Benzinga | Dec 15, 2020 09:13AM EST

Radius Health Offers Update On Commercial Progress, Research, Talent

Radius Health, Inc. ("Radius" or the "Company") (NASDAQ:RDUS) provided a general business update on progress made since October 2020. The key areas of activity and progress are outlined below.

Commercial Progress

The Company's focus on postmenopausal osteoporotic fracture patients continues to gain traction. In the month of November, a truncated sales month due to the Thanksgiving holiday, Radius added 1,326 net new patients. Net new patients are defined as those patients who have been prescribed TYMLOS-SC and subsequently received their first dose. This represents an 8.0% increase from the previous four-month trailing average.

The Company adjusted this comparative metric from a three-month trailing average to a four-month trailing average to incorporate any seasonal factors more broadly, such as holidays, as well as COVID-19.

The current fourth quarter 2020 forecast for TYMLOS-SC net revenue projects a record quarter for the product since its launch. The previous quarterly net revenue high of $56,700,000 was reported in fourth quarter 2019.

Research Progress

Radius has entered into a discovery research collaboration with Massachusetts General Hospital (MGH). The Radius team of scientists will work with Marc Wein, MD, PhD, an Assistant Professor of Medicine at Harvard Medical School and an endocrinologist with a clinical focus on osteoporosis and metabolic bone diseases.

The core of the collaboration is to evaluate efficacy, safety, and specificity of small molecules as potential oral anabolic treatment for a broad array of musculoskeletal diseases. The area of focus includes salt inducible kinases and SIK inhibitors.

Radius has an exclusive option to license the IP as the collaboration progresses.

Talent Progress

Peter Butler, MD, FACE has been hired as Executive Director and Head of Clinical Development for the abaloparatide program. Dr. Butler is board certified in both Internal Medicine as well as Endocrinology and had a fellowship in Endocrinology, Diabetes and Metabolism at the National Institute of Health (NIH) in Bethesda, Maryland.

He is a graduate of Cambridge University in the UK. Prior to joining Radius, Peter was a Clinical Research Medical Director in bone therapeutics at Amgen and was acting Global Development Lead for denosumab. Peter will report to Chhaya Shah -- Head of the abaloparatide product from a clinical, regulatory and supply chain point of view.

The Company will continue to provide business and progress updates as appropriate.