OPKO Health Inc. (NASDAQ:OPK) Stock Continues to Trade in a Range: Now What?
OPKO Health Inc. (NASDAQ:OPK) is moving in range after the company announced the signing of an exclusive global contract with CAMP4 Therapeutics Corporation for manufacturer, development, and marketing therapeutics that use AntagoNAT tech. AntagoNAT technology is an oligonucleotide therapeutics platform created within OPKO CURNA targeting non-coding antisense transcripts that lead to desired functional proteins upregulation.
CAMP4 is prioritizing OPKO’s flagship AntagonNAT to advance to clinical trials in Dravet Syndrome treatment. As per the terms of the agreement, CAMP4 will pay OPKPO an upfront payment plus shares. The total consideration for the agreement is $93.5 million-plus CAMP4 shares subject to certain milestones.
Recently, OPKO announced signing a deal between its EirGem Pharma subsidiary and Nicoya Therapeutics’ affiliate Nicoya Macau Limited to develop and commercialize RAYALDEE in China. Through the agreement, patients in mainland China, Taiwan, Macau, and Hong Kong will have access to RAYALDEE, an innovative solution for secondary hyperparathyroidism treatment in chronic kidney disease patients. So in the coming months, OPK is a stock to watch.
Market Reaction:
On Monday, OPK stock slid 5.24% at $3.80 with more than 6.33 million shares, compared to its average volume of 4.54 million shares. The stock had moved within a range of $ 3.7500 – 4.0200 after opening the trade at $3.99. Over the past 52-week, the stock has been trading within a range of $2.8400 – 6.4700.
