Why Are Radius Health Shares Soaring Today?

The Menarini Group and Radius Health Inc RDUS have announced topline results from the EMERALD Phase 3 study evaluating elacestrant as second- or third-line monotherapy in ER+/HER2- advanced/metastatic breast cancer patients.
There were two primary endpoints: progression-free survival (PFS) in the overall population and PFS in patients with tumors harboring estrogen receptor 1 (ESR1) mutations.
EMERALD met both primary endpoints, showing statistically significant PFS.
The safety profile of elacestrant exhibited in EMERALD was similar to that of the previous clinical trial.
Menarini and Radius plan on proceeding with regulatory submissions in both the U.S. and European Union in 2022.
Elacestrant is a selective estrogen receptor degrader (SERD). Overall, 466 patients were enrolled in the study, including 220 (47%) with tumors harboring an Estrogen Receptor 1 (ESR1) mutation.
A complete evaluation of the data is ongoing. Current plans are to present those results at the upcoming San Antonio Breast Cancer Symposium in December 2021 and publish them in a peer-reviewed journal.
Price Action: RDUS shares are up 33% at $20.57 during the premarket session on the last check Wednesday.