The third tranche included $21.4m in equity financing from Radius’ current investors, bringing gross proceeds received to date from the $91m financing to $78.7m.
The company intends to use the finances primarily to advance the ongoing Phase 3 clinical study of BA058 Injection, the company’s novel anabolic (bone-building) drug for the treatment of osteoporosis.
Data from the Phase 3 study is likely to form the primary basis for an efficacy claim to support applications for marketing authorization of BA058 Injection in the US and Europe.