OPKO Health, Inc. (OPK) CEO Phil Frost Presents at 39th Annual JPMorgan Virtual Healthcare Conference (Transcript)

OPKO Health, Inc. Conference Call Summary Company Overview - Company: OPKO Health, Inc. (NASDAQ: OPK) - Event: 39th Annual JPMorgan Virtual Healthcare Conference - Date: January 13, 2021 Key Points Industry and Company Position - OPKO operates in the healthcare sector with two main platforms: a pharmaceutical platform and a diverse diagnostic platform [4][5] - BioReference Labs is highlighted as the third largest full-service reference lab in the U.S. [4] Pharmaceutical Platform - RAYALDEE: The only FDA-approved extended-release pro-hormone for treating secondary hyperparathyroidism in stage 3 and 4 chronic kidney disease [11] - Total prescriptions increased by 13% in Q3 2020 compared to Q3 2019 [12] - Somatrogon: A once-weekly treatment for children with growth hormone deficiency, with a PDUFA date set for October 2021 [6][10] - Clinical trials showed higher height velocity compared to daily GENOTROPIN [7][8] - Pfizer is responsible for worldwide commercialization, with potential milestone payments of up to $275 million [10][15] Diagnostic Platform - BioReference Labs served 19 million patients in 2020, up from 11 million in 2019, with daily requisitions increasing from 40,000 to 115,000 [18] - Significant investments were made in laboratory facilities across multiple states [19] - The company has established itself as a leader in COVID-19 testing, conducting over 10 million PCR tests [26] COVID-19 Response - OPKO has implemented large-scale COVID-19 screening programs across various sectors, including education and sports [21][24] - Partnerships with major organizations, including the NFL and NBA, for COVID-19 testing [24][25] - Customized solutions for large employers and public health initiatives [22][28] Financial Performance - Q3 2020 revenue reached over $428 million, doubling 2019 revenues [38] - The company reported profitability in Q3 and expects to maintain profitability through Q4 2020 [39] Future Outlook - Continued focus on expanding COVID-19 testing capabilities and customized solutions [28] - Plans to submit for approval of Somatrogon in adults after pediatric approval [15] - Ongoing development of long-acting therapies and digital health initiatives [31][36] Additional Insights - The chronic kidney disease market is significant, with rising prevalence due to obesity, diabetes, and hypertension [12] - GeneDx is a leader in pediatric rare disease genetic testing, performing nearly 5,000 exomes a month [35] - The company is leveraging digital health solutions to enhance patient experience and streamline lab testing processes [31][32] Conclusion - OPKO Health, Inc. is positioned for growth in both its pharmaceutical and diagnostic platforms, with a strong focus on addressing unmet medical needs and expanding its market presence through innovative solutions and strategic partnerships.