September 07, 2018 8:11pm EDT
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MIAMI--(BUSINESS WIRE)--
OPKO Health, Inc. (NASDAQ: OPK) provided the following comment on the
lawsuit filed by the U.S. Securities and Exchange Commission earlier
today.
“OPKO learned today that the Securities and Exchange Commission has
filed a lawsuit in the Southern District of New York against a number of
individuals and entities, including OPKO and its CEO and Chairman
Phillip Frost. The SEC failed to provide notice of its intent to sue
prior to filing the complaint, which contains serious factual
inaccuracies. Had the SEC followed its own standard procedures, OPKO and
Dr. Frost would gladly have provided information that would have
answered a number of the SEC’s apparent questions, and filing of this
lawsuit against them could have been avoided. OPKO and Dr. Frost have
always prided themselves on adhering to the highest standards of
financial disclosure, and they are 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 them.”
The Company noted that the complaint does not contain any allegations
about OPKO’s financial practices, financial statements or business
practices.
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, 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/20180907005536/en/
Sard Verbinnen & Co
Jamie Tully or Devin Broda, 212-687-8080
Source: OPKO Health, Inc.
Released September 7, 2018
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