Why OPKO Health Shares Jumped on Wednesday
Shares of drug and diagnostics company OPKO Health (NASDAQ: OPK) closed 8% higher Wednesday following news of a collaboration agreement with pharmaceutical giant Merck (NYSE: MRK). While down from an intraday rally of more than 24%, the remaining gain still offers a glimmer of hope to shareholders who've watched their OPKO stake crumble since early 2021.
Nevertheless, it's not enough to make this ticker a prospect most investors will want to risk stepping into.
The target is Epstein-Barr, a virus linked to mononucleosis that's vexed the healthcare industry since it was first identified in 1964. There are some generalized treatments for symptoms of infections, but there is no therapy purpose-built to combat the disease, nor are there any vaccines approved to prevent infections.
Source Fool.com
