Radius Health (RDUS -14.3%) is down on 25% higher volume despite reporting Q3 results that beat expectations.
Investors appear to be reacting to an extended timeline for its abaloparatide patch for osteoporosis. Citing slower-than-expected recruitment due to a higher-than-anticipated rejection rate at screening, topline data from its Phase 3 wearABLe study will not be available until H2 2021. A revised enrollment plan is being implemented to address the issue.
Sales of injectable abaloparatide, branded as Tymlos, were $47M in the quarter, up 69%.
Recruitment in the Phase 3 EMERALD trial evaluating elacestrant in patients with ER+/HER2- breast cancer should be completed in Q3 2020. This is the only study that it plans to complete because it intends to divest its oncology assets.
Previously: Radius Health EPS beats by $0.29, beats on revenue (Nov. 5)
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