Shares of Opko Health Inc. (NYSE:OPK) ended Thursday session in green amid volatile trading. The shares closed up 0.78 points or 7.62% at $11.01 with 7,544,896.00 shares getting traded. Post opening the session at $10.30, the shares hit an intraday low of $10.22 and an intraday high of $11.06 and the price vacillated in this range throughout the day. The 52-week high of (OPK) is $19.20 and the 52-week low is $7.12. The company has a market cap of $5.99B and the numbers of outstanding shares have been calculated to be 545.70 million shares.
Opko Health Inc. (OPK) announced dosing of the first subject in a Phase 1 single dose escalation study evaluating the safety and pharmacokinetics of a long-acting Oxyntomodulin (MOD-6031) in healthy, overweight or obese subjects. The study is intended to enroll 40 subjects in Israel.
Oxyntomodulin is a peptide hormone that acts as a dual GLP-1/Glucagon receptor agonist, with the potential to promote weight loss while improving glycemic control. Oxyntomodulin has been shown to increase energy expenditure, while reducing food intake and body weight, although its clinical utility is limited by its short circulating half-life. OPKO’s MOD-6031 has been designed, using a proprietary bi-functional hydrolysable linker, as a long-acting version of Oxyntomodulin for the treatment of Type II Diabetes and obesity, and is intended to reduce the required dosage frequency by prolonging the half-life, while improving the hormone’s pharmacokinetics and pharmacodynamics.
OPKO Health, Inc., a biopharmaceutical and diagnostics company, engages in the discovery, development, and commercialization of novel and proprietary technologies in the United States and internationally. It operates through two segments, Pharmaceuticals and Diagnostics. The company develops various solutions to diagnose, treat, and prevent various conditions, including point-of-care tests, molecular diagnostics tests, laboratory developed tests, and proprietary pharmaceuticals and vaccines. Its products include 4Kscore test that measures the blood plasma levels of four different prostate-derived kallikrein proteins. The companys lead product candidates comprise Rayaldee to treat secondary hyperparathyroidism in patients with stage 3 or 4 chronic kidney disease and vitamin D insufficiency; and Alpharen to treat hyperphosphatemia in stage 5 patients on chronic hemodialysis. It is also developing CTP, hGH-CTP for the treatment of growth hormone deficiency; Factor VII-CTP for the treatment of bleeding episodes in hemophilia A or B patients with inhibitors to Factor VIII or Factor IX; Inspiromatic, a powder inhaler for use in the therapy for asthma, chronic obstructive pulmonary disease, cystic fibrosis, and other respiratory diseases; and rolapitant for the prevention of chemotherapy induced nausea and vomiting, as well as focuses on the development of a long-acting oxyntomdulinGLP-1/glucagon dual receptor agonist. In addition, the company is developing Claros1 immunoassay instrument system that provides rapid blood test results and enables complex tests to be run in point-of-care settings; drugs for the treatment cancer, heart disease, metabolic disorders, and various genetic anomalies; and has various therapeutic agents in clinical development for the treatment of respiratory disorders. Further, it operates a full-service medical laboratory specializing in urologic pathology. OPKO Health, Inc. is based in Miami, Florida.
For more info visit Website: http://www.opko.com