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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 (Nasdaq: RDUS) will announce its fourth quarter financial results on February 25, 2021, followed by a conference call at 8:30 a.m. ET. The call will provide insights into the company’s performance and future prospects. Investors can listen to the live audio webcast on the company’s website, and a replay will be available later that day. Radius focuses on innovative endocrine therapeutics, with its lead product TYMLOS (abaloparatide) approved for osteoporosis treatment. The company is also advancing several investigational drugs in its pipeline.
Radius Health reported a 17% increase in new TYMLOS® patients in January 2021, totaling 1,692 new patients compared to prior months. The company highlighted recent publications in the Journal of Bone & Mineral Research and Journal of Clinical Endocrinology & Metabolism that underscore the efficacy and safety of the abaloparatide molecule. Ongoing regulatory activities are on schedule in the U.S., Japan, Canada, and the E.U. Radius is also focused on completing the ATOM study and wearABLe study for further development of TYMLOS.
On January 6, 2021, Radius Health, Inc. (Nasdaq: RDUS) announced that CEO Kelly Martin will present a virtual corporate update at the 39th Annual J.P. Morgan Healthcare Conference on January 13 at 9:10 a.m. EST. A live webcast can be accessed through the Investors section of Radius' website, with a replay available for 90 days post-presentation.
Radius is a biopharmaceutical company focused on endocrine therapeutics, with its lead product TYMLOS approved for treating high-risk osteoporosis in postmenopausal women. The company is also exploring treatments for men with osteoporosis and hormone-receptor positive breast cancer.
Radius Health has acquired global development rights to RAD011, a synthetic cannabidiol oral solution, for $12.5 million, with up to $60 million in milestone payments. The drug targets Prader-Willi syndrome (PWS), an orphan disease, and has received Orphan Drug and Fast Track Designation from the FDA. The acquisition will be funded through existing operations, minimizing shareholder dilution. Radius expects to initiate a pivotal Phase 2/3 study for PWS in late 2021, with potential top-line data available by 2023. A one-time charge of up to $16 million is expected in Q4 2020 due to the acquisition.
On January 5, 2021, Endo International plc (NASDAQ: ENDP) announced a licensing agreement with Radius Health, Inc. (NASDAQ: RDUS) for the exclusive commercialization of abaloparatide in Canada, through its subsidiary Paladin Labs Inc. Abaloparatide is an investigational treatment for osteoporosis, with Paladin expected to file a New Drug Submission with Health Canada by Q1 2022. The drug is not yet approved in Canada, but Endo aims to address a significant treatment gap for osteoporosis patients.
Radius Health has formed an agreement with Endo Ventures to commercialize and distribute abaloparatide in Canada. This partnership includes an upfront payment and milestone payments totaling around $8 million, plus tiered royalties on net sales. Paladin Labs will manage all commercial activities, targeting a New Drug Submission to Health Canada for TYMLOS® by early 2022. The initiative marks a strategic effort to expand abaloparatide's presence in select ex-U.S. markets, reflecting Radius's commitment to growth in 2021.
Radius Health, Inc. (Nasdaq: RDUS) has appointed Machelle Sanders and Dr. Andrew C. von Eschenbach to its board of directors, filling vacancies left by Jessica Hopfield, Ph.D. and Tony Rosenberg. Sanders brings over 25 years of pharmaceutical experience, having previously led Biogen's operations for its MS franchise. Dr. von Eschenbach, a former FDA commissioner, adds significant expertise in translating science into therapeutics. Chairman Owen Hughes expressed confidence in their contributions to Radius's emerging pipeline as the company refines its focus.
Radius Health, Inc. (Nasdaq: RDUS) reported continued growth in net new patients for TYMLOS-SC, with 1,326 new patients added in November 2020, marking an 8.0% increase from the previous average. The company is on track for a record quarter in TYMLOS-SC net revenue, surpassing the previous high of $56.7 million from Q4 2019. Additionally, Radius formed a research agreement with Massachusetts General Hospital to explore small molecules for musculoskeletal diseases. Peter Butler, MD, has been appointed as Head of Clinical Development for the abaloparatide program.
Radius Health (RDUS) reported Q3 2020 net sales of TYMLOS at $50.4 million, marking an 8% year-over-year increase. The total revenue for the quarter reached $77.8 million, supported by a significant rise in net new U.S. patients, increasing by 10% in October. The company maintains a cash balance of $126 million, ensuring operational funding for at least a year. However, Radius faced a net loss of $6.3 million for the quarter, though an improvement compared to last year's loss of $30 million. Japan's market launch of abaloparatide injection is on track for 2021.
Radius Health, Inc. (RDUS) announced significant clinical and business developments. Key highlights include the completion of enrollment in three pivotal Phase III clinical trials for osteoporosis treatments and a successful data presentation at the ASBMR meeting. The company also completed two business transactions, focusing on its oncology assets and repositioning its commercial strategy towards high-risk fracture patients. Additionally, operational improvements resulted in reduced sales territories and increased operational efficiency.
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