Insider Buying Report – (NASDAQ: OPK) Opko Health, Inc.

BOCA RATON, FL / ACCESSWIRE / May 4, 2018 / CEO & Chairman Phillip Frost, M.D. just bought another 35,000 shares (NASDAQ: OPK) Opko Health for an average price of $3.06 a share. This follows his 31,800, 55,372, 150,000, 60,000, and 10,000 share purchases since April 19, 2018.

While the stock has slipped considerably from a $12 high in early 2017 to a current price of $3.06, the CEO appears to be the biggest believer in the stock. At the moment, the company appears to be waiting for FDA approval of its Claros point of care
prostate specific antigen (PSA) test. The company also has several products that are either in Phase II development or will be in Phase II this year, as well.

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It also just enrolled its first patient in a Phase 2b study of OPK88003 for Type 2 Diabetes. Based on preclinical and Phase 2 data, the use of once-weekly dual agonists, such as OPK88003, could more effectively improve glucose control, increase weight loss and improve the lipid profile in type 2 diabetics compared to the current GLP-1 therapies on the market, according to the company.

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“OPK88003 was previously evaluated in a blinded Phase 2 clinical trial of 420 patients with type 2 diabetes for 12 weeks, followed by an
open label extension for an additional 12 weeks. The study showed that OPK88003 reduced HbA1c levels by approximately 1.4% and resulted in statistically superior weight loss compared to the comparator, a weekly exenatide. Further, OPK88003 treatment resulted in a favorable decrease in triglycerides and cholesterol in comparison to the weekly exenatide.”

SOURCE: Chasing Markets

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