basically I that get middle will be the 'XX, basically MDXXXXX will into And results what trial think. a probably to pivotal are, approved go

So that's one.

nearing are that other MDXXXXX everything really have clearly, and hear then The INDs before second which medical about. is on molecules, else. will data present But will you we X you

platform us, might in that are have news parties interested happens. that is to of if sort be third news with collaborate The and a that that that we our we'll share definitely

that XX months. targets will specific us then technologies that and information clinical any coming on X clinic, emerging except over up others in see Emerging oncology. MDXXXXX data with the things So those next programs, won't you to collaborate in are the the want they're have the the you that and fact

Edward Tenthoff

just that But to helpful. a care Obviously, whether follow-up. be be we asset activity and from you your of combining what where what do is. going care other depend more? you other agents That's dependent data? the Or And standard of with there's ultimately chemotherapy, envision targeted maybe data that see quick sort really just somewhat on or IO other of agents, will the see cancers on standard

Elias Zerhouni

Absolutely.

mean, I it's it. understand You clear.

that, the what shows effect self-evident what Once question do combination number we monotherapy. Your one, cancer, and subtype conditions, to what step. we then have as be will show a under in and a

enter in go show to in gone third patients, know, Phase from, patients then and to Absolutely, development, first we tend other the cancer say, forms you up line yes. that as other and therapies with second who've combine we to with even II failed. And you line. line we through I fourth line, to of we let's essentially And once therapies. As go Phase forward an already tend those have effect on you development to

So a absolutely be And development natural your of phase the would that of on the molecule MDXXXXX. evolution question target. is like

Operator

The Research. next Barrington of Petusky question comes from Michael

Michael Petusky

line in what take So thinking sort assumptions you in your terms it's terms for cash growth, are top get expectations, to of in Adam, you performance around 'XX, of of going of flow are business? to BioReference what top positive terms the that decline? what in Like modest line flat, modest to

Adam Logal

question. the for Mike, thanks

we in our numbers. QX answer is the full through growth go a meaningful the guide. shorter achieve you year But we're to So give good expect those here short when is answer guidance we going don't big to

Michael Petusky

more million investment few I I I'm investment really And to for in additional -- just there years? $XX initial it a situation mean up to in to Great. more next to revenue what mean, curious, a Rayaldee in of that $XX over Is And what never product? the has terms get would hope. in pathway lived is annual take this million it this Okay. is the Rayaldee, then it trials? obviously, sales?

Phillip Frost

or the it's a -- a dialysis. delay certain the there, Phil. I'll in PTH of that initiatives patients delay onset CKD put several working This that and we with of for whom and indicating in of the will We're a is the certain elevated of new take level slow chronic it. in requirement kidney time at interest on period lowering there is of for progression together, data lot the recently disease

data that really into marketing is data turns up, and that to of program. mouthful. that, leaders present a and buying as hopeful thought be new it, it The if -- we're to a this So will. about that holds good. holds If up, that we're out having looks part said are The

see what happens. we'll So

Michael Petusky

common good. Actually, another this of could, more is authorization, All of one -- it like initial more Or Adam, when future the there Very be what's one you repurchase that The of quick we -- official for will mean, authorization? I sort one the the if guys Adam. Okay. stock? right. share share I the repurchase, likely

Adam Logal

Yes.

we X/X Phil announce about comments. earlier what the the to And year. his have in capital used program, program. allocation we've and Board an a to the authorized we'll have expanded don't under enough So extent program, that we this of to alluded

you'll announcement hear that's there. say through when about I'd -- So another it we get

Operator

This concludes back closing Frost would like turn any our Dr. session. to question-and-answer over conference I for to the remarks.

Phillip Frost

in to a with have story Well, meeting interesting questions. we'll for you for at point. tell more look And again thank hopefully, you your few months. participating to We that even an forward excellent and

Operator

for today's has presentation. Thank The now conference concluded. attending you

disconnect. now may You

OPKO Health (OPK) 7 Nov 242024 Q3 Earnings call transcript