OPKO Health Q3 Net Loss Deepens, Revenues Improve
OPKO Health shares dipped slightly in the wake of the company's release of its Q3 financial and operating highlights. For the quarter, consolidated revenues were $20.6 million, almost double the $11.8 million in the same period the previous year. The bottom line went in the opposite direction, with the company's net loss coming in at $60 million, compared with Q3 2012's shortfall of just over $10 million.
It was a busy quarter for the sprawling and acquisitive company, particularly in terms of asset investments. It finalized the acquisition of one biopharmaceutical company, PROLOR Biobech, and took stakes in two others, Zebra Biologics and Arno Therapeutics.
The company's stock slumped by 0.2%, or $0.02, to close at $10.29 in trading today.
The article OPKO Health Q3 Net Loss Deepens, Revenues Improve originally appeared on Fool.com.Fool contributor Eric Volkman has no position in OPKO Health. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.