OPKO Health, Inc. reported its financial results for the second quarter of 2026, revealing total revenues of $163.6 million, a 4% increase from $156.8 million in the same period last year. The revenue breakdown included $74.5 million from services, down 26% year-over-year, and $42.9 million from product sales, which saw a 5% increase. Notably, revenue from the transfer of intellectual property surged to $46.1 million, up 208% from $15 million in the prior year, primarily due to a significant gain from an investment in Nicoya Therapeutics.
The company experienced a substantial reduction in operating loss, which narrowed to $6.9 million from $60 million in the previous year, reflecting a 88% improvement. This was attributed to a decrease in total costs and expenses, which fell by 21% to $170.6 million, driven by lower costs associated with the divestiture of its oncology diagnostics business to Labcorp in September 2025. Selling, general, and administrative expenses also decreased by 11% to $52.9 million, while research and development expenses rose slightly by 9% to $33.2 million.
In terms of operational metrics, OPKO's diagnostics segment, which includes BioReference Health, reported a significant decline in service revenue, primarily due to the completion of the Oncology Transaction. The company noted that approximately 33.3% of its revenue for the first half of 2026 was denominated in currencies other than the U.S. dollar, compared to 24.5% in the same period of 2025, indicating increased exposure to foreign currency fluctuations.
Strategically, OPKO has been active in expanding its pharmaceutical pipeline, particularly through its subsidiary ModeX Therapeutics, which focuses on developing innovative therapies for cancer and infectious diseases. The company has also made significant strides in the commercialization of its products, including NGENLA®, a human growth hormone injection, which has received regulatory approvals in over 50 markets worldwide. Looking ahead, OPKO remains focused on leveraging its partnerships and product development efforts to enhance its market position and drive future growth.
About OPKO HEALTH, INC.
OPKO Health is a diversified healthcare company specializing in pharmaceuticals, diagnostics, and biologics. It develops and commercializes therapies like long-acting growth hormone (NGENLA) and treatments for kidney disease, while operating diagnostic labs and advanced biotech pipelines. Its core markets include the U.S., Europe, Asia, and Latin America, leveraging proprietary technologies, strategic partnerships, and a global footprint to address unmet medical needs in endocrinology, oncology, infectious diseases, and personalized medicine.
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