Radius Health Inc (NASDAQ:RDUS) closed Thursday’s trading session at $18.28, a week after it revealed its financial and operating figures for the 2018 fourth quarter as well as the fiscal year ended December 31, 2018.
The company managed to achieve a net sales figure of $34.4 million from TYMLOS in Q4, 2018 and this figure was 25% higher than the net sales amount that Radius Health reported in Q4, 2017. TYMLOS’ net sales figure for the full year 2018 was $99.2 million which was also significantly higher than the figure reported in the previous year.
“I am very pleased with the continued strong performance of TYMLOS in the U.S. market. In 2019, we expect to continue expanding our market share for TYMLOS in the U.S,” stated Radius Health CEO, Jesper Hoeiland.
The Radius Health CEO also noted that the company plans to kick off abaloparatide-patch and pivotal elacestrant Phase 3 clinical trials. The firm reported that TYMLOS was covered for roughly 283 million insured people in the U.S. which means that it is well placed to maximize revenue.
Radius Health also issued financial guidance for 2019
Radius Health revealed that it expects TYMLOS to range from $155 to $175 million in 2019 against the $99.2 million net sales reported from the U.S market in 2018. The guidance for this year is significantly higher the 95 to $98 million net sales guidance that the company provided for 2018 that it surpassed with the actual figure coming in at $99.2 million.
The biopharma also expects its investments balance, cash, and cash balance to be more than $100 million in 2019 against the $237 million reported in 2018. In comparison, the previous year’s investments balance cash and a cash balance of $237 million which lived up to its prediction of over $220 million.
As far as the company’s pipeline is concerned, Radius has so far made significant steps forward in scaling up for abaloparatide-patch’s commercial supply. The firm has also teamed up with its selected partner, 3M to complete designs for engineering equipment for abaloparatide-patch coating as well as packaging activities.