The stock price of Radius Health (NASDAQ: RDUS) entered the market open as one of today’s best early performers, with a price gain of nearly 40% and rising quickly. The surge comes as a welcomed response to the company announcement regarding positive results in a recent breast cancer study with the Menarini Group.
The study – named Emerald – was designed to test the viability of elacestrant; a non-steroidal treatment for advanced or metastatic breast cancer, as a potential monotherapy. The study was focused on two key goals, progression-free survival (PFS) in the general population and those with tumors harboring estrogen receptor 1 mutations.
Investors reacted well to the news that both goals were met effectively – with the test population showing significant PFS and demonstrating the safety of elacestrant. Radius is currently planning on submitting regulatory proposals in the US and EU in 2022.
Kelly Martin, CEO of Radius Health announced:
“Completing the EMERALD trial was a tremendous effort given the myriad of Covid related obstacles across the globe. Our collective teams did an outstanding job delivering the results of the trial in a high-quality and, ultimately, successful manner.”
Adding:
“The Menarini Group and its leadership team are terrific partners. All of us at Radius look forward to supporting them through U.S. NDA submission.”
With medical innovation constantly creating new possibilities; investors are not shy with their support. Last month, Transcode (RNAZ) gapped 60% following positive results for metastatic cancers, with BriaCell (BCTX) also seeing gains with overall patient improvement.
Reaching peak gains of 48% as the Wednesday market opened its doors, Radius stock has slowed a little – currently showing gains of 37% while the stock tips over the $21 mark.
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