Radius IPO Filing: Targeting Bone Loss in Osteoporosis (RDUS)

Radius Health Inc. has now filed its paperwork with the SEC that will allow it to go through an initial public offering for its common stock. While no terms were listed, its filing is for up to $86.25 million in funds.  The shares will be listed on the NASDAQ Global Market under the symbol “RDUS.”

Underwriters are UBS Investment Bank and also Leerink Swann as the book-running managers, and the co-managers are listed as Cowen and Company and also Rodman & Renshaw. 

Radius is a biotech or “pharmaceutical” pre-revenue stage outfit that is focused on developing and commercializing treatments for women.  The company’s lead product candidate is BA058 and the target is to rapid formation of bone in women with osteoporosis.  As far as what the use of funds is, that is to fund the clinical trials and development of product candidates.  It also listed the “general corporate purposes” use as well.

Here is a key figure used by the company: 10 million Americans have already been diagnosed with osteoporosis.  The larger number is that an additional 34 million people have low bone mass.

Again, this is pre-revenue.  As with most pre-revenue biotechs it has a history of posting losses: 2011 was -$42.5 million and 2010 was -$14.6 million.  The wider loss is on higher R&D expenses.

The full SEC FILING is here.