OPKO Health (OPK) Scores Deal to Provide COVD-19 Tests in NYC

Alerts

(NEW YORK)–BioReference Laboratories, Inc., a subsidiary of OPKO Health (NASDAQ:  OPK), today announced collaboration with the New York City Health and Hospital Corporation to provide testing for the COVID-19 virus in NYC.

NYC Health + Hospitals is the largest public health care system in the nation serving more than a million New Yorkers annually in more than 70 patient care locations across the city’s five boroughs.

The Chairman of BioReference Laboratories, Jon R. Cohen, M.D., sat next to Mayor DeBlasio in NYC press conference discussing how OPK will work going forward to providing tests for New York City, the largest city in the US.

“In support of the public health system as they provide healthcare to vulnerable and at-risk populations, BioReference is committed to prioritizing hospital patients suspected of COVID-19 infections and aid front-line physicians and healthcare providers to quickly and efficiently diagnose patients,” said Jon R. Cohen, M.D., Executive Chairman of BioReference Laboratories.

“In addition to the drive-through facilities, this collaboration is yet another example of how the private sector can assist with government agencies to help combat this epidemic.”

BioReference Laboratories is one of the nation’s largest full-service clinical laboratories, and positions OPK to being a key player in the highly needed testing for the COVD-19 virus in the US.

The company is in network with the five largest health plans in the United States, operates a network of 10 laboratory locations, and is backed by a medical staff of more than 160 MD, PhD and other professional level clinicians and scientists. www.bioreference.com

OPK Price Outlook

OPK stock has been building greater interest with investors as testing has become a critical issue in news in past weeks. The stock is currently breaking above its key 200-day moving average, which is around $1.80 per share. The stock has some heavily short positions in stock, but as continued news exposure of OPK continues look for the log jam to eventually break and see stock trading potentially in the $4.00 to $6.00 range in coming weeks.

OPK BioReference Laboratories has numerous offices in Manhattan, NY so look for them to gain more media exposure as national news media seek out test providers within area for guest speakers to discuss testing, and coronavirus on national news segments.

About OPKO Health

OPKO Health is a diversified healthcare company. In diagnostics, its BioReference Laboratories is one of the nation’s largest full-service clinical laboratories; GeneDx is a rapidly growing genetic testing business; the 4Kscore® test is used to assess a patient’s individual risk for aggressive prostate cancer following an elevated PSA and to help decide about next steps such as prostate biopsy; Claros® 1 is a point-of-care diagnostics platform with a total PSA test approved by the FDA. In our pharmaceutical pipeline, RAYALDEE is our first pharmaceutical product to be marketed. OPK88003, a once-weekly oxyntomodulin for type 2 diabetes and obesity – reported positive data from a Phase 2 clinical trial. It’s among a new class of GLP-1/glucagon receptor dual agonists. OPK88004, a SARM (selective androgen receptor modulator) is currently being studied for various potential indications. The Company’s most advanced product utilizing its CTP technology, a once-weekly human growth hormone for injection, successfully met its primary endpoint and key secondary endpoints in a Phase 3 study and is partnered with Pfizer. OPKO also has research, development, production and distribution facilities abroad.

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