OPKO Health, Inc. (NASDAQ:OPK) Q3 2024 Earnings Conference Call November 7, 2024 4:30 PM ET

Company Participants

Yvonne Briggs - Alliance Advisor, IR
Phillip Frost - Chairman and CEO
Elias Zerhouni - Vice Chairman, President
Adam Logal - CFO

Conference Call Participants

Maury Raycroft - Jefferies
Yi Chen - H.C. Wainwright
Edward Tenthoff - Piper Sandler
Michael Petusky - Barrington Research

Operator

Good day, and welcome to the OPKO Health Third Quarter of 2024 Financial Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Yvonne Briggs. Please go ahead.

Yvonne Briggs

Thank you, operator, and good afternoon. This is Yvonne Briggs with Alliance Advisors Investor Relations. Thank you all for joining today's call to discuss OPKO Health's financial results for the third quarter of 2024.

I'd like to remind you that any statements made during this call by management other than statements of historical fact will be considered forward-looking, and as such will be subject to risks and uncertainties that could materially affect the company's expected results. Those forward-looking statements include, without limitation, the various risks described in the company's SEC filings, including the annual report on Form 10-K for the year ended December 31, 2023, and in subsequently filed SEC reports.

This conference call contains time-sensitive information that is accurate only as of the date of the live broadcast, November 7, 2024. Except as required by law, OPKO undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this call.

Before we begin, let me review the format for today's call. Dr. Philip Frost, Chairman and Chief Executive Officer, will open the call. Dr. Elias Zerhouni, Vice Chairman and President, will then provide an overview of BioReference Health as well as OPKO's pharmaceutical business. After that, Adam Logal, OPKO's CFO, will review the company's third quarter financial results and provide fourth quarter financial guidance, and then we'll open up the call to questions.

Now I'd like to turn the call over to Dr. Frost.

Phillip Frost

Good afternoon, and thank you for joining us today. We had a good third quarter with positive developments in both our diagnostics and pharmaceutical segments. Significant progress has been made to put BioReference on a clear path to profitability after selling certain assets to LabCorp. We continue the development of the ModeX technology product portfolio. Pfizer has successfully launched NGENLA in all priority markets, and we continue to be enthusiastic about positive animal studies of our once-weekly injectable dual-GLP-1 glucagon agonist program. Our collaboration with Entera Bio on an orally delivered once-daily version of our oxyntomodulin also shows great promise in animal studies.