OPKO Health Inc. (OPK) stock soared 7.36% in pre-market trading on Friday, following its impressive fourth-quarter 2024 financial results and promising advancements in its pharmaceutical pipeline.

The biopharmaceutical company reported a net income of $14 million, or $0.01 per diluted share, for Q4 2024, a remarkable turnaround from a net loss of $66.5 million in the same period last year. This positive performance was driven by:

• Strong revenue growth of 39% in the Pharmaceutical segment, bolstered by higher product sales and milestone payments from collaborations.
• Significant progress in OPKO's proprietary ModeX pipeline, with two programs entering Phase 1 clinical trials.
• Improved financial position and capital structure, supported by a $50 million upfront payment from the Merck collaboration for an Epstein-Barr Virus (EBV) vaccine.

OPKO's pharmaceutical pipeline made notable strides, with its tetraspecific antibody (MDX-2001) for solid tumors and the EBV nanoparticle vaccine in collaboration with Merck entering Phase 1 clinical trials. The company also reported encouraging clinical pharmacology data for its once-weekly injectable dual-GLP-1 glucagon agonist (OPKO-88006) in diabetic and metabolic mice models.

Furthermore, OPKO strengthened its financial position through various transactions, including the infusion of cash from the Merck collaboration and the sale of GeneDx. This allowed the company to fund its pipeline advancement and initiate share buybacks.