Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Opko Health Inc. (AMEX: OPK) dropped 11% in intraday trading today after announcing plans to raise $100 million of capital via a secondary stock offering.

So what: This unprofitable company has negative operating cash flows of about $50 million annually. Opko plans to use the funds for general corporate purposes such as R&D, clinical trials, and acquiring new technologies and businesses.

Now what: The company is likely hoping that recent market strength is an opportunity to raise additional capital. Revenue has been stagnate at $7.5 million to $8 million per quarter over the last year, suggesting that new products are needed to drive growth. Unless there is a big increase in revenue and/or severe cost cutting, the losses will continue, and Opko will eventually need more cash just to survive.

Interested in more info on Opko? Add it to your watchlist here.