MIAMI--(BUSINESS WIRE)--

OPKO Health, Inc. (OPK), a multi-national biopharmaceutical and diagnostics company, today reported that Neovasc Inc. (NVC.V), a Vancouver-based company in which OPKO has made a strategic investment, reported topline results for its COSIRA trial assessing the efficacy and safety of the Neovasc ReducerTM, a novel percutaneous device for the treatment of refractory angina. The data shows that the Reducer achieved its primary endpoint, significantly improving the symptoms and functioning of patients disabled by previously untreatable refractory angina. The COSIRA trial also confirmed that the Reducer is safe and well-tolerated, with no reports of device-related serious adverse events. The safety and efficacy data from the randomized, controlled COSIRA trial is consistent with results seen in previous non-randomized pilot studies of the Reducer.

The Reducer is CE-marked in the European Union for the treatment of refractory angina, a painful and debilitating condition that occurs when the coronary arteries deliver an inadequate supply of blood to the heart muscle, despite treatment with standard revascularization or cardiac drug therapies. It affects millions of patients worldwide, who typically lead severely restricted lives as a result of their disabling symptoms, and its incidence is growing. The Reducer provides relief of angina symptoms by altering blood flow in the heart's venous system, thereby increasing the perfusion of oxygenated blood to ischemic areas of the heart muscle. Placement of the Reducer is performed using a minimally invasive transvenous procedure that is similar to implanting a coronary stent and takes approximately 20 minutes.

The COSIRA (Coronary Sinus Reducer for treatment of Refractory Angina) trial is a prospective, multicenter, sham-controlled, randomized, double-blinded study assessing the safety and efficacy of the Reducer in 104 patients in the European Union and Canada. Patients were randomized 1:1 between treatment and sham control arms. Its primary endpoint is a two-class improvement six months after implantation in patients' ratings on the Canadian Cardiovascular Society (CCS) angina grading scale, a four-class functional classification that is widely used to characterize the severity of angina symptoms and disability. Only patients with severe angina, CCS Class 3 or 4, were enrolled in the COSIRA trial.

The complete results of the COSIRA trial are being submitted as a Late Breaking Clinical Trial presentation at ACC.14, the 63rd Annual Scientific Session & Expo of the American College of Cardiology that will take place in Washington, DC, March 29-31, 2014.

About Neovasc Inc.

Neovasc Inc. is a specialty medical device company that develops, manufactures and markets products for the rapidly growing global cardiovascular marketplace. Its products include the Neovasc Reducer™ for the treatment of refractory angina and the Tiara™ transcatheter mitral value replacement device in development for the treatment of mitral regurgitation. In addition, Neovasc's advanced biological tissue products are widely used as key components in a variety of third-party medical products, such as transcatheter heart valves. For more information, visit: www.neovasc.com.

About OPKO Health, Inc.

We are a multi-national biopharmaceutical and diagnostics company that seeks to establish industry-leading positions in large and rapidly growing medical markets by leveraging our discovery, development and commercialization expertise and our novel and proprietary technologies.

oops, I see its slated for next Monday the 11th, how fitting "Remembrance" Day here in Canada.

I noticed on the Yahoo website that the earnings date 11/4/13 of yesterday was taken down as of today, anyone know the earnings date?
Been awhile since I've posted, still long and strong with a smile.

This stock is being sucked down by very ugly market internals. It went up very fast in price and under estimating the re-tracement back down should not be taken out of context.
I brought up the fact that how much longer can Mr Frost garner support for stock price inside buying when we have these ugly internals and folks selling winners to lock in profits as they erode away in a falling market.
Is this book squaring with MM's locking in profits for the 2nd Q and going into cash to show there investors how smart they are?
Is it the go away in May factor come early?
I think with the sinking transport index is paramount as is others ,all signaling something more grave than just an ordinary pull back of profit taking. In 2 weeks we have earnings and the whispers have been lowered to hopefully message the numbers to look better than what they really are.Moving to the sidelines might just be a prudent thing to do on any upsurge in the markets here that are likely to be only temporary.
Doubling down buying a stock when the knife is falling is very risky business even though you're convinced of the fundamentals of the company are very attractive. They are not attractive to anyone else when the markets get into capitulating mode.
These markets went up via FED inducement of cheap lame fiat money creation which is a very fallacious way for productivity to happen, especially when insiders are dumping there company shares.Frost being the exception.

Opko Health Inc. Stock Upgraded (OPK)
By TheStreet Wire 04/03/13 - 05:00 AM EDT
Find out if (OPK) is in Cramer's Portfolio.

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK (TheStreet) -- Opko Health (NYSE:OPK) has been upgraded by TheStreet Ratings from hold to buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, good cash flow from operations, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share.

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Highlights from the ratings report include:

OPK's very impressive revenue growth greatly exceeded the industry average of 6.9%. Since the same quarter one year prior, revenues leaped by 180.7%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
Compared to its closing price of one year ago, OPK's share price has jumped by 59.61%, exceeding the performance of the broader market during that same time frame. Regarding the stock's future course, although almost any stock can fall in a broad market decline, OPK should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
Net operating cash flow has increased to -$5.73 million or 13.05% when compared to the same quarter last year. The firm also exceeded the industry average cash flow growth rate of -33.36%.
49.60% is the gross profit margin for OPKO HEALTH INC which we consider to be strong. It has increased significantly from the same period last year. Regardless of the strong results of the gross profit margin, the net profit margin of -3.37% is in-line with the industry average.
OPK's debt-to-equity ratio is very low at 0.11 and is currently below that of the industry average, implying that there has been very successful management of debt levels. Although the company had a strong debt-to-equity ratio, its quick ratio of 0.97 is somewhat weak and could be cause for future problems.

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Opko Health, Inc., a pharmaceutical and diagnostics company, engages in the discovery, development, and commercialization of novel and proprietary technologies. It operates in two segments, Pharmaceuticals and Diagnostics. Opko Health has a market cap of $2.47 billion and is part of the health care sector and health services industry. Shares are up 57% year to date as of the close of trading on Tuesday.

Investopedia explains 'Confidential Treatment Order - CTO'
Companies would typically seek a CTO in order to keep information that would otherwise put it at a disadvantage, a secret. For example, a company may apply for such an order to keep information regarding a pricing arrangement made with a partner, secret, since competitors finding out this information may go after the partner with a more competitive price.

Now after reading this explanation above, I'm not really circumspect as to what the company did to possibly secure financing going forward provided its does not dilute the share base.
Lets face it, one has to do whatever to protect its proprietary products that companies spend a fortune on via clinical trials just to get to the finish line. jmho.

the question is, can Mr. Frost's buying contain the negative flows out of the stock due to the delay of the 4K Score that was promised on Cramer for the last 1st Q roll out that has been shoved out another 6months?Dr. Frost WTF???????????

looking at these nos. they should not come to you as any surprise.
Acquisitions were the basic driver in enveloping debt to the company, Understandably revenue streams will be enhanced going forward with the roll out of the 4k Score diagnostic device in the US any day now which will steal the limelight away from those that are resolute to pounce on any opportunity to castigate the company for its paltry nos.
Markets are forward looking and the 4k Score has to deliver the goods in 2013 as its seems to be priced into the stock.
Dr. Frost was wise not to roll the 4K out until after these earnings nos. have been digested. He didn't purchase stock last Friday due to triple witching and knowing the stock would likely falter a bit on the earnings front. I look for him to resume his buying support of stock today and going forward.

Opko Health generated great buzz on the stock market, but its financial performance is a work in progress.

The Miami-based pharmaceutical and diagnostics company lost $29.5 million in 2012, compared to a $1.3 million loss in 2011, according to its annual report filed on Monday. That’s coming off a 52-week high for its stock (NYSE: OPK) on Friday amid a large volume of trading.

Shares of Opko were down 22 cents to $7.61 on Monday.

Opko attracts great interest as Chairman and CEO Dr. Phillip Frost, a billionaire entrepreneur, continuously buys its shares. As of March 8, Frost controlled 45.9 percent of Opko’s common stock.

A series of acquisitions over the past few years helped Opko boost its revenue to $47 million in 2012, up from $28 million in 2011. All of that revenue came from pharmaceutical sales, the majority in Chile. The company also has pharmaceutical operations in Israel, Spain, Mexico and Brazil.

Big jumps in expenses for sales, administrations and research/development wiped out the revenue growth and sunk Opko into the red.

The pharmaceutical business caused a $6.7 million operating loss for Opko, while the diagnostic side, where no revenue was generated, caused a $14.3 million operating loss and its corporate operations set the company back $15.6 million.

The company’s $40 million acquisition of OURLab, which has 18 diagnostic labs, closed in December so it didn’t have a big impact in its 2012 results. However, the annual report disclosed that former OURLab employee Dr. Adrian Goldstein filed a lawsuit against the company in Tennessee claiming that he’s owed additional compensation for the sale of the company. Opko is contesting the lawsuit.

Just for the record, my Dudilgent alias has been throw out the window in lieu of my primary ID Tmgun, sorry for any mix up, my fault.

there was a million block Schwab swing trade at the close which helped skew things a bit, after hrs. its down .10, light trading can skew things as well. so it goes:)))))

looking at the stock chart on the poster webpage, this stock is building up a nice ascending wedge formation, looks like about another week or so of distribution, churning, and back filling with a slightly bullish bias which bodes well for the stock going forward.

Any agreements or contrary opinions?

its the 4k score factor right around the corner.

Opko holders might want to dig into Frost's acquisitions that should bode well for his vitamin D serum for diabetes, remember, he said they really wanted to get this thing right and with Muscle Pharm Corp's vitamin expertise, it looks like a perfect fit going into the last trial.

http://www.bizjournals.com/southflorida/news/2013/01/28/dr-frost-bulks-up-with-muscle-pharm.html

Market makers can see the low hanging fruit on there trading screens when these that are short have stops in place because they lack the available margin in there accounts to stay in the game, just call it there last stand in the game threshold, they don't sleep well at night and if they don't pony up margin in there accounts as the stock gravitates upwards, then they must go into the market and cover/clean out there position of what they borrowed from the house. We still have lots of ammo in the short bank to take us much higher.