Why Opko Health Stock Is Crashing This Week

Shares of Opko Health (NASDAQ: OPK) were crashing 32.3% lower this week as of the market close on Thursday, based on data from S&P Global Market Intelligence. The steep decline came after Opko and its partner, Pfizer (NYSE: PFE), announced after the market close on Jan. 21, 2022 that the U.S. Food and Drug Administration (FAD) issued a Complete Response Letter (CRL) for the Regulatory Filing for approval of human growth hormone somatrogon. The FDA's decision was surprising considering that the human growth hormone has already received approvals in several other countries.