Welcome to our dedicated page for Radius Recycling news (Ticker: RDUS), a resource for investors and traders seeking the latest updates and insights on Radius Recycling stock.
Radius Recycling, Inc. (NASDAQ: RDUS), formerly known as Schnitzer Steel Industries, Inc., stands as a prominent figure in North America's recycling and steel manufacturing industry. Established in 1906 in Portland, Oregon, the company has evolved from a small, one-man scrap metal operation into a major player in the market, boasting a diversified and vertically integrated business model.
Radius Recycling specializes in the recycling of ferrous and nonferrous metals, including end-of-life vehicles, and the manufacture of finished steel products. Their operational network comprises 54 metals recycling facilities, 50 self-service auto parts stores, and an electric arc furnace steel mill. This extensive infrastructure enables Radius to meet global demand efficiently.
Key Business Units:
- Metals Recycling Business: Processes a substantial quantity of recycled ferrous and nonferrous metals, significantly contributing to environmental sustainability and resource conservation.
- Auto Parts Business: Operates 50 retail stores selling serviceable parts from salvaged vehicles, receiving over 4 million annual visits from retail customers.
- Steel Manufacturing Business: Produces a variety of finished steel products, including rebar and wire rod, using eco-friendly electric arc furnace technology.
Despite the challenges posed by tight supply flows and adverse weather conditions impacting sales volumes, Radius Recycling has demonstrated resilience and adaptability. Recent productivity initiatives aim to reduce selling, general, and administrative expenses by 10%, alongside increasing production efficiencies, expected to yield $40 million in annual benefits.
Recent Financial Highlights:
- Revenue: Achieved $2.5 billion in fiscal 2014, reflecting robust market presence and operational efficiency.
- Global Reach: Positions in 25 states, Puerto Rico, and Western Canada, with deep-water export facilities expanding its market access.
- Strategic Initiatives: Focused on enhancing nonferrous production and expanding recycling services, positioning the company favorably against market headwinds.
Under the leadership of Tamara Lundgren, Chairman and CEO, Radius Recycling remains focused on cost control, operational efficiency, and strategic growth. The company's commitment to sustainability and low-carbon technologies aligns with global decarbonization trends, positioning Radius to capitalize on future market opportunities.
Partnerships and Projects: Radius continues to invest in advanced metal recovery technologies and expand its recycling platform, supporting its mission of promoting environmental sustainability and efficient resource use.
The company will report its financial results for the second quarter of fiscal 2024 on April 4, 2024, with a webcast conference call hosted by Tamara Lundgren and Stefano Gaggini, Senior Vice President and CFO, to discuss the results.
Radius Health (RDUS) reported Q2 2021 net revenue of $52 million, an increase of 3% year-over-year. The company achieved a significant reduction in adjusted EBITDA losses, reporting ($6) million compared to ($29) million in Q2 2020. However, FY 2021 TYMLOS revenue guidance was lowered from $250 million to $240 million. The company maintains a strong liquidity position with $100 million in cash. Adjusted net loss improved to ($10.5 million) from ($31.1 million) in the same quarter last year.
Radius Health (NASDAQ: RDUS) reported significant growth in new TYMLOS patients, with over 5,000 added in Q2 2021, marking a 40% increase year-over-year. The company expects topline results from the ATOM and wearABLe Phase 3 trials in the second half of 2021 and plans to resubmit regulatory filings in Europe by Q4 2021. Additionally, a pivotal trial for RAD011 targeting Prader-Willi Syndrome is set to begin either in Q4 2021 or Q1 2022. The company aims to demonstrate RAD011's efficacy and safety for FDA approval.
Radius Health (NASDAQ: RDUS) recently revealed FDA Type C meeting minutes that clarify the Phase 2/3 study design for RAD011, a synthetic cannabidiol oral solution aimed at treating Prader-Willi Syndrome (PWS). The company plans to initiate the pivotal SCOUT study by the end of 2021 or early 2022, targeting approximately 200 patients across 30+ global sites, with top-line results expected in late 2024. RAD011 has received Orphan Drug and Fast Track designations, facilitating its regulatory pathway.
Radius Health, Inc. (Nasdaq: RDUS) will release its second quarter financial results on August 5, 2021, and host a conference call at 8:30 a.m. ET to discuss the results and provide updates. Investors can join the conference at 1 (800) 446-1671 or 1 (847) 413-3362 using conference ID 50202646. A replay will be available later that day. Radius is focused on addressing unmet medical needs in endocrinology and has a pipeline including TYMLOS® and investigational drugs for osteoporosis and breast cancer.
Radius Health, Inc. (NASDAQ: RDUS) reported a modest increase in new patients for TYMLOS, with approximately 1,650 new patients added in April, reflecting a 1% growth compared to the previous four months. The FDA provided guidance on generic peptide approval, indicating challenges for future generic versions of abaloparatide. The company anticipates pivotal trials for RAD011 addressing Prader-Willi Syndrome and continued technical development for the abaloparatide depot formulation in the second half of 2021.
Radius Health reported Q1 2021 total net revenue of $56 million, a 17% increase from $48 million in Q1 2020. However, TYMLOS U.S. product revenue declined 6% year-over-year to $45 million. The company's adjusted EBITDA improved to ($5 million) from ($26 million) in the prior year. The net loss decreased to $15.7 million or $0.34 per share, compared to $37.7 million or $0.81 per share in Q1 2020. Humana has added TYMLOS to its Medicare Advantage Plans, expanding coverage for ~5 million beneficiaries.
Radius Health, Inc. (Nasdaq: RDUS) reported a 14% growth in new U.S. TYMLOS patients in Q1 2021 compared to Q4 2020. However, the net revenue for Q1 was impacted by seasonality and distribution channel destocking. Positive indications for future growth are evident with strong patient additions in April. The company is on track for multiple pivotal studies and successful outcomes from recent human factor studies, paving the way for regulatory submissions. A Type C FDA meeting for RAD011 is scheduled for June 2021, examining additional orphan indications.
Radius Health (Nasdaq: RDUS) will release its first quarter financial results on May 7, 2021, at 8:30 a.m. ET, followed by a conference call and live audio webcast. The call will discuss the financial outcomes and provide company updates. A replay will be available later that day and archived for ninety days. Radius focuses on unmet medical needs in endocrinology, with its lead product TYMLOS® approved for postmenopausal women at high risk for fracture. The company has multiple investigational drugs in its pipeline, enhancing potential future growth.
Radius Health's partner, Teijin Pharma, achieved regulatory success in Japan with the approval of Ostabaro® for osteoporosis treatment in high-risk patients. This approval positions Japan as the largest anabolic market globally, generating a $10 million milestone for Radius. The company plans to re-file abaloparatide in the EU by Q4 2021 after a thorough consultation process. Additionally, TYMLOS® is experiencing new patient growth, with an estimated 4,742 new patients in Q1 2021, up from 4,495 in Q4 2020, while reaffirming a $250 million revenue target for 2021.
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