Third quarter revenue rose 74% to $20.6 million, but the net loss widened to $60 million.
Opko Health Inc. (NYSE: OPK; TASE: OPK), which listed on the Tel Aviv Stock Exchange (TASE) in August, published its financial report for the third quarter of 2013 on Monday. Revenue rose 74%, compared with the corresponding quarter of 2012, to $20.6 million.
Revenue rose to $75.8 million in January-September 2013 from $30.8 million in the corresponding period of last year.
Net loss widened to $60 million for the third quarter from $10.2 million for the corresponding quarter. The higher loss was due to increased operating costs and clinical trial activities during the third quarter and to non-cash charges.
Net loss widened to $98 million in January-September from $30.2 million for the corresponding period.
Published by Globes [online], Israel business news - www.globes-online.com - on November 12, 2013
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