Wow I am really quite saddened by this news. It seems a few people are mostly just mentioning the prototype series however Radical while not a big name was actually a very high quality studio that made some great games.
Some of the games they made: Prototype, Scarface, Hulk + Incredible Hulk:UD, Simpsons hit and run, Jackie chan stuntmaster. Loads more as well. They were actually one of the few studios who seemed to be able to get good licensed games out. I had always hoped they would be given the chance at a Spider-man game.
I think the big problem was that with Prototype 2 it just didn't seem to fit somehow... the marketing just wasn't there for it. I loved the first game yet barely knew of the second's existence. And what I did know made it seem more like a spin-off than a sequel. Changing main character etc.