Radius Recycling, Inc. - RDUS STOCK NEWS

Radius Health, Inc. (NASDAQ: RDUS) has announced significant global expansion for its product TYMLOS (abaloparatide) through new agreements with Labatec Pharma SA (Switzerland and MENA), Pharmbio Korea Inc. (South Korea), and Biosidus (Colombia). This adds 13 new countries outside the U.S., joining Japan and Canada. Radius anticipates regulatory approvals in Japan and Canada by the end of 2022, with potential launches in up to four markets in the first half of 2023. The company will receive milestone payments along with cost of goods sold considerations from these agreements.

Velan Capital Investment Management and Repertoire Partners, owning approximately 7.7% of Radius Health, Inc. (RDUS), filed a proxy statement for the election of their nominees, Eric Ende, Cynthia Flowers, and Ann MacDougall, to the Board. They criticize the current Board for value destruction, poor governance, and mismanagement. Velan-Repertoire argues that substantial change is essential to unlock the company's potential and urges shareholders to vote for their nominees at the July 8, 2022 Annual Meeting.

Radius Health (NASDAQ: RDUS) and Menarini Group announced promising results from the EMERALD phase 3 trial presented at the 2022 ASCO Annual Meeting. The trial evaluated elacestrant, an investigational oral selective estrogen receptor degrader (SERD), in ER+/HER2- metastatic breast cancer patients without prior chemotherapy. Results showed a significant prolongation of progression-free survival (PFS) in this subgroup, with a 31% reduction in progression or death risk (HR=0.681; P=0.00388). Elacestrant achieved median PFS of 3.68 months versus 1.97 months for standard care.

Radius Health (Nasdaq: RDUS) filed its definitive proxy statement for the 2022 Annual Meeting of Stockholders, scheduled for July 8, 2022. The company urges shareholders to vote for its independent director nominees—Catherine J. Friedman, Jean-Pierre Garnier, Ph.D., and Andrew C. von Eschenbach, M.D.—to support continued progress under a refreshed Board and management. Key achievements since 2020 include a 20% reduction in SG&A expenses, a 66% increase in net revenue per employee, and a strengthened capital structure aimed at long-term value creation.

Radius Health provided an update on its abaloparatide transdermal system (abalo-TDS) development program. Following regulatory feedback, the company determined that an additional clinical trial is needed to proceed, with a potential launch now pushed to the second half of 2025. Consequently, Radius will cease work on abalo-TDS, eliminating prospective costs exceeding $100 million over the next three years. The decision reflects a strategic capital management approach amid delays and additional funding requirements.

Radius Health, Inc. (Nasdaq: RDUS) announced the appointment of Jennifer A. Jarrett and Susan Vissers Lisa as new independent directors, enhancing the Board's expertise and gender diversity. Both directors bring significant experience from the life sciences sector, with Jarrett serving as COO of Arcus Biosciences and Lisa as former Senior VP of Investor Relations at CVS Health. In addition, the Board proposed corporate governance changes to allow easier charter amendments and implement proxy access for long-term shareholders. These changes aim to align interests with shareholders.

The EMERALD phase 3 clinical trial has successfully met its primary endpoints, demonstrating that elacestrant significantly improves progression-free survival (PFS) in patients with ER+/HER2- advanced breast cancer. The 12-month PFS rate for elacestrant was 22.3% compared to 9.4% for standard treatments. Notably, elacestrant reduced the risk of disease progression or death by 30% overall and 45% for patients with ESR1 mutations. This marks elacestrant as the first oral selective estrogen receptor degrader with significant benefits in a phase 3 trial, with continued research planned for combination therapies.

Radius Health reported Q1 2022 net revenue of $43 million, slightly down from $45 million in Q1 2021, aligning with its 1H 2022 target of $97 million. The company reiterated its full-year TYMLOS revenue guidance of $232 million. A 4% increase in average active patients was noted. However, a net loss of $18.3 million was recorded, compared to $15.7 million in Q1 2021. Noteworthy developments include a filed sNDA for TYMLOS in men and a new patent extending exclusivity to 2040.

Radius Health (Nasdaq: RDUS) is set to release its first quarter 2022 financial results on May 5, 2022. A conference call will be held at 8:30 a.m. ET to discuss the results and provide a business update. Interested parties can join via domestic dial-in number 1 (866) 323-7965 or internationally at 1 (346) 406-0961, using conference ID 5844208. The call will also be streamed live and archived for future access on Radius's website. This event underscores Radius's commitment to keeping investors informed on its financial performance.