September 11, 2018 8:30am EDT
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MIAMI--(BUSINESS WIRE)--
OPKO Health, Inc. (NASDAQ:OPK) has had trading in its common stock
halted by The Nasdaq Stock Market, and the exchange has advised OPKO
that the halt will continue until the company responds (to Nasdaq’s
satisfaction) to the exchange’s request for information related to the
previously reported lawsuit filed by the U.S. Securities and Exchange
Commission against a number of individuals and entities, including OPKO
and its CEO and Chairman Phillip Frost. As noted previously, the lawsuit
does not contain any allegations about OPKO’s financial practices,
financial statements or business practices, and OPKO is confident that
once a proper investigation is completed and the facts of the case have
been fully disclosed, the matter will be resolved favorably for the
company. OPKO is working expeditiously to respond to Nasdaq’s request
for information, but it cannot currently estimate when trading will
resume.
About OPKO Health, Inc.
OPKO Health is a diversified healthcare company. In diagnostics, its
BioReference Laboratories is the nation's third largest clinical
laboratory; GeneDx is a rapidly growing genetic testing business; the
4Kscore® prostate cancer test is used to confirm an elevated PSA to help
decide about next steps such as prostate biopsy; Claros® 1 is a point of
care diagnostics platform with PSA and testosterone as the most advanced
in development. In our pharmaceutical pipeline, RAYALDEE is our first
pharmaceutical product to be marketed. OPK88003, a once weekly
oxyntomodulin for type 2 diabetes and obesity in Phase 2 clinical
trials, is among a new class of GLP-1 glucagon receptor dual agonists.
OPK88004, a SARM (Selective Androgen Receptor Modulator) for treating
BPH (Benign Prostatic Hypertrophy), urinary incontinence and other
conditions is in clinical trials. The Company’s most advanced product
utilizing its CTP technology, a once-weekly human growth hormone for
injection, is in Phase 3 trials and is partnered with Pfizer.
OPKO has research, development, production and distribution facilities
abroad. More information is available at www.opko.com .
Cautionary Statement Regarding Forward-Looking Statements
This press release contains "forward-looking statements," as that term
is defined under the Private Securities Litigation Reform Act of 1995
(PSLRA), which statements may be identified by words such as "expects,"
"plans," "projects," "will," "may," "anticipates," "believes," "should,"
"intends," "estimates," and other words of similar meaning, including
statements regarding the outcome of the SEC lawsuit and the trading in
OPKO’s common stock, as well as other non-historical statements about
our expectations, beliefs or intentions. The forward-looking statements
contained in this press release speak only as of the date the statements
were made, and we do not undertake any obligation to update
forward-looking statements. We intend that all forward-looking
statements be subject to the safe-harbor provisions of the PSLRA.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180911005368/en/
Sard Verbinnen & Co
Jamie Tully or Devin Broda, 212-687-8080
or
LHA
Investor Relations
Miriam Weber Miller, 212-838-3777
or
Bruce
Voss, 310-691-7100
Source: OPKO Health, Inc.
Released September 11, 2018
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