OPKO HEALTH, INC. Files 2023 Annual Report on Form 10-K
Ticker: OPK · Form: 10-K · Filed: Mar 1, 2024 · CIK: 944809
| Field | Detail |
|---|---|
| Company | Opko Health, INC. (OPK) |
| Form Type | 10-K |
| Filed Date | Mar 1, 2024 |
| Risk Level | medium |
| Pages | 14 |
| Reading Time | 17 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: OPKO HEALTH, OPK, 10-K, Annual Report, Pharmaceuticals
TL;DR
<b>OPKO HEALTH, INC. (OPK) has filed its 2023 10-K report detailing financial performance and operational status.</b>
AI Summary
OPKO HEALTH, INC. (OPK) filed a Annual Report (10-K) with the SEC on March 1, 2024. OPKO HEALTH, INC. filed its annual report for the fiscal year ended December 31, 2023. The filing includes financial data for the fiscal years 2023, 2022, and 2021. Key financial figures such as revenue, net income, and EPS are detailed within the report. The company operates within the Pharmaceutical Preparations industry (SIC 2834). The report provides a comprehensive overview of the company's business, financial condition, and results of operations.
Why It Matters
For investors and stakeholders tracking OPKO HEALTH, INC., this filing contains several important signals. This 10-K filing provides investors with the most current and comprehensive financial and operational data for OPKO HEALTH, INC., crucial for assessing the company's performance and future prospects. Understanding the detailed financial statements, risk factors, and executive compensation outlined in this report is essential for making informed investment decisions regarding OPKO HEALTH, INC.
Risk Assessment
Risk Level: medium — OPKO HEALTH, INC. shows moderate risk based on this filing. The company's financial performance and future outlook are subject to various risks and uncertainties inherent in the pharmaceutical industry, as detailed in the extensive risk factors section of the 10-K.
Analyst Insight
Investors should carefully review the financial statements and risk factors in the 10-K to understand OPKO HEALTH, INC.'s current financial health and potential challenges.
Revenue Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Service | ||
| Product | ||
| Transfer of Intellectual Property and Other |
Key Numbers
- 2023-12-31 — Fiscal Year End (Reporting period)
- 2024-03-01 — Filing Date (Date of submission)
- 781,936,885 — Total Assets (As of December 31, 2023)
- 8,655,082 — Net Income (For the year ended December 31, 2023)
Key Players & Entities
- OPKO HEALTH, INC. (company) — Filer name
- OPK (company) — Ticker symbol
- 2023-12-31 (date) — Fiscal year end
- 2024-03-01 (date) — Filing date
- MIAMI (location) — Business address city
- FL (location) — Business address state
- 33137 (location) — Business address zip
- 2834 (industry) — Standard Industrial Classification
FAQ
When did OPKO HEALTH, INC. file this 10-K?
OPKO HEALTH, INC. filed this Annual Report (10-K) with the SEC on March 1, 2024.
What is a 10-K filing?
A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by OPKO HEALTH, INC. (OPK).
Where can I read the original 10-K filing from OPKO HEALTH, INC.?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by OPKO HEALTH, INC..
What are the key takeaways from OPKO HEALTH, INC.'s 10-K?
OPKO HEALTH, INC. filed this 10-K on March 1, 2024. Key takeaways: OPKO HEALTH, INC. filed its annual report for the fiscal year ended December 31, 2023.. The filing includes financial data for the fiscal years 2023, 2022, and 2021.. Key financial figures such as revenue, net income, and EPS are detailed within the report..
Is OPKO HEALTH, INC. a risky investment based on this filing?
Based on this 10-K, OPKO HEALTH, INC. presents a moderate-risk profile. The company's financial performance and future outlook are subject to various risks and uncertainties inherent in the pharmaceutical industry, as detailed in the extensive risk factors section of the 10-K.
What should investors do after reading OPKO HEALTH, INC.'s 10-K?
Investors should carefully review the financial statements and risk factors in the 10-K to understand OPKO HEALTH, INC.'s current financial health and potential challenges. The overall sentiment from this filing is neutral.
Key Dates
- 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
- 2024-03-01: Filing Date — Date the 10-K was officially submitted to the SEC.
Filing Stats: 4,347 words · 17 min read · ~14 pages · Grade level 15.3 · Accepted 2024-03-01 16:07:46
Key Financial Figures
- $0.01 — 7 shares of its common stock, par value $0.01 per share ("Common Stock") outstanding.
Filing Documents
- opk20231231_10k.htm (10-K) — 3767KB
- ex_570696.htm (EX-21.0) — 17KB
- ex_570697.htm (EX-23.1) — 7KB
- ex_570698.htm (EX-31.1) — 12KB
- ex_570699.htm (EX-31.2) — 12KB
- ex_570700.htm (EX-32.1) — 4KB
- ex_570701.htm (EX-32.2) — 4KB
- ex_625568.htm (EX-97.1) — 64KB
- pg01.jpg (GRAPHIC) — 37KB
- 0001437749-24-006285.txt ( ) — 19109KB
- opk-20231231.xsd (EX-101.SCH) — 123KB
- opk-20231231_cal.xml (EX-101.CAL) — 132KB
- opk-20231231_def.xml (EX-101.DEF) — 1133KB
- opk-20231231_lab.xml (EX-101.LAB) — 818KB
- opk-20231231_pre.xml (EX-101.PRE) — 1186KB
- opk20231231_10k_htm.xml (XML) — 3403KB
Business
Business 7 Item 1A.
Risk Factors
Risk Factors 28 Item 1B. Unresolved Staff Comments 52 Item 1C. Cybersecurity 52 Item 2.
Properties
Properties 53 Item 3.
Legal Proceedings
Legal Proceedings 53 Item 4. Mine Safety Disclosures 53 Part II. 54 Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 54 Item 6. [Reserved.] 55 Item 7.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 56 Item 7A.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 75 Item 8.
Financial Statements and Supplementary Data
Financial Statements and Supplementary Data 76 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 121 Item 9A.
Controls and Procedures
Controls and Procedures 121 Item 9B. Other Information 121 Item 9C. Disclosure regarding Foreign Jurisdictions that Prevent Inspections. 121 Part III. 122 Item 10. Directors, Executive Officers and Corporate Governance Item 11.
Executive Compensation
Executive Compensation Item 12.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters Item 13. Certain Relationships and Related Transactions and Director Independence Item 14. Principal Accounting Fees and Services Part IV. 123 Item 15. Exhibits, Financial Statement Schedules 123 Item 16. Form 10-K Summary 123
Signatures
Signatures 136 Certifications 137 EX-21 EX-23.1 EX-31.1 EX-31.2 EX-32.1 EX-32.2 EX-101. INS XBRL Instance Document EX-101.SCH XBRL Taxonomy Extension Schema Document EX-101.CAL XBRL Taxonomy Extension Calculation Linkbase Document EX-101.DEF XBRL Taxonomy Extension Definition Linkbase Document EX-101.LAB XBRL Taxonomy Extension Label Linkbase Document EX-101.PRE XBRL Taxonomy Extension Presentation Linkbase Document 3 Table of Contents CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains "forward-looking statements," as that term is defined under the Private Securities Litigation Reform Act of 1995 ("PSLRA"), Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements include statements about our expectations, beliefs or intentions regarding our product development efforts, business, financial condition, results of operations, strategies or prospects, operating results, cash flows and/or financial condition. You can identify forward-looking statements by the fact that these statements do not relate strictly to historical or current matters. Rather, forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause our actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause our actual activities or results to differ materially from the activities and results anticipated in forward-looking statements. These factors include those described below and in "Item 1A-Risk Factors" of this Annual Report on Form 10-K. We do not undertake an obligation to update forward-
BUSINESS
ITEM 1. BUSINESS OVERVIEW We are a diversified healthcare company that seeks to establish industry-leading positions in large and rapidly growing medical markets. Our pharmaceutical business features Rayaldee , a U.S. Food and Drug Administration ("FDA") approved treatment for secondary hyperparathyroidism ("SHPT") in adults with stage 3 or 4 chronic kidney disease ("CKD") and vitamin D insufficiency, and Somatrogon (hGH-CTP), a once-weekly human growth hormone injection for which we have partnered with Pfizer Inc. ("Pfizer") with respect to Somatrogon (hGH-CTP)'s further development and commercialization. Regulatory applications for Somatrogon (hGH-CTP) for the treatment of children and adolescents as young as three years of age with growth disturbance due to insufficient secretion of growth hormone, have been approved in more than 50 markets worldwide, including the United States, European Union Member States, Japan, Canada, and Australia under the brand name NGENLA . Additionally, in May 2022, we acquired ModeX Therapeutics, Inc. ("ModeX"), a biotechnology company focused on developing innovative multi-specific immune therapies for cancer and infectious disease candidates. ModeX has a robust early-stage pipeline with assets in key areas of immuno-oncology and infectious diseases, and we intend to further expand our pharmaceutical product pipeline through ModeX's portfolio of development candidates. Our diagnostics business includes BioReference Health, LLC ("BioReference"), one of the nation's largest full service laboratories with a significant sales and marketing team designed to drive growth and leverage new products. Through BioReference, we offer our 4Kscore prostate cancer test. Through BioReference, we provide laboratory testing services, primarily to customers in the larger metropolitan areas in New York, New Jersey, Florida, Texas, Maryland, Indiana, Virginia, California, Pennsylvania, Delaware, Washington, DC, Illinois and Massachusetts, as well