08:38 AM EDT, 07/18/2024 (MT Newswires) -- OPKO Health ( OPK ) said Thursday its board has approved the repurchase of up to $100 million of its common stock.

The company said the repurchase is expected to be funded with existing and future cash flows.

With 697 million shares outstanding as of June 30, the buyback represents about 10% of the total shares at the current stock price, OPKO said.

OPKO shares were up more up 9.2% in recent premarket activity.

Price: 1.5499, Change: +0.13, Percent Change: +9.15