Radius Health, Inc. RDUS reported a loss of 65 cents per share in the third-quarter of 2015, wider than the Zacks Consensus Estimate of a loss of 58 cents per share as well as the year-ago loss of 59 cents per share.
The company has yet to generate any revenues.
The Quarter in Detail
Research and development (R&D) expenses were $18.2 million, up 31.8% year over year. Higher R&D expenses reflect an increase in compensation costs and consulting costs related to the submission of a new drug application (NDA) and marketing authorization application (MAA) for abaloparatide-SC and was partially offset by reduction in phase III costs related to abolparatide-SC.
General and administrative expenses went up by 198.2% to $8.5 million. This was primarily due to an increase in professional support costs and legal fees that included the costs related to preparations for the potential commercialization of abaloparatide-SC.
The company remains on track to submit for U.S. and EU approval of abaloparatide-SC for the treatment of postmenopausal osteoporosis (PMO) by the end of 2015.
Approval would allow Radius to record first commercial sales in 2016. Additionally, Radius intends to study the optimized abaloparatide-TD patch (short-wear-time transdermal patch) later this year.
Meanwhile, patient enrolment in the phase I multicenter, open-label, two-part, dose-escalation study of RAD1901 in postmenopausal women with advanced estrogen receptor positive and HER2-negative breast cancer continues An update on this study should be out at the San Antonio Breast Cancer Symposium in early December.
Radius is also developing low dose RAD1901 for the treatment of postmenopausal vasomotor symptoms and expects to commence a phase IIb study by year end.
Radius Health carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the health care sector are Actelion Ltd. ALIOF, Spectrum Pharmaceuticals, Inc. SPPI and Concordia Healthcare Corp. CXRX. Each carries a Zacks Rank #1 (Strong Buy).
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