Radius Health beats by $0.12, misses on revs; raises low-end of FY19 revs guidance (21.06)
- Reports Q1 (Mar) loss of $0.70 per share, excluding non-recurring items, $0.12 better than the two analyst estimate of ($0.82); revenues rose 105.1% year/year to $29.84 mln vs the $35.35 mln S&P Capital IQ Consensus.
- In the first quarter of 2019, Radius made continued progress in its readiness for clinical supplies for its planned Phase 3 study, reaching targeted scale-up of production and completing analytical method validations. Clinical supplies are planned to be manufactured in the second quarter of 2019 for the Phase 3 study, which the Company expects to initiate in August 2019.
- Co issues in-line guidance for FY19, sees FY19 revs of $160-175 mln (Prior $155-175 mln) vs. $170.33 mln S&P Capital IQ Consensus; increases guidance for its year-end cash, cash equivalents and investments balance from over $100 million to over $110 million.
- As of March 31, 2019, Radius had $204.7 million in cash, cash equivalents, restricted cash, and marketable securitie