1. Scrip
  2. >>Business
  3. >>Financing

Finance Watch: Opko's Stock Halted As Nasdaq Awaits An Explanation For SEC Pump-And-Dump Lawsuit

 
• By Mandy Jackson

Public Company Edition: An SEC complaint alleges that the company, Opko CEO Frost and co-defendants bought penny stocks, pumped up their value, then dumped shares for sizeable profits. Also, Pfizer and Retrophin float debt offerings, while Zealand sells royalties and milestone fees to raise cash.

Finance Watch

Trading of Opko Health Inc. shares on Nasdaq was halted by the exchange on Sept. 7 and the company said on Sept. 11 that trading will not resume until the company provides a satisfactory response to Nasdaq's questions about a US Securities and Exchange Commission (SEC) lawsuit alleging that Opko and its Chairman and CEO Phillip Frost participated in pump-and-dump stock trading schemes.

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Financing

Korea State R&D Fund Seeks Continuity To Enable Seamless Support

 
• By Jung Won Shin

The CEO of a South Korean state-run drug R&D support fund urges the renewal of the initiative as it increasingly focuses on new modalities and novel targets.

Alis Biosciences Launches To Free Cash From Stalled-Out Biotechs

 
• By Mandy Jackson

As investors have begun to ask troubled drug developers to suspend operations and return remaining cash to shareholders, Alis has stepped forward with a new fund aiming to facilitate that.

Finance Watch: Investors Push ESSA Pharma, Elevation Oncology To Wind Down

 
• By Mandy Jackson

Restructuring Edition: ESSA and Elevation are reviewing strategic alternatives after trial failures, but each has an investor urging them to liquidate. Also, Third Harmonic and Vincerx are winding down, while Keros and Tempest are assessing options, but Opthea and OPM are cutting jobs.

Finance Watch: Biopharma Sees An Early April VC Mega-Round Surge

 
• By Mandy Jackson

Private Company Edition: After Q1 venture capital investment slumped relative to 2024 totals due to declines in both smaller financings and mega-rounds, Q2 started off with six $100m-plus financings in the first half of April after there were only three in February and six in all off March.

More from Business

Stock Watch: Dollar Weakness, Tariffs, Biosimilars In J&J’s Q1 Mix

 
• By Andy Smith

Announcing increased full-year earnings guidance and another dividend increase, Johnson & Johnson’s stock price weakened, outweighed by concerns about the replacement of Stelara revenues and possible drug import tariffs.

Roche US Exports To Exceed Imports After New $50bn Investment

 
• By Andrew McConaghie

A brand new R&D center in Massachusetts and a giant manufacturing site for its future obesity drugs are among the key investments in the US.

Korea State R&D Fund Seeks Continuity To Enable Seamless Support

 
• By Jung Won Shin

The CEO of a South Korean state-run drug R&D support fund urges the renewal of the initiative as it increasingly focuses on new modalities and novel targets.