Radius Recycling, Inc. - RDUS STOCK NEWS

The Menarini Group and Stemline Therapeutics announced the FDA's acceptance of the New Drug Application (NDA) for elacestrant, a potential treatment for ER+/HER2- advanced or metastatic breast cancer. The FDA has granted Priority Review with a PDUFA date of February 17, 2023. The NDA is supported by Phase 3 EMERALD study results, showing elacestrant's statistically significant efficacy over standard treatment, with a 30% reduced risk of progression in all patients and a 45% reduction in patients with ESR1 mutations. Elacestrant remains investigational and not yet FDA-approved.

Velan Capital Investment Management and Repertoire Partners, holding approximately 7.7% of Radius Health's outstanding shares, announced their withdrawal of director nominations following a proposed sale to Gurnet Point Capital and Patient Square Capital. They believe the sale price does not fully reflect the value of the company and its assets, but express satisfaction that their involvement may help stockholders recover some lost value under the current Board of Directors. They also thanked their qualified director candidates and supporters.

Radius Health, Inc. (Nasdaq: RDUS) encourages stockholders to vote 'FOR' their independent director nominees – Catherine J. Friedman, Jean-Pierre Garnier, Ph.D., and Andrew C. von Eschenbach, M.D. – using the BLUE proxy card ahead of their Annual Meeting on July 26, 2022. The company also shared an investor presentation detailing its progress since 2020 and the board's unanimous approval of a significant acquisition by Gurnet Point Capital and Patient Square Capital, offering stockholders a premium on their shares.

Radius Health announced the initiation of the SCOUT-015 pivotal study for RAD011, a synthetic cannabidiol solution targeting hyperphagia in Prader-Willi Syndrome (PWS), affecting 20,000-30,000 patients in the US. The trial, currently featuring 9 active US sites, aims for over 30 global locations and includes multiple dose assessments. RAD011 has received Orphan Drug Designation and Fast Track status from the FDA. Presentations about SCOUT-015 are planned at upcoming conferences. Radius continues to seek patient recruitment to advance this critical clinical trial.

Velan Capital and Repertoire Partners, significant shareholders of Radius Health (RDUS) owning 7.7% of shares, have commented on Gurnet Point Capital and Patient Square Capital's proposed acquisition of Radius valued at $890 million. They express satisfaction that others see untapped value in Radius but highlight concerns over the fairness of the offer. The group advocates for the election of their director nominees, emphasizing their potential to contribute valuable insights whether Radius remains independent or proceeds with the acquisition.

Radius Health, Inc. (Nasdaq: RDUS) has entered into a definitive agreement to be acquired by Gurnet Point Capital and Patient Square Capital for approximately $890 million. The transaction offers Radius shareholders $10.00 per share in cash, plus a potential $1.00 contingent value right (CVR) based on TYMLOS® sales reaching $300 million over a specified period. This acquisition represents a 45% premium over the 30-day average stock price and has been unanimously approved by Radius's board, aiming to maximize shareholder value.

Radius Health and Menarini have submitted a New Drug Application (NDA) to the FDA for elacestrant, an investigational oral SERD for treating ER+/HER2- advanced breast cancer. The submission includes a request for Priority Review, which could lead to an 8-month review timeline. The NDA is based on positive results from the EMERALD study, which demonstrated significant efficacy in patients, including those with ESR1 mutations. Menarini plans to manage commercialization in the U.S. via its subsidiary, Stemline Therapeutics.

Velan Capital and Repertoire Partners, major stockholders of Radius Health (RDUS), advocate for a board reconstitution ahead of the July 8, 2022 Annual Meeting. They cite a 60% employee turnover and a 10% decline in net sales since CEO Martin's tenure began. The current board's governance has led to persistent value destruction, with Radius' stock price down 59% over the past year. Velan-Repertoire urges stockholders to vote for their nominees, citing significant upside potential and promising a roadmap to generate over $100 million in annual Adjusted EBITDA.

Rubric Capital Management, holding 14.62% of Radius Health (NASDAQ: RDUS), announced plans to support Velan-Repertoire's director candidates at the upcoming annual meeting on July 8, 2022. The investment firm expressed concerns over Radius's corporate governance and management's ability to enhance shareholder value. Key initiatives proposed include maximizing the value of Tymlos and elacestrant royalty, generating cash flows from tax attributes, and empowering a top-tier management team. Rubric believes that Radius shares could see an upside of 80%-135% based on a comprehensive evaluation of its assets.