OPKO HEALTH, INC.
OPK · Pharmaceutical Preparations · 755.1M shares · +6%/yr ↑ dilution · EDGAR filings ↗
Reference price $1.14 · est. market cap ~$857M — last insider purchase, 2026-03-20 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D50Loss-making diversified healthcare company propped up by asset-sale gains, with a recently terminated Phase 3 and several missed clinical endpoints.
Strengths
- Strong liquidity: cash 80.8th pct, current ratio 3.97, near-zero debt
- Royalty-bearing approved products (NGENLA/Somatrogon, Rayaldee) and BioReference divestiture cash
Risks
- Deeply negative profitability: net margin -37%, ROE -17.8%, operating margin -19%; revenue -15%
- Pediatric SHPT Phase 3 (CTAP101) terminated with no usable data and prior Phase 2/3 SHPT trials missed primary endpoints (p=0.10, p=0.55)
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Net lossNet loss (net margin -37.2%)
- FDA approvalFDA clearance/approval — 4Kscore Test (2025-07-25)
- Strong balance sheetStrong balance sheet — $379M cash & investments
- New fund positionNotable fund(s) opened this quarter: RENAISSANCE TECHNOLOGIES LLC
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, GOLDMAN SACHS GROUP INC, CITADEL ADVISORS LLC +2 more (as of 2026-03-31)
- Revenue declineRevenue -16.3% YoY
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
33.9%
Operating margin
-19.3%
Net margin
-37.2%
Return on equity
-17.8%
Return on assets
-11.7%
ROIC
-7.3%
Revenue growth (QoQ)
-16.3%
Debt / equity
0.0×
Current ratio
4.0×
EBITDA
-$26M
Tangible book value
$267M
Cash & investments
$379M
Stock comp / revenue
1.8%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-03-20 | PAGANELLI JOHN A | Buy | 10K | $1.14 |
| 2025-11-21 | FROST PHILLIP MD ET AL | Buy | 102K | $1.30 |
| 2025-11-21 | FROST PHILLIP MD ET AL | Buy | 3.9K | $1.32 |
| 2025-11-21 | FROST PHILLIP MD ET AL | Buy | 89K | $1.32 |
| 2025-11-21 | FROST PHILLIP MD ET AL | Buy | 191K | $1.33 |
| 2025-11-21 | FROST PHILLIP MD ET AL | Buy | 193K | $1.33 |
| 2025-11-20 | FROST PHILLIP MD ET AL | Buy | 119K | $1.32 |
| 2025-11-20 | FROST PHILLIP MD ET AL | Buy | 47K | $1.32 |
| 2025-11-20 | FROST PHILLIP MD ET AL | Buy | 212K | $1.33 |
| 2025-11-20 | FROST PHILLIP MD ET AL | Buy | 162K | $1.33 |
| 2025-11-20 | FROST PHILLIP MD ET AL | Buy | 25K | $1.34 |
| 2025-11-20 | FROST PHILLIP MD ET AL | Buy | 1.8K | $1.34 |
| 2025-11-20 | FROST PHILLIP MD ET AL | Buy | 14K | $1.35 |
| 2025-11-19 | FROST PHILLIP MD ET AL | Buy | 36K | $1.28 |
| 2025-11-19 | FROST PHILLIP MD ET AL | Buy | 58K | $1.28 |
| 2025-11-19 | FROST PHILLIP MD ET AL | Buy | 300 | $1.29 |
| 2025-11-19 | FROST PHILLIP MD ET AL | Buy | 21K | $1.29 |
| 2025-11-19 | FROST PHILLIP MD ET AL | Buy | 30K | $1.30 |
| 2025-11-19 | FROST PHILLIP MD ET AL | Buy | 13K | $1.30 |
| 2025-11-19 | FROST PHILLIP MD ET AL | Buy | 67K | $1.31 |
| 2025-11-19 | FROST PHILLIP MD ET AL | Buy | 199K | $1.31 |
| 2025-11-19 | FROST PHILLIP MD ET AL | Buy | 155K | $1.32 |
| 2025-11-18 | FROST PHILLIP MD ET AL | Buy | 410 | $1.25 |
| 2025-11-18 | FROST PHILLIP MD ET AL | Buy | 50K | $1.25 |
| 2025-11-18 | FROST PHILLIP MD ET AL | Buy | 67K | $1.25 |
| 2025-11-18 | FROST PHILLIP MD ET AL | Grant | 47K | $1.26 |
| 2025-11-18 | FROST PHILLIP MD ET AL | Buy | 15K | $1.26 |
| 2025-11-18 | FROST PHILLIP MD ET AL | Buy | 1.8K | $1.27 |
| 2025-11-18 | FROST PHILLIP MD ET AL | Buy | 213K | $1.27 |
| 2025-11-18 | FROST PHILLIP MD ET AL | Buy | 70K | $1.28 |
| 2025-11-18 | FROST PHILLIP MD ET AL | Buy | 428 | $1.28 |
| 2025-11-18 | FROST PHILLIP MD ET AL | Buy | 84K | $1.28 |
| 2025-11-18 | FROST PHILLIP MD ET AL | Buy | 1 | $1.29 |
| 2025-11-18 | FROST PHILLIP MD ET AL | Buy | 34K | $1.29 |
| 2025-10-31 | FROST PHILLIP MD ET AL | Buy | 150K | $1.42 |
| 2025-08-18 | FROST PHILLIP MD ET AL | Gift | 440K | — |
| 2025-08-08 | FROST PHILLIP MD ET AL | Buy | 675K | $1.32 |
| 2025-04-10 | FROST PHILLIP MD ET AL | Buy | 125K | $1.36 |
| 2025-04-08 | FROST PHILLIP MD ET AL | Buy | 125K | $1.48 |
| 2025-04-01 | FROST PHILLIP MD ET AL | Buy | 100K | $1.65 |
| 2025-03-28 | FROST PHILLIP MD ET AL | Buy | 150K | $1.70 |
| 2025-03-17 | FROST PHILLIP MD ET AL | Buy | 200K | $1.74 |
| 2025-02-28 | FROST PHILLIP MD ET AL | Buy | 67K | $1.71 |
| 2025-01-28 | FROST PHILLIP MD ET AL | Buy | 48K | $1.47 |
| 2025-01-17 | FROST PHILLIP MD ET AL | Buy | 150K | $1.47 |
| 2025-01-15 | FROST PHILLIP MD ET AL | Buy | 500K | $1.48 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT07512427 ↗ | Phase 1/2 Study of OPK-88006 in Healthy and Presumed MASH Participants MASH | PHASE1/PHASE2 | Not Yet Recruiting | 2027-12-01 |
| NCT07494045 ↗ | Pharmacokinetics, Pharmacodynamics, Safety and Tolerability Evaluation of CTAP101 Extended-release Capsules in Pediatric Participants CKD Stage 3, CKD Stage 4 | PHASE2 | Not Yet Recruiting | 2027-10-01 |
| NCT05543928 ↗ | Phase 3 Safety and Efficacy Study of CTAP101 Extended-release Capsules in Children With Secondary Hyperparathyroidism Chronic Kidney Disease stage3, Chronic Kidney Disease stage4 | PHASE3 | Terminated | 2024-06-19 |
| NCT02500316 ↗ | Long Term Follow up Study of Long-acting hGH (MOD-4023) in Growth Hormone Deficient Children Growth Hormone Deficiency (GHD) | PHASE2 | Completed | 2023-11-01 |
| NCT04551911 ↗ | Safety and Efficacy of Rayaldee for Treating Mild to Moderate COVID-19 COVID-19, Coronavirus | PHASE2 | Completed | 2021-10-08 |
| NCT03602261 ↗ | Safety, Efficacy, PK and PD of CTAP101 (Calcifediol) ER Capsules for SHPT in HD Patients VDI Secondary Hyperparathyroidism Due to Renal Causes, Chronic Kidney Diseases | PHASE2 | Terminated | 2021-02-24 |
| NCT04063644 ↗ | Quality of Life and Visual Acuity of Visglyc Eye Drops on Dry Eye Patients Dry Eye Syndromes, Cataract | NA | Completed | 2020-12-22 |
| NCT03762408 ↗ | Efficacy and Safety of a Intra-articular Injection, ENKO1, in Patients With Symptomatic Knee Osteoarthritis. Osteoarthritis, Knee | NA | Completed | 2020-05-29 |
| NCT03588884 ↗ | Repeated-dose Safety, Efficacy, Pharmacokinetic and Pharmacodynamic of CTAP101, Immediate-release Calcifediol, High-dose Cholecalciferol, and Paricalcitol Plus Low-dose Cholecalciferol in Patients With Secondary Hyperparathyroidism, Chronic Kidney Disease 3-4 and Vitamin D Insufficiency Secondary Hyperparathyroidism Due to Renal Causes, Vitamin D Insufficiency | PHASE4 | Completed | 2020-04-24 |
| NCT03874013 ↗ | Safety and Efficacy Study of MOD-4023 to Treat Children With Growth Hormone Deficiency Growth Hormone Deficiency | PHASE3 | Completed | 2020-03-06 |
| NCT02968004 ↗ | Safety and Efficacy Phase 3 Study of Long-acting hGH (MOD-4023) in Growth Hormone Deficient Children Pediatric Growth Hormone Deficiency | PHASE3 | Completed | 2019-08-01 |
| NCT03810664 ↗ | A Clinical Study Investigating the Comparability of Somatrogon in Two Different Drug Product Presentations Healthy Male Volunteers | PHASE1 | Completed | 2019-04-19 |
| NCT03297398 ↗ | Effects and Safety of OPK-88004 Doses in Men With Signs and Symptoms of Benign Prostatic Hyperplasia (BPH) Benign Prostatic Hyperplasia | PHASE2 | Terminated | 2019-04-18 |
| NCT03406377 ↗ | Effects and Safety of OPK-88003 Dose Escalation in Type 2 Diabetes Subjects Type 2 Diabetes Mellitus | PHASE2 | Completed | 2019-03-08 |
| NCT03660800 ↗ | Pharmacokinetics and Safety Study of CTAP101 Capsules in Japanese and Non-Japanese Healthy Subjects and Non-Japanese Healthy Subjects Vitamin D Insufficiency, Secondary Hyperparathyroidism | PHASE1 | Completed | 2018-10-24 |
| NCT02418793 ↗ | A Study of a Long-Acting r-Factor 7a (Factor VIIa) in Adult Men With Hemophilia A or B Hemophilia A, Hemophilia B | PHASE1 | Completed | 2018-09-01 |
| NCT04130776 ↗ | 4Kscore Using Serum Stored Uncentrifuged Prostate Cancer | — | Completed | 2018-03-27 |
| NCT02919800 ↗ | A Single-dose, Dose-escalation Study of a Long-acting MOD-5014 in Healthy Adult Male Hemophilia A or B With Inhibitors | PHASE1 | Completed | 2018-02-21 |
| NCT02274623 ↗ | Effect of CTAP101 Capsules on Ca/iPTH in Advanced Breast/Prostate Cancer Patients Treated With Denosumab/Zoledronic Acid Breast Cancer, Prostate Cancer | PHASE1 | Completed | 2017-02-27 |
| NCT03355651 ↗ | Efficacy and Tolerability of a Nutritional Supplement, Plactive Progen, in ACL Reconstruction ACL Reconstruction | NA | Completed | 2017-02-01 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Supply chain
Customers (1)
Suppliers (1)
Named in the 10-K; linked when we track them.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-18 | 2026-06-18 | 0001193125-26-275818 ↗ |
| 8-K | 2026-04-28 | 2026-04-28 | 0001193125-26-186939 ↗ |
| 10-Q | 2026-04-28 | 2026-03-31 | 0001193125-26-187007 ↗ |
| 8-K | 2026-03-19 | 2026-03-18 | 0001193125-26-116122 ↗ |
| 10-K | 2026-02-26 | 2025-12-31 | 0001193125-26-076596 ↗ |
| 8-K | 2026-02-26 | 2026-02-26 | 0001193125-26-076575 ↗ |
| 8-K | 2025-10-29 | 2025-10-29 | 0001193125-25-256325 ↗ |
| 10-Q | 2025-10-29 | 2025-09-30 | 0001193125-25-256328 ↗ |
| 8-K | 2025-09-15 | 2025-09-15 | 0001193125-25-203530 ↗ |
| 8-K | 2025-07-31 | 2025-07-31 | 0000950170-25-100891 ↗ |
| 10-Q | 2025-07-31 | 2025-06-30 | 0000950170-25-100908 ↗ |
| 8-K | 2025-05-29 | 2025-05-27 | 0000950170-25-079098 ↗ |