OPK · OPK Q2 FY2026 earnings call record财报电话会记录

“During the second quarter, we made meaningful progress in improving operating efficiency and profitability and in advancing our product pipeline.”

“of our GLP-1 glucagon candidate, and we plan to enroll 44 healthy volunteers and presumed MASH patients to assess single-dose tolerability and pharmacokinetics.”

“Finally, MDX-2301, our fifth ModeX program in the clinic, fully funded by BARDA, is a multi-specific COVID-19 antibody that has been shown to be active against all prior and current circulating variants of the virus, aimed at the prevention of COVID-19, primarily in high-risk immunocompromised patients.”

“During the quarter, we repurchased 9.7 million shares for approximately $13 million.”

“In the transaction that closed in September 2025, revenue from our retained business declined approximately $1.7 million versus the prior year, principally due to test mix changes as we continue to see the impact of shifting certain unprofitable but higher-priced esoteric testing to our strategic partners.”

“Revenue from product sales increased to $42.9 million, up from $40.7 million, reflecting higher sales volumes in our international operations and foreign exchange tailwinds during the 2026 quarter, along with improved RAYALDEE gross to net benefits, which were partially offset by the timing of delivery of certain products within our CDMO business.”

“As we continue to focus on the profitability of RAYALDEE, the gross to net improvements we began to realize last year have resulted in meaningful cash flow from operations in 2026 while maintaining overall revenue levels.”

“Our Pfizer gross profit share was $6.4 million for the quarter, an increase to 2025's $6.1 million.”

“Looking forward to our outlook for the third quarter of 2026, we expect revenue to be $131 million-$142 million, with revenue from services of $75 million-$78 million, which reflects several assumptions around testing volumes and reimbursement pricing mix.”

“We expect pharmaceutical product revenue of $40 million-$44 million, we expect IP and other revenue to be between $16 million and $20 million, including Pfizer profit share of $8 million-$10 million.”

“We think that we're following a path that is significantly de-risked by prior clinical data, and we will move as quickly as we can through the dose escalation, initially intravenously, and then I think as Elias mentioned, also through the subcutaneous routes to follow on, and that will be our first priority.”

“We were quite pleased with the progress that Pfizer's made and feel like the gross profit share is precisely on track to the first-half guide, and we expect the full year to come in within that $34 million-$37 million guide.”