U.S. markets closed
  • S&P 500

    3,825.33
    +39.95 (+1.06%)
     
  • Dow 30

    31,097.26
    +321.86 (+1.05%)
     
  • Nasdaq

    11,127.84
    +99.14 (+0.90%)
     
  • Russell 2000

    1,727.76
    +19.77 (+1.16%)
     
  • Crude Oil

    110.66
    +2.23 (+2.06%)
     
  • Gold

    1,808.30
    +6.80 (+0.38%)
     
  • Silver

    19.93
    +0.27 (+1.36%)
     
  • EUR/USD

    1.0426
    0.0000 (-0.00%)
     
  • 10-Yr Bond

    2.8890
    0.0000 (0.00%)
     
  • GBP/USD

    1.2104
    +0.0001 (+0.01%)
     
  • USD/JPY

    135.6930
    +0.5180 (+0.38%)
     
  • BTC-USD

    19,778.25
    +254.10 (+1.30%)
     
  • CMC Crypto 200

    429.44
    +9.30 (+2.21%)
     
  • FTSE 100

    7,232.65
    +64.00 (+0.89%)
     
  • Nikkei 225

    26,153.81
    +218.19 (+0.84%)
     

Bone Health Focused Radius Health Goes Private In $890M Deal

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Radius Health Inc (NASDAQ: RDUS) will be acquired by Gurnet Point Capital and Patient Square Capital in a transaction valued at approximately $890 million, including the assumption of debt and assuming full payment of the CVR (Contingent Value Right).

  • Gurnet Point and Patient Square will pay $10.00 per share in cash plus a CVR of $1.00 per share payable upon Tymlos (abaloparatide) net sales reaching $300 million by 2025.

  • The FDA approved Tymlos for postmenopausal women with osteoporosis at high risk for fracture.

  • Other products in Radius' pipeline include abaloparatide injection for men with osteoporosis, elacestrant (RAD1901) for hormone-receptor-positive breast cancer out-licensed to Menarini Group, and RAD011, a synthetic cannabidiol oral solution for neurological indications.

  • Related: Menarini, Radius Health's Elacestrant Prolongs Progression-Free Survival In Breast Cancer.

  • Including the CVR payment, Radius shareholders will receive up to $547 million in cash.

  • "The acquisition of Radius by Gurnet Point and Patient Square provides our shareholders with attractive, immediate value at a compelling premium, in addition to the potential future upside of TYMLOS through the CVR," said Owen Hughes, Chairman of Radius Health.

  • The transaction is expected to close in the third quarter of 2022.

  • Price Action: RDUS shares are 14.2% at $10.13 during the market session on the last check Thursday.

  • Photo by Capri23auto from Pixabay

See more from Benzinga

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.