Welcome to our dedicated page for Rockwell Medical (DE) news (Ticker: RMTI), a resource for investors and traders seeking the latest updates and insights on Rockwell Medical (DE) stock.
Rockwell Medical, Inc. (DE), trading under the symbol RMTI, is a leading biopharmaceutical company dedicated to addressing the needs of patients with end-stage renal disease (ESRD) and chronic kidney disease (CKD). The company has positioned itself at the forefront of renal care through its innovative products and services focusing on iron replacement, secondary hyperparathyroidism, and hemodialysis.
One of Rockwell Medical's groundbreaking therapies is Triferic, the first and only FDA-approved drug designed to replace iron and maintain hemoglobin levels in hemodialysis patients with anemia. Triferic works during each dialysis session by replacing the 5-7 mg iron loss that is typical in all patients, thereby maintaining their iron balance. Differing from traditional intravenous (IV) iron products, Triferic binds immediately to transferrin (the body's iron carrier) and is swiftly transported to the bone marrow for incorporation into hemoglobin. This unique mechanism ensures no increase in ferritin (stored iron and inflammation) and eliminates the risks of anaphylaxis, addressing a critical unmet need for functional iron deficiency (FID) in ESRD patients.
Rockwell Medical is also a prominent supplier of dialysis concentrates in the United States. Their diverse product portfolio includes notable brands such as CitraPure citric acid concentrate, RenalPure liquid acid concentrate, and SteriLyte bicarbonate concentrate. These products are essential for dialysis providers, helping to ensure that patients receive the necessary treatments for effective dialysis.
The company's commitment to innovation and quality is reflected in its ongoing projects and recent achievements. Rockwell Medical continues to focus on expanding its product line and enhancing its manufacturing processes to meet the evolving needs of the renal care market. Financially, the company maintains a robust position with strategic partnerships and collaborations that further bolster its market presence and capabilities.
For those interested in the latest updates and developments regarding Rockwell Medical, Inc., the company's news section provides current information on performance, events, and significant milestones.
Rockwell Medical (RMTI) has signed a significant product purchase agreement with the world's leading dialysis products and services provider. The agreement covers the supply of SteriLyte®, Rockwell's liquid bicarbonate hemodialysis concentrates product. The partnership is expected to generate over $10 million in net sales for Rockwell in 2025, with incremental price increases in subsequent years.
The agreement has an initial term of three years with the option to extend for two additional one-year periods. Rockwell Medical, as the leading supplier of liquid bicarbonate in the United States, is currently the only manufacturer capable of producing liquid bicarbonate at a scale supporting major U.S.-based dialysis providers.
Rockwell Medical (Nasdaq: RMTI) has promoted Jesse Neri to Chief Financial Officer. Neri, who joined the company in October 2023 as SVP of Finance, brings nearly 25 years of financial leadership experience in both public and private companies. Prior to Rockwell, he served as Executive Director of Finance at Hemavant Sciences and Aruvant Sciences, and as Senior Vice President of Finance at Zyla Life Sciences, where he managed a $80 million revenue operation and led various strategic initiatives including product acquisitions and commercial launches.
Rockwell Medical (RMTI) has announced a partnership with HydroCare, a provider of dialysis water treatment systems, to distribute and install Rockwell's dry acid concentrate mix system in dialysis water rooms. The partnership involves HydroCare purchasing and installing Rockwell's DAMX45 system, which is 510(k) approved for exclusive use with the company's CitraPure® and Dri-Sate® dry acid concentrate powders.
The DAMX45 system features a forced RO water pump that can mix 100 gallons of acid concentrate on-site in three minutes. This collaboration is expected to generate new sales for Rockwell's dry acid hemodialysis concentrates through expanded mixer installations.
Rockwell Medical (Nasdaq: RMTI) has entered into an exclusive distribution agreement with Nephro Group Dialysis Centers, the largest dialysis provider in the Philippines. Under the agreement, Rockwell Medical will be the exclusive supplier of dry hemodialysis concentrates products, including CitraPure® Acid and RenalPure® Bicarbonate. Nephro Group, founded in 1995, has grown to become the Philippines' largest dialysis provider. This expansion adds to Rockwell Medical's international presence, which now spans over 30 countries across North America, South America, Asia, and Africa.
Rockwell Medical (RMTI) reported strong Q3 2024 financial results with net product sales of $28.3 million, up 31% year-over-year. The company achieved gross profit of $6.2 million (183% increase) and a gross margin of 22%. Notable highlights include $4.3 million in cash flow from operations and net income of $1.7 million. The company increased its 2024 guidance, projecting net sales of $98-101 million and Adjusted EBITDA of $4-5 million. However, their largest customer indicated expected volume declines in 2025, potentially reducing sales by $31-38 million.
Rockwell Medical (Nasdaq: RMTI) has rescheduled its third quarter 2024 earnings release and conference call to Tuesday, November 12, 2024, due to SEC EDGAR system closure on November 11 for Veterans Day. The company will issue its financial and operational results press release at 6:00am ET, followed by a live conference call and webcast at 8:00am ET. The call will discuss Q3 2024 results and include a Q&A session.
Rockwell Medical, Inc. (Nasdaq: RMTI), a healthcare company specializing in hemodialysis products, has announced the release of its third quarter 2024 financial and operational results on Monday, November 11, 2024. The company will issue a press release at 6:00am ET, followed by a live conference call and webcast at 8:00am ET.
The conference call details are as follows:
- Date: Monday, November 11, 2024
- Time: 8:00am ET
- Live Number: (888) 660-6347 (US) / 1 (929) 201-6594 (International)
- Conference Call ID: 4944610
- Webcast and Replay: www.RockwellMed.com/Results
Rockwell Medical, Inc. (Nasdaq: RMTI), a healthcare company specializing in hemodialysis products, has been recognized as one of the 2024 Fortune Best Workplaces in Manufacturing and Production in the small & medium category. This prestigious acknowledgment comes from Great Place to Work® and Fortune magazine.
Lesley Spriggs, Vice President of Human Resources at Rockwell Medical, expressed pride in the company's achievement, highlighting the dedication of their leadership and employees. The company's focus on manufacturing and delivering life-sustaining dialysis solutions for patients with end-stage kidney disease has been a key factor in this recognition.
Rockwell Medical (Nasdaq: RMTI) has announced a product purchase agreement with the leading at-home and acute care dialysis provider in the United States. The company will supply its RenalPure® liquid acid and SteriLyte® liquid bicarbonate hemodialysis concentrates to the customer. These products will be packaged in either four-per-case for larger dialysis settings or two-per-case for smaller acute care and at-home care settings.
Rockwell Medical's convenience pack, which includes two 1-gallon pre-mixed containers of either RenalPure or SteriLyte, offers advantages such as easier handling and streamlined workflow for home patients, caregivers, healthcare providers, and acute facilities. This agreement supports the customer's patient-centric care model and addresses the growing demand for technological advancements in the dialysis space, particularly in the underserved at-home hemodialysis segment.
Rockwell Medical (Nasdaq: RMTI) has entered into a multi-million dollar distribution agreement with Nipro Medical The agreement allows Nipro to distribute Rockwell's hemodialysis concentrates and mixer globally, excluding the United States. Key points:
- Two-year agreement with a one-year extension option
- Minimum product purchases of $5.0 million for the first year with incremental increases thereafter
- Covers liquid and dry acid concentrates, bicarbonate concentrates, and dry acid concentrates mixer
- Aims to meet increasing market demand for Rockwell's hemodialysis products
- Expands accessibility to Rockwell's products for dialysis patients worldwide
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