OPKO Health, Inc. is a medical test and medication company focused on diagnostics and pharmaceuticals. The company is a publicly traded company on NASDAQ and TASE under the symbol "OPK".3Wikipedia text CC BY-SA 4.0
OPKO Health, Inc. is a medical test and medication company focused on diagnostics and pharmaceuticals. The company is a publicly traded company on NASDAQ and TASE under the symbol "OPK".3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Cost of revenueResearch and developmentSelling, general and admin
Cost of revenue53¢$400.9M
Research and development16¢$124.0M
Selling, general and admin29¢$223.0M
Income tax2¢$15.7M
Out of $606.9M in revenue.9 The company lost money this year.
Financial statements
Revenue101112139$606.9M in 2025−33% since 2019Gross profit139$205.9M in 2025−29% since 2022Operating income101112139-$117.4M in 2025−57% since 2019Net income101112139-$225.7M in 2025−28% since 2019
Revenue91415$163.6M in Q2 FY2026+10% since Q4 FY2025Gross profit1415$80.0M in Q2 FY2026+75% since Q1 FY2026Operating income1415-$7.0M in Q2 FY2026−86% since Q1 FY2026Net income91415-$8.4M in Q2 FY2026−73% since Q4 FY2025
Every line of the income statement as filed: the last 3 fiscal years (annual) or 8 quarters (quarterly), latest first.9
Period ending
2025-12-31
2024-12-31
2023-12-31
Revenues
$606.9M
$713.1M
$863.5M
Cost of Goods and Services Sold
$400.9M
$494.6M
$545.4M
Selling, general and administrative
$223.0M
$304.2M
$300.6M
Research and development
$124.0M
$105.2M
$89.6M
Contingent consideration
$0
$0
-$1.0M
Amortization of intangible assets
$77.9M
$82.6M
$86.0M
Gain on sale of assets
-$101.6M
-$121.5M
$0
Total costs and expenses
$724.3M
$865.2M
$1.0B
Operating loss
-$117.4M
-$152.1M
-$157.0M
Interest income
$14.8M
$8.4M
$4.0M
Interest expense
-$108.5M
-$47.5M
-$13.5M
Fair value changes of derivative instruments, net
-$429.0K
-$26.2M
-$781.0K
Other income (expense), net
-$29.9M
$206.9M
-$17.0M
Other income (expense), net
-$124.0M
$141.7M
-$27.3M
Loss before income taxes and investment losses
-$241.4M
-$10.4M
-$184.3M
Income tax benefit (provision)
$15.7M
-$42.8M
-$4.4M
Net loss before investment losses
-$225.7M
-$53.2M
-$188.8M
Loss from investments in investees
-$29.0K
-$18.0K
-$107.0K
Net loss
-$225.7M
-$53.2M
-$188.9M
Loss per share Basic
-$0.30
-$0.08
-$0.25
Loss per share diluted
-$0.30
-$0.08
-$0.25
Weighted average number of common shares outstanding, basic
751.1M shares
694.0M shares
751.8M shares
Weighted average number of common shares outstanding, diluted
751.1M shares
694.0M shares
751.8M shares
Period ending
2025-12-31
2025-09-30
2025-06-30
2025-03-31
2024-12-31
2024-09-30
2024-06-30
2024-03-31
Revenues
$148.5M
$151.7M
$156.8M
$150.0M
$183.6M
$173.6M
$182.2M
$173.7M
Net loss
-$31.3M
$21.6M
-$148.4M
-$67.6M
$14.0M
$24.9M
-$10.3M
-$81.8M
Loss per share Basic
-$0.04
$0.03
-$0.19
-$0.10
$0.02
$0.04
-$0.01
-$0.12
Loss per share diluted
-$0.04
$0.03
-$0.19
-$0.10
$0.01
$0.03
-$0.01
-$0.12
Total assets16101112139$1.9B in 2025−16% since 2019Total liabilities16101112139$664.0M in 2025−4% since 2019Shareholders’ equity1012139$1.3B in 2025−21% since 2019Cash16101112139$364.4M in 2025+326% since 2019Long-term debt17101112139$2.3M in 2025−42% since 2019
Total assets1415$1.8B in Q2 FY2026−5% since Q1 FY2025Total liabilities1415$645.3M in Q2 FY2026−3% since Q1 FY2025Shareholders’ equity1415$1.2B in Q2 FY2026−7% since Q1 FY2025Cash1415$300.8M in Q2 FY2026−17% since Q1 FY2025Long-term debt1415$1.8M in Q2 FY2026−21% since Q1 FY2025
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.9
Period ending
2025-12-31
2024-12-31
2023-12-31
2022-12-31
Cash, cash equivalents and current restricted cash
$369.1M
$431.9M
Accounts receivable, net
$90.3M
$118.0M
Inventory, net
$65.8M
$56.8M
Other current assets and prepaid expenses
$56.7M
$55.3M
Total current assets
$581.9M
$662.1M
Property, plant and equipment, net
$73.9M
$70.1M
Intangible assets, net
$516.3M
$616.6M
In-process research and development
$195.0M
$195.0M
Goodwill
$484.3M
$529.3M
Investments
$14.2M
$54.6M
Operating lease right-of-use assets
$46.9M
$54.0M
Other assets
$19.5M
$18.5M
Total assets
$1.9B
$2.2B
Accounts payable
$41.1M
$47.1M
Accrued expenses
$84.4M
$118.4M
Current maturities of operating leases
$10.9M
$12.6M
Current portion of convertible notes
$0
$170.0K
Current portion of lines of credit and notes payable
$10.3M
$14.8M
Total current liabilities
$146.7M
$193.1M
Operating lease liabilities
$36.8M
$48.8M
Long term portion of convertible notes
$85.0M
$173.6M
Senior secured notes
$246.4M
$245.6M
Deferred tax liabilities
$126.2M
$140.8M
Other long-term liabilities, principally contingent consideration and lines of credit
$22.8M
$32.8M
Total long-term liabilities
$517.3M
$641.7M
Total liabilities
$664.0M
$834.8M
Common Stock - $0.01 par value, 1,250,000,000 shares authorized; 789,917,433 and 701,350,447 shares issued at December 31, 2025 and 2024, respectively
$7.9M
$7.0M
Treasury Stock - 30,849,907, and 29,799,907 shares at December 31, 2025 and December 31, 2024, respectively
-$3.2M
-$1.8M
Additional paid-in capital
$3.6B
$3.5B
Accumulated other comprehensive loss
-$21.0M
-$56.1M
Accumulated deficit
-$2.3B
-$2.1B
Total shareholders equity
$1.3B
$1.4B
$1.4B
$1.6B
Total liabilities and equity
$1.9B
$2.2B
Common Stock, Par or Stated Value (in dollars per share)
$0.01
$0.01
Common Stock, Shares Authorized (in shares)
1.2B shares
1.2B shares
Common Stock, Shares, Issued (in shares)
789.9M shares
701.4M shares
Treasury Stock, Common, Shares (in shares)
30.8M shares
29.8M shares
Period ending
2025-12-31
2024-12-31
2023-12-31
2022-12-31
Cash, cash equivalents and current restricted cash
$369.1M
$431.9M
Accounts receivable, net
$90.3M
$118.0M
Inventory, net
$65.8M
$56.8M
Other current assets and prepaid expenses
$56.7M
$55.3M
Total current assets
$581.9M
$662.1M
Property, plant and equipment, net
$73.9M
$70.1M
Intangible assets, net
$516.3M
$616.6M
In-process research and development
$195.0M
$195.0M
Goodwill
$484.3M
$529.3M
Investments
$14.2M
$54.6M
Operating lease right-of-use assets
$46.9M
$54.0M
Other assets
$19.5M
$18.5M
Total assets
$1.9B
$2.2B
Accounts payable
$41.1M
$47.1M
Accrued expenses
$84.4M
$118.4M
Current maturities of operating leases
$10.9M
$12.6M
Current portion of convertible notes
$0
$170.0K
Current portion of lines of credit and notes payable
$10.3M
$14.8M
Total current liabilities
$146.7M
$193.1M
Operating lease liabilities
$36.8M
$48.8M
Long term portion of convertible notes
$85.0M
$173.6M
Senior secured notes
$246.4M
$245.6M
Deferred tax liabilities
$126.2M
$140.8M
Other long-term liabilities, principally contingent consideration and lines of credit
$22.8M
$32.8M
Total long-term liabilities
$517.3M
$641.7M
Total liabilities
$664.0M
$834.8M
Common Stock - $0.01 par value, 1,250,000,000 shares authorized; 789,917,433 and 701,350,447 shares issued at December 31, 2025 and 2024, respectively
$7.9M
$7.0M
Treasury Stock - 30,849,907, and 29,799,907 shares at December 31, 2025 and December 31, 2024, respectively
-$3.2M
-$1.8M
Additional paid-in capital
$3.6B
$3.5B
Accumulated other comprehensive loss
-$21.0M
-$56.1M
Accumulated deficit
-$2.3B
-$2.1B
Total shareholders equity
$1.3B
$1.4B
$1.4B
$1.6B
Total liabilities and equity
$1.9B
$2.2B
Common Stock, Par or Stated Value (in dollars per share)
$0.01
$0.01
Common Stock, Shares Authorized (in shares)
1.2B shares
1.2B shares
Common Stock, Shares, Issued (in shares)
789.9M shares
701.4M shares
Treasury Stock, Common, Shares (in shares)
30.8M shares
29.8M shares
Cash from operations101112139-$178.5M in 2025+3% since 2019Share buybacks139$47.0M in 2025
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.9
Period ending
2025-12-31
2024-12-31
2023-12-31
Net Income (Loss)
-$225.7M
-$53.2M
-$188.9M
Depreciation and amortization
$91.6M
$98.2M
$105.3M
Non-cash interest
$66.3M
$17.5M
$2.8M
Amortization of deferred financing costs
$5.2M
$2.0M
$1.2M
Losses from investments in investees
$29.0K
$18.0K
$107.0K
Equity-based compensation employees and non-employees
$10.7M
$11.0M
$11.4M
Impairment charges
$1.0M
$0
$0
Realized loss (gain) on disposal of fixed assets and sales of equity securities
-$3.2M
-$63.4M
$1.3M
Change in fair value of equity securities and derivative instruments
$623.0K
-$114.4M
$17.6M
Loss on conversion convertible senior notes
$0
-$6.6M
$0
Inducement expense and loss on debt conversion
$32.6M
$0
$0
Change in fair value of contingent consideration
$0
$0
-$1.0M
Deferred income tax provision
-$15.0M
$14.7M
$146.0K
Gain on sale of assets
-$101.6M
-$121.5M
$0
Accounts receivable, net
$30.2M
-$220.0K
$3.4M
Inventory, net
-$4.1M
$4.2M
$15.2M
Other current assets and prepaid expenses
-$5.4M
-$4.0M
$7.2M
Other assets
$23.0K
$237.0K
-$288.0K
Accounts payable
-$14.2M
-$20.7M
$2.8M
Foreign currency measurement
$178.0K
$3.9M
-$1.0M
Accrued expenses and other liabilities
-$47.8M
$48.7M
-$5.5M
Net cash used in operating activities
-$178.5M
-$183.5M
-$28.2M
Investments in investees
-$7.7M
$0
-$5.0M
Proceeds from sale of investments
$52.2M
$166.6M
$364.0K
Proceeds from the sale of property, plant and equipment
$287.0K
$242.0K
$2.7M
Capital expenditures
-$12.3M
-$25.0M
-$16.3M
Proceeds from LabCorp Sale
$197.8M
$210.4M
$0
Net cash provided by (used in) investing activities
$230.3M
$352.2M
-$18.2M
Issuance of 3.00% convertible senior notes, net (including related parties)
$0
$230.0M
$0
Issuance of 2044 Notes
$0
$250.0M
$0
Debt issuance costs
$0
-$13.4M
$0
Share repurchase
-$47.0M
-$90.2M
$0
Net activity from the exercise of common stock options and warrants
-$256.0K
-$208.0K
-$272.0K
Repurchase of 2029 Convertible Notes
-$62.2M
-$30.1M
$0
Borrowings on lines of credit
$33.0M
$459.4M
$671.7M
Repayments of lines of credit
-$41.4M
-$475.1M
-$679.7M
Settlement of convertible notes
-$174.0K
-$146.3M
-$3.0M
Net cash (used in) provided by financing activities
-$118.1M
$184.2M
-$11.3M
Effect of exchange rate changes on cash, cash equivalents and restricted cash
$3.4M
-$3.2M
$388.0K
Net (decrease) increase in cash, cash equivalents and restricted cash
-$62.9M
$349.7M
-$57.3M
Interest paid
$37.9M
$20.9M
$8.1M
Income taxes paid, net of refunds
$24.5M
$10.0M
$3.7M
Operating lease right-of-use assets obtained in exchange for lease obligations
$0
$0
$29.4M
Assets acquired by finance leases
$0
$0
$203.0K
Common Stock options and warrants, surrendered in net exercise
$346.0K
$529.0K
$301.0K
Fair value of shares included in consideration from GeneDx Holdings
Opko Health Inc. sits at the top of its group. 18 entities, 7 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Opko Health Inc.
Phillip Et Al Frost Md.Filed SCHEDULE 13D/A on Opko Health Inc., latest Jul 1, 2026 (9 filings since Aug 19, 2022)
Rubric Capital Management LPFiled SCHEDULE 13G/A on Opko Health Inc., latest Jul 9, 2025 (2 filings since Nov 13, 2024)
Jane Ph D. HsiaoFiled SCHEDULE 13D/A on Opko Health Inc., latest Apr 3, 2025 (3 filings since Aug 19, 2022)
VANGUARD GROUP INCFiled SC 13G/A on Opko Health Inc., latest Nov 12, 2024 (5 filings since Feb 10, 2022)
Elias A. ZerhouniFiled SC 13D on Opko Health Inc., latest Jun 29, 2022
Gary J. NabelFiled SC 13D on Opko Health Inc., latest Jun 29, 2022
BlackRockFiled SC 13G/A on Opko Health Inc., latest Mar 9, 2022 (2 filings since Feb 1, 2022)
BioReference Health, LLC Subsidiary · Delaware, United States
Curna, Inc. Subsidiary · Delaware, United States
EirGen Pharma Limited Subsidiary · Ireland
FineTech Pharmaceutical Ltd Subsidiary · Israel
ModeX Therapeutics, Inc. Subsidiary · Delaware, United States
OPKO Biologics, Ltd Subsidiary · Israel
OPKO Chile, S.A. Subsidiary · Chile
OPKO Diagnostics, LLC Subsidiary · Delaware, United States
OPKO Health Europe, S.L. Subsidiary · Spain
OPKO Pharmaceuticals, LLC Subsidiary · Delaware, United States
OPKO Renal, LLC Subsidiary · Canada
Pharmacos Exakta S.A. de C.V. Subsidiary · Mexico
Transition Therapeutics, Corp. ULC Subsidiary · Nova Scotia, Canada
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G; stakes of 5% or more it reported on Schedules 13D and 13G (3 companies). Each entity in the chart links to its source.
What it owns
What Opko Health Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Our principal corporate office is located at 4400 Biscayne Blvd, Miami, Florida. We lease this space from Frost Real Estate Holdings, LLC (“Frost Real Estate”), an entity which is controlled by Dr. Phillip Frost, our Chairman of the Board and Chief Executive Officer. Pursuant to the lease agreement with Frost Real Estate, we lease approximately 26,328 square feet, which encompasses space for our corporate offices and administrative services.
The table below summarizes certain information as to our significant physical properties as of December 31, 2025:
The rest of Item 2
Location · Segment and Purpose · Type of Occupancy
OPKO Health is a diversified healthcare company present in more than 30 countries. The company's primary businesses include
Bioreference Laboratories, a clinical laboratory with a core genetic testing business
The 4K Test Score, a blood test for prostate cancer
Pharmaceutical development, with products such as Rayaldee
Varubi, a chemotherapy inducted nausea medication
As of 2024, the chairman and CEO of OPKO is Phillip Frost.
In May 2022, OPKO Health announced the acquisition for $300 million of U.S. based Biotechnology firm, ModeX. With it OPKO gained proprietary immunotherapy technology for infectious diseases and oncology.
CYTOCLONAL PHARMACEUTICS INC /DESep 10, 1996 to Jun 4, 20016
Controversies and legal
Litigation
On September 7, 2018, the SEC filed a lawsuit against a number of individuals and entities including Opko Health and the CEO and chairman, Phillip Frost. In December 2018, the company and Dr. Frost entered into settlements with the SEC, which, upon approval by the court in January 2019, resolved the claims. Without admitting or denying any of the allegations, the company agreed to an injunction from violations of Section 13(d) of the “Exchange Act”, a strict liability claim, and to pay a $100,000 penalty, which has been paid.
On March 8, 2019, the SEC filed an amended complaint, with OPKO paying US$100,000 "Without admitting or denying the SEC's allegations."
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
291 filings to the SEC since October 2021: 7 annual reports, 17 quarterly reports, 59 major events, 166 insider forms, 23 large holders, 19 other. The latest 20:
98 open-market trades by officers, directors and large owners since October 2021: 98 buys and 0 sales. Grants, option exercises and gifts are left out.
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
From the cover page of the 10-K filed Feb 26, 2026 (Section 12(b) of the Exchange Act).18
Risk factors and legal proceedings
The risks Opko Health Inc. names in Item 1A of its 10-K filed Feb 26, 2026: 54 risks under these headings, as written.18
RISKS RELATED TO OUR BUSINESS
We have had a history of operating losses and may not be able to achieve profitability in the near future.
We may require additional funding, which may not be available to us on acceptable terms, or at all.
Our research and development activities may not result in commercially viable products.
The results of pre-clinical trials and previous clinical trials for our products may not be predictive of future results, and our current and planned clinical trials may not satisfy the requirements of the FDA or other non-U.S. regulatory authorities.
We rely on licensing agreements with VFMCRP, Nicoya, and international partners for the international development and marketing of Rayaldee. Failure to maintain these license agreements could prevent us from successfully developing and commercializing Rayaldee worldwide.
Our exclusive worldwide agreement with Pfizer is important to our business. If Pfizer does not successfully commercialize Somatrogon (hGH-CTP ), our business could be adversely affected.
Our business is substantially dependent on our ability to achieve regulatory approval for the marketing of Somatrogon (hGH-CTP) in pediatric patients and the commercial success of this product.
Discontinuation or recalls of existing testing products, failure to develop, or acquire, licenses for new or improved testing technologies or our clients using new technologies to perform their own tests could adversely affect our business.
If our competitors develop and market products or services that are more effective, safer or less expensive than our current and future products or services, our revenues, profitability and commercial opportunities will be negatively impacted.
Our product development activities could be delayed or stopped.
Our inability to meet regulatory quality standards applicable to our manufacturing and quality processes and to address quality control issues in a timely manner could delay the production and sale of our products or result in recalls of products.
The other 43 risks
Failure to establish, and perform to, appropriate quality standards to assure that the highest level of quality is observed in the performance of our testing services could adversely affect the results of our operations and adversely impact our reputation.
Even after we receive regulatory approval or clearance to market our product candidates, the market may not be receptive to our products.
If our products are not covered and eligible for reimbursement from government and third party payors, we may not be able to generate significant revenue or achieve or sustain profitability.
Our success is dependent to a significant degree upon the involvement, efforts and reputation of our Chairman and Chief Executive Officer, Phillip Frost, M.D.
If we fail to attract and retain key management and scientific personnel, we may be unable to successfully operate our business and develop or commercialize our products and product candidates.
Business combinations may disrupt our business, distract our management, may not proceed as planned, and may also increase the risk of potential third party claims and litigation.
If the FDA or other applicable regulatory authorities approve generic products that compete with any of our products or product candidates, the sale of our products or product candidates may be adversely affected.
We rely on third parties to manufacture and supply our pharmaceutical and diagnostic products and product candidates.
Independent clinical investigators and contract research organizations that we engage to conduct our clinical trials may not be diligent, careful or timely.
Failure to timely or accurately bill and collect for our services could have a material adverse effect on our revenues and our business.
The information technology systems that we rely on may be subject to unauthorized tampering, cyberattack or other data security incidents that could impact our billing processes or disrupt our operations.
Healthcare plans have taken steps to control the utilization and reimbursement of healthcare services, including clinical test services.
If we are unable to obtain and enforce patent protection for our products, our business could be materially harmed.
If we are unable to protect the confidentiality of our proprietary information and know-how, the value of our technology and products could be adversely affected.
We will rely heavily on licenses from third parties. Failure to comply with the provisions of these licenses could result in the loss of our rights under the license agreements.
We license patent rights to certain of our technology from third-party owners. If such owners do not properly maintain or enforce the patents underlying such licenses, our competitive position and business prospects will be harmed.
Our commercial success depends significantly on our ability to operate without infringing the patents and other proprietary rights of third parties.
If we become involved in patent litigation or other proceedings related to a determination of rights, we could incur substantial costs and expenses, substantial liability for damages or be required to stop our product development and commercialization efforts.
We have faced, and may in the future face, intellectual property infringement claims that could be time-consuming and costly to defend, and could result in our loss of significant rights and the assessment of treble damages.
We may become subject to product liability claims for our diagnostic tests, clinical trials, pharmaceutical products and medical device products.
Adverse results in material litigation matters or governmental inquiries could have a material adverse effect upon our business and financial condition.
RISKS RELATED TO REGULATORY COMPLIANCE
Our ability to successfully operate our laboratories and develop and commercialize certain of our diagnostic tests and LDTs will depend on our ability to maintain required regulatory licensures and comply with all the CLIA requirements.
The regulatory approval process is expensive, time consuming and uncertain and may prevent us or our collaboration partners from obtaining approvals for the commercialization of some or all of our product candidates.
The terms of approvals and ongoing regulation of our products may limit how we manufacture and market our products and product candidates, which could materially impair our ability to generate anticipated revenues.
If we fail to comply with complex and rapidly evolving laws and regulations, we could suffer penalties, be required to pay substantial damages or make significant changes to our operations.
Failure to maintain the security of patient-related information or compliance with security requirements could damage our reputation with customers, cause us to incur substantial additional costs and become subject to litigation.
Failure to comply with environmental, health and safety laws and regulations, including the Federal Occupational Safety and Health Administration Act, the Needlestick Safety and Prevention Act and the Comprehensive Medical Waste Management Act, could result in fines and penalties and loss of licensure, and have a material adverse effect upon our business.
Our failure or the failure of third-party payors or physicians to comply with ICD-10-CM Code Set, and our failure to comply with other emerging electronic transaction standards could adversely impact our business.
Failure to comply with complex federal and state laws and regulations related to submission of claims for clinical laboratory services could result in significant monetary damages and penalties and exclusion from the Medicare and Medicaid programs.
Changes in regulation and policies, including increasing downward pressure on health care reimbursement, may adversely affect reimbursement for diagnostic services and could have a material adverse impact on our business.
Medicare legislation and future legislative or regulatory reform of the health care system may affect our ability to sell our products profitably.
RISKS RELATED TO INTERNATIONAL OPERATIONS
Failure to obtain regulatory approval outside the U.S. will prevent us from marketing our products and product candidates abroad.
Non-U.S. governments often impose strict price controls, which may adversely affect our future profitability.
Potential political, economic and military instability in the State of Israel, where we have office, laboratory and manufacturing operations, may adversely affect our results of operations.
Due to the international scope of our business activities, our results of operations may be significantly affected by currency fluctuations.
We may be exposed to liabilities under the Foreign Corrupt Practices Act, and any determination that we violated the Foreign Corrupt Practices Act could have a material adverse effect on our business.
We are subject to risks associated with doing business globally.
RISKS RELATED TO ACQUISITIONS AND INVESTMENTS
We have a large amount of goodwill and other intangible assets on our balance sheet that are subject to periodic impairment evaluations.
RISKS RELATED TO OWNERSHIP OF OUR COMMON STOCK
The trading price of our Common Stock may fluctuate significantly.
Directors, executive officers, principal stockholders and affiliated entities own a substantial amount of our capital stock, and they may make decisions that you do not consider to be in the best interests of our stockholders.
A significant short position in our Common Stock could have a substantial impact on the trading price of our stock.
Failure to maintain effective internal controls in accordance with Section 404 of the Sarbanes-Oxley Act, including with respect to companies we acquire, could have a material adverse effect on our business and operating results. In addition, current and potential stockholders could lose confidence in our financial reporting, which could have a material adverse effect on the price of our Common Stock.
Compliance with changing regulations concerning corporate governance and public disclosure may result in additional expenses.
Legal proceedings
We are involved from time to time in various claims and legal actions arising in the ordinary course of business. Please refer to Note 14, "Commitments and Contingencies" in the Consolidated Financial Statements for additional information.
As previously disclosed, on December 29, 2022, the Israel Tax Authority (the “ITA”) issued an assessment against our subsidiary, OPKO Biologics in the amount of approximately $246 million (including interest) related to uncertain tax positions involving income recognition in connection with an examination of foreign tax returns for the 2014 through 2020 tax years. We recognize that local tax law is inherently complex, and the local taxing authorities may not agree with certain tax positions taken. We have appealed this assessment, as we believe, other than for uncertain tax positions for which we have reserved, the issues are without technical merit. The matter is currently before the courts. While the trial has concluded, there are certain other procedural matters under Israeli law that must occur before a judgment is rendered. We intend to continue to exhaust all judicial remedies necessary to resolve the matter, as necessary, which has been a lengthy process. There can be no assurance that this matter will be resolved in our favor, and an adverse outcome, or any future tax examinations involving similar assertions, could have a material adverse effect on our financial condition, results of operations and cash flows.
