Radius Health gains over 10% as major investor backs board changes

Jun. 16, 2022 3:59 PM ETRadius Health, Inc. (RDUS)By: Dulan Lokuwithana, SA News Editor1 Comment

Meeting moderator

Raycat/iStock via Getty Images

  • The commercial-stage biotech added more than 10% Thursday after hedge fund manager and one of the company’s major shareholders Rubric Capital Management announced its support for an activist slate of board members.
  • Noting what it called “company’s underperformance and poor corporate governance,” Rubric outlined several initiatives to boost shareholder value, including changes to the management.
  • Rubric, with an ownership of nearly 14.6% of the company, said it plans to vote for three director candidates nominated by activist investors, Velan Capital and Repertoire Partners, when Radius (NASDAQ:RDUS) holds its annual shareholder meeting on July 08.
  • Value enhancing measures listed by Rubric include plans to maximize the value of osteoporosis injection, Tymlos. Early this month, Radius (RDUS) said it would halt the development of its patch version.

Recommended For You

Comments (1)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.