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Wednesday, September 22, 2021

Why RDUS Stock surged after going down in Wednesday’s morning session?

Radius Health Inc.(RDUS) stock made a good recovery in Wednesday’s after-hours session after losing 9% in the morning session. It gained 19.49% in the after-hours session on March 24, 2021, after the company issued an update about Abaloparatide.


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Regulatory approval of Ostabaro in Japan

The stock went up when Radius Health Inc. announced on March 24, 2021, that its partner Teijin Pharma Limited had achieved regulatory approval in Japan for Ostabaro, abaloparatide acetate for the treatment of osteoporosis. The medicine can also be used to promote bone formation in both female and male patients with a high risk of fractures.

The two companies are in discussion to widen their partnership to include abaloparatide-TD in Japan.

The Radius is looking to re-file abaloparatide in the EU and has notified the European Medicines Agency (EMA) of its intentions.

Upsizing loan facilities;

On March 3, 2021, RDUS announced to get the amended and restated credit facility of $175 million. The company will borrow a  $150 million term loan and a $25 million revolving credit facility which is a  significant upsize from RDUS prior loan facilities.

Recent Fiscal results

On February 25, 2021, RDUS reported its financial results for the fourth quarter ended December 31, 2020,and full-year 2020 results.

Fourth Quarter 2020 Financial Highlights

  • RDUS earned a revenue of $59.9 million from TYMLOS sales in Q4 2020, compared to approximately $55.7 million for the same period in 2019.
  • RDUS suffered a net loss of $21.4 million, or $0.46 per share for the 4Q 2020, compared to a net loss of $24.7 million, or $0.54 per share, for the same quarter in 2019.
  • non-GAAP adjusted net income was $10.8 million, or $0.23 per share for the reported quarter, compared to a non-GAAP adjusted net loss of $13.3 million, or $0.29 per share, for the three months ended December 31, 2019.
  • The company spent $36.4 million in research and development expenses compared to $34.5 million for the three months ended December 31, 2019.

The full-year 2020 Financial Highlights

  • TYMLOS net product revenues were $208.4 million for 2020 compared to $173.3 million for the previous year.
  • RDUS suffered a net loss of $109.2 million or $2.35 per share for the twelve months ended December 31, 2020, compared to a net loss of $133.0 million, or $2.89 per share in 2019.
  • it reported a non-GAAP adjusted net loss of $62.3 million, or $1.34 per share for the said year, compared to a non-GAAP adjusted net loss of $90.9 million, or $1.98 per share the prior year.
  • RDUS spent $159.7 million in research and development expenses compared to $116.8 million for the twelve months ended December 31, 2019.
  • general and administrative costs were $144.2 million for the reported year compared to $152.7 million for the twelve months ended December 31, 2019.
  • Radius had $115.3 million in cash, cash equivalents, restricted cash, and marketable securities as of December 31, 2020.

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