Core Insights - OPKO Health, Inc. reported its business highlights and financial results for Q2 2025, indicating ongoing advancements in its clinical trials and product development [1][5]. Business Highlights - Merck is advancing a Phase 1 trial for an Epstein-Barr virus vaccine in collaboration with OPKO, evaluating safety and tolerability in 200 healthy adults [1]. - ModeX is progressing its immuno-oncology and immunology portfolio, with multiple clinical candidates, including MDX2001, which is in Phase 1 trials [1]. - OPKO presented promising preclinical data for OPK-88006, a dual agonist for treating metabolic disorders, showing superior therapeutic benefits compared to competitors [1]. - The FDA approved a supplemental application for the 4KScore® Test, allowing it to be performed without digital rectal examination information, enhancing its accessibility for prostate cancer assessment [1]. Financial Results - Total revenues for Q2 2025 were $156.8 million, down from $182.2 million in Q2 2024, with a net loss of $148.4 million, or $0.19 per share, compared to a net loss of $10.3 million, or $0.01 per share, in the prior year [5][13]. - Revenue from product sales was $40.7 million, slightly up from $40.5 million in Q2 2024, while revenue from services decreased to $101.1 million from $129.4 million [5][13]. - The company authorized an additional $100 million for its stock repurchase program, bringing the total capacity to $200 million, representing approximately 14% of OPKO's common shares outstanding [2]. Cash and Assets - As of June 30, 2025, OPKO had cash, cash equivalents, and restricted cash totaling $285.4 million [5]. - The company completed an exchange agreement to purchase $159.2 million of outstanding convertible notes for shares and cash [5].