Rubric Capital Management Sends Letter to Radius Health Board of Directors

Rubric Capital Management LP (“Rubric”), an investment advisor whose funds and accounts collectively own approximately 14.62% of the common stock of Radius Health, Inc. (“Radius” or the “Company”) (NASDAQ: RDUS), today sent a letter to Radius’ Board of Directors (the “Board”).

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2021 Forecast: Reaffirming Adjusted EBITDA Guidance (Graphic: Radius Health)

In its letter, Rubric outlines the following value enhancing initiatives to address the Company’s underperformance and poor corporate governance:

1. Maximize the value of Tymlos
2. Maximize the value of the elacestrant royalty
3. Generate cash flows to maximize the value of the Company’s tax attributes
4. Put in place and empower the best possible team

Due to a lack of confidence in the Company’s current Board and management team to execute on these initiatives, Rubric intends to vote for the three director candidates nominated by Velan Capital Investment Management LP and Repertoire Partners LP – Eric Ende, Cynthia Flowers and Ann MacDougall – at Radius’ upcoming Annual Meeting of Stockholders to be held on July 8, 2022.

The full text of the letter follows:

June 16, 2022

The Board of Directors
Radius Health, Inc.
22 Boston Wharf Road
7^th Floor
Boston, Massachusetts 02210
Attention: Owen Hughes, Chairman

Dear Members of the Board of Directors (the “Board”):

I am writing you on behalf of Rubric Capital Management LP (together, “Rubric”, “we”, or “our”), whose managed funds and accounts collectively own approximately 14.62% of the common stock of Radius Health, Inc. (the “Company” or “Radius”). In light of the back-and-forth commentary of the ongoing proxy contest between the Company and the Velan-Repertoire group, we felt compelled to write this letter in response to the Company’s assertion that the activists are engaging in this process “presumably for the short-term benefit of two stockholders whose combined beneficial ownership is approximately 5% of our Company.”¹ After this letter it should be clear to the Board that other shareholders with significant holdings have serious concerns about the corporate governance at Radius.