Biotech Values

[DewDiligence]

RDUS taken private @$10.00/sh_plus_CVR—a 12% premium to yesterday’s close:

https://www.globenewswire.com/news-release/2022/06/23/2468089/31149/en/Radius-Health-Announces-Agreement-to-be-Acquired-by-Gurnet-Point-Capital-and-Patient-Square-Capital.html

Under the terms of the merger agreement, an entity jointly owned by Gurnet Point and Patient Square will initiate a tender offer to acquire all of the outstanding shares of Radius for $10.00 per share in cash plus a CVR of $1.00 per share payable upon TYMLOS (abaloparatide) net sales reaching $300 million (inclusive of U.S. sales and Japan royalties or supply payments based on supply of TYMLOS for sale in Japan) during any consecutive 12-month period prior to December 31, 2025.

The nominal deal value is $890M.

RDUS failed a phase-3 trial for its lead drug in Dec 2021(#msg-167045217).