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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) announced the release of its third quarter financial results on November 5, 2020, with a conference call scheduled at 8:30 a.m. ET. Investors can access the call via domestic and international dial-in numbers, with a replay available later the same day. Radius focuses on developing innovative endocrine therapeutics, including its FDA-approved product, TYMLOS, for postmenopausal women with osteoporosis. The company's pipeline includes investigational treatments for osteoporosis in men and hormone-receptor positive breast cancer.
Radius Health, Inc. (Nasdaq: RDUS) has appointed Peter A. Schwartzman as Vice President of the newly created Capital, Strategy, and Transactions (CST) Group. Schwartzman previously worked at Piney Lake Capital Management and has extensive experience in healthcare investments. The CST group will handle business development analysis, due diligence, and serve as a contact point for capital providers and investment banks. This strategic move aims to enhance Radius's financial modeling and business opportunities.
Radius Health has sold its second oncology asset, RAD140, to Ellipses Pharma, allowing the molecule to progress without financial risk to Radius. This divestment reinforces Radius's focus on its core business in innovative endocrine therapeutics. RAD140, a selective androgen receptor modulator, demonstrated clinical activity in a Phase 1a study involving postmenopausal women with advanced breast cancer. Radius is set to receive royalties as the program advances under Ellipses Pharma's management.
Radius Health and Menarini Group announced the successful completion of enrollment in the Phase 3 EMERALD trial of elacestrant, an oral Selective Estrogen Receptor Degrader (SERD) targeting postmenopausal individuals with ER+/HER2- advanced breast cancer. The trial reached its goal of 466 patients, including 220 with ESR1 mutations. The independent data monitoring committee recommended the trial continues without modification after reviewing a futility analysis. Final results, focusing on progression-free survival, are expected in the latter half of 2021.
Radius Health announced reaching the target enrollment milestone in the Phase 3 EMERALD trial of elacestrant, aimed at treating advanced breast cancer. The trial enrolled 466 patients, with 220 (47%) having an ESR1 mutation. An independent data monitoring committee recommended continuing the trial without modification after a futility analysis. Results assessing progression-free survival are expected in the second half of 2021. Both Radius and Menarini Group expressed enthusiasm over this milestone and its implications for future regulatory submissions.
Radius Health, Inc. announced the immediate resignation of Chief Financial Officer Jose (Pepe) Carmona, who played a pivotal role in the company's transition to a commercial entity. Dan Dolan has been appointed as Principal Financial and Accounting Officer, while Jim Chopas continues as Controller. The company also introduced a new Capital, Strategy, and Transactions (CST) group to enhance financial management and investor relations. This strategic reorganization aims to support Radius's growth and operational efficiency in the biopharmaceutical sector.
Radius Health announced presentations on abaloparatide-SC at the ASBMR 2020 Annual Virtual Meeting from September 11-15, highlighting significant findings.
Dr. Charles Morris emphasized notable results from a histomorphometry study, indicating strong bone formation in postmenopausal women with osteoporosis after 3 months of treatment.
The data will include details from the Phase III study in Japan, confirming its efficacy in high-risk fracture osteoporosis patients.
Radius Health, Inc. (Nasdaq: RDUS) announced the completion of enrollment in its phase 3 'wearABLe' trial, assessing a novel transdermal abaloparatide patch for postmenopausal women with osteoporosis. Approximately 500 women were enrolled, exceeding the target of 474. The trial aims to evaluate the patch's efficacy compared to the subcutaneous TYMLOS injection over 12 months. The top-line data results are expected in Q4 2021. This innovative delivery method could offer a unique alternative for patients, marking a significant step in treating osteoporosis.
Radius Health, Inc. (Nasdaq: RDUS) is set to participate in two major virtual conferences in September 2020. The company will engage with investors at the Citi 15th Annual BioPharma Virtual Conference on September 9-10, followed by the Morgan Stanley Virtual 18th Annual Global Healthcare Conference on September 15. During the latter, Radius will provide a corporate update through a live fireside chat at 11:45 a.m. ET, accessible via their website. Additionally, their lead product, TYMLOS, is FDA-approved for treating postmenopausal women with osteoporosis.
Radius Health, Inc. (Nasdaq: RDUS) has appointed Sean Murphy to its Board of Directors. Murphy brings over 30 years of experience from Abbott Laboratories, where he led corporate business development. Chairman Owen Hughes stated that Murphy's integrity and industry expertise will enhance Radius's strategic direction. Murphy serves on several other boards, including Poseida Therapeutics and Immucor, and has advised numerous companies on strategy. The appointment aims to strengthen Radius's business model and drive growth in innovative endocrine therapeutics.
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