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 appointed Andrea Heslin Smiley, an experienced life sciences executive, to its Board of Directors as of December 11, 2020. With nearly 30 years in the biopharmaceutical field, Ms. Smiley brings a strong background in patient adherence and product commercialization. Her expertise is expected to enhance the value of Rockwell's Triferic® therapies and support its expansion into the home infusion market. This leadership change aims to bolster the company’s strategic direction and reinforces its commitment to advancing iron deficiency treatments.
Rockwell Medical reported Q3 2020 financial results, achieving revenue of $15.3 million, a slight decline of 0.8% from the previous year. The company ended the quarter with $67.3 million in cash and equivalents, bolstered by a $35 million registered direct offering. Rockwell plans to launch Triferic® AVNU in Q1 2021 and enroll the first patient for its Phase 3 trial in China. Additionally, they aim to expand the FPC platform for new indications. The net loss for the quarter was $7.4 million, marking an improvement over last year's loss.
Rockwell Medical, a biopharmaceutical company, will host a conference call on November 9, 2020, at 4:30 p.m. ET, to discuss its financial results for Q3 2020 and recent operational developments. Interested participants can join by dialing (877) 383-7438 for local access or (678) 894-3975 for international access, with a conference ID of 7679074. The call will also be available via live webcast. Rockwell Medical specializes in iron deficiency treatments for patients with end-stage kidney disease through its FDA-approved products, Triferic Dialysate and Triferic AVNU.
Rockwell Medical (Nasdaq: RMTI) announced that two abstracts have been accepted for poster presentations at the ASN Virtual Kidney Week 2020 from October 20 to 25. The abstracts focus on the use of Triferic in hemodialysis patients, highlighting its role in maintaining hemoglobin levels and reducing the need for IV iron. Triferic is FDA-approved and aims to transform iron deficiency treatment in end-stage kidney disease patients.
Rockwell Medical (RMTI) announced new indications for its ferric pyrophosphate citrate (FPC) platform during a recent conference call. The company is pursuing development for treating iron deficiency anemia (IDA) in home infusion patients and assessing FPC's potential for acute heart failure. A Type C meeting with the FDA is anticipated in Q1 2021 for home infusion and in H2 2021 for acute heart failure. Rockwell Medical remains well-capitalized to fund both its dialysis business and clinical advancements, with market opportunities for IDA treatment estimated at $600 million annually.
Rockwell Medical (RMTI) announced a registered direct offering of 23,178,809 common stock shares and accompanying short-term warrants, priced at $1.51 per share. This transaction is expected to yield approximately $35 million in gross proceeds. The funds will be directed towards advancing the development of ferric pyrophosphate citrate for anemia treatment, particularly in home infusion, alongside general corporate purposes. The offering is projected to close around September 25, 2020, subject to customary conditions.
Rockwell Medical (RMTI) announced the appointment of Russell L. Skibsted as Executive Vice President, Chief Financial Officer, and Chief Business Officer effective September 15, 2020. Skibsted's extensive experience in the life sciences sector, including previous roles at AgeX and BioTime, aligns with the company's focus on enhancing its commercial strategy for Triferic and Triferic AVNU in kidney dialysis. He aims to drive business development and financial operations, ultimately increasing shareholder value.
Rockwell Medical (Nasdaq: RMTI) has announced an exclusive license agreement with Jeil Pharmaceutical Co., Ltd. for the commercialization of Triferic in South Korea. Under this agreement, Jeil will develop and market Triferic, with Rockwell supplying the product. The deal includes an upfront fee, milestone payments, and royalties on sales. Triferic aims to address iron deficiency in over 78,000 hemodialysis patients in South Korea. Sales are expected to commence in early 2022, pending regulatory approval.
Rockwell Medical (Nasdaq: RMTI) will host a conference call and webcast on September 24, 2020, at 4:30 p.m. ET, to discuss novel applications of ferric pyrophosphate citrate (FPC) for treating iron deficiency in home infusion therapy and acute heart failure patients. Key opinion leaders will join the call alongside company representatives. The goal is to explore new indications for FPC technology beyond hemodialysis. Access details are provided for interested stakeholders.
Rockwell Medical announced that its executive management team will present at two important investor conferences in September 2020. The first is the H.C. Wainwright 22nd Annual Global Investment Conference on September 14 at 4:00 PM EDT, followed by the Cantor Fitzgerald Virtual Global Healthcare Conference on September 15 at 10:40 AM EDT. Both presentations will be available via live webcast on the company's website for 30 days.
Rockwell Medical focuses on transforming anemia management, particularly for end-stage kidney disease patients, with FDA-approved therapies like Triferic Dialysate and Triferic AVNU.
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