Opko Health Inc. (NYSE:OPK) Soars On Proposed 4Kscore™ Test
Ever since Nov. 4, when Opko Health Inc. (NYSE:OPK), the Miami based biomarker manufacturer, share prices of this stock have soared. At end of closing on Nov 11, the increase was 2.69% at $10.31.
Volume of shares traded to has increased at 2.23 million shares. The average trading volume for Opko Health is typically 5.76 million shares. In just the past year, Opko Health has surged by over114.35%.
Currently, Opko Health holds a market cap of $4.16 billion, while the total outstanding shares stand at 403.61million.
Other pharmaceutical stocks too fare well
In comparison, Viropharma Inc. (NASDAQ:VPHM) shares soared by 25.48% to close at $49.42. Virorpharma has consistently worked on drugs for treatment of rare diseases. Virorpharma stands to gain as patents on several older drugs in this segment are due to expire and companies are on the look-out for more.
Opko Health offers two tiers of product design and development: Tier 1 is Pharmaceuticals and Tier 2 is Diagnostic Solutions. Following development, Opko makes these available commercially as well.
In the recent past, it key product that has attracted the interest of investors is a diagnostic kit – 4Kscore™ test.
The test is predictive in nature and will provide medical professionals, complete information on the presence of prostate cancer, even before a prostate biopsy is to be conducted.
The test is backed by over 10 years of research with biomarkers – 4 of kallikrein panel – at Memorial Sloan Kettering Cancer Center and several other world’s leading cancer treatment centers, involving over 10,000 patients.
The test will be commercially available under Opko CLIA laboratory, Nashville and will be based on the results of the tests at 13 sites in the US alone. In the following months, there will be more than 1,200 referred prostate cancer patients enrolled for tests, using the new kit.