OPKO Health Unit to Expand Pro-Sports Covid Testing to NFL

(Bloomberg) -- OPKO Health Inc. soared to its highest intraday level in more than 2 1/2 years after its BioReference Laboratories unit said it will provide Covid-19 tests to the National Football League this year.

Jon Cohen, BioReference’s executive chairman, said on CNBC’s “Mad Money” program that the tests would be administered to all 32 teams. Opko, in a brief filing, said the unit had reached an agreement in principle with the league.

The agreement expands BioReference’s footprint in the pro-sports world. Earlier this month, it said it has agreements to provide testing to the National Basketball Association and Major League Soccer.

As sports leagues try to safely resume events, discussions around testing for Covid-19 have been key. In the NFL, daily testing of players and other employees will be required for the first two weeks of training camp with plans to scale back depending on test rates.

Opko shares, which surged as much as 31% Tuesday, have quadrupled this year.

In early June, Opko received FDA authorization to begin Phase 2 trials of Rayaldee as a treatment for patients with mild-to-moderate cases of Covid-19.

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