Opko Health, Inc. (OPK) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

reduce our remaining convertible debt, and through our recently expanded share repurchase authorization, we plan to continue to reduce the number of shares outstanding in the most capital efficient way possible. Under our share repurchase authorization, we have approximately $159 million remaining, which at yesterday's closing price represents more than 113 million shares, or more than 14% of our currently outstanding shares. As Elias mentioned, we anticipate closing our second transaction with LabPorp later this year and will receive $192.5 million of closing and up to $225 million in total. As we look ahead, the following assumptions influence our financial guidance. For our pharmaceutical segment, we expect Pfizer to continue to grow sales of Ingenla and the overall HGH franchise. We assume a stable foreign currency exchange rate for our ex-U.S. pharmaceutical businesses, which has recently been challenged with large swings in certain territories. Our teams have been diligently navigating those challenges through disciplined expense control and expect that going forward. R&D expenses will reflect higher activities related to our MODX programs, including CMC efforts related to our first oncology trial, as well as furthering our GLP-1 glucagon development program. A portion of the increased MODX activities will continue to be funded through our BARDA agreements. For our diagnostic segment, we are executing our multi-year, multi-phase program to reach and improve profitability. This program continues to be focused on operational efficiencies and the reduction of fixed infrastructure costs. We expect to incur an additional $5 million in non-recurring costs during the second quarter, which primarily reflect severance costs. We have established an additional cost reduct...