uploads///Opko Health

How Opko Health Fared in the Second Quarter of 2018

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Aug. 9 2018, Updated 12:30 p.m. ET

Revenue trends

Opko Health (OPK) generated net revenues of $263.7 million in the second quarter of 2018 compared to $292.6 million in the second quarter of 2017. That reflects a 10% YoY (year-over-year) decline.

In the second quarter, its services division and products generated revenues of $216.1 million and $28.5 million, respectively, compared to $233.9 million and $29 million, respectively, in the second quarter of 2017. In the products segment, Rayaldee generated revenues of $4.8 million.

Opko Health also generated revenues of $19.1 million from the transfer of intellectual property in the second quarter. Those same revenues were $29.7 million in the second quarter of 2017.

In the first half of 2018, the company had revenues of $518.6 million compared to $559 million in the first half of 2017.

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Opko Health’s services business generated revenues of $427.4 million in the first half of 2018, while its products segment had revenues of $51.2 million. Its net revenues were $34.8 million from the transfer of intellectual property in the first half of the year compared to $45.3 million in the first half of 2017.

Earnings trends

In the second quarter, Opko Health reported a net loss of $6.2 million compared to a net loss of $16.9 million in Q2 2017. In the first half of 2018, it reported a net loss of $49.3 million compared to a net loss of $51.4 million in the first half of 2017.

In the second quarter, it reported a diluted loss per share of $0.01 compared to a loss of $0.04 in Q2 2017. In the first half of 2018, it reported a diluted net loss per share of $0.09 compared to a diluted net loss per share of $0.11 in the first half of 2017.

In the second quarter, Opko Health’s revenues and net loss benefited $10 million as a non-recurring milestone payment for Varubi.

Opko Health’s peers Acadia Pharmaceuticals (ACAD), Ionis Pharmaceuticals (IONS), and Progenics Pharmaceuticals (PGNX) reported revenues of $57.06 million, $117.75 million, and $3.88 million, respectively, in the second quarter.

In the next part of this series, we’ll look at Opko Health’s expenses trend for the first half of the year and some of the company’s recent developments.

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