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) reported strong financial results for Q2 2024, achieving profitability on a cash flow and Adjusted EBITDA basis. Net sales increased 43% to $25.8 million, while gross profit surged 341% to $4.6 million. The company improved its gross margin to 18% from 6% in the same period last year. Notably, Rockwell generated $1.4 million in cash flow from operations.
The company raised its 2024 guidance, now expecting net sales between $95 million and $98 million. Rockwell projects mid-to-high single-digit growth in 2025 and beyond, with gross margins expected to reach above 25% by 2026. The positive results were driven by organic growth in hemodialysis concentrates products, streamlined production, and new customer contracts.
Rockwell Medical (Nasdaq: RMTI) has launched a Convenience Pack for its hemodialysis concentrate products CitraPure®, RenalPure®, and SteriLyte®. The pack includes two 1-gallon pre-mixed containers, offering easier handling and streamlined workflow for home hemodialysis patients, caregivers, and acute dialysis facilities.
This new packaging option aims to support the growing trend of at-home dialysis treatments, which can reduce costs and improve patient experience. Rockwell Medical provides FDA-regulated products, reliable delivery services, and adheres to ISO 13485 certification, cGMP, and AAMI standards. The company manufactures a full suite of hemodialysis products, including concentrates, powders, liquids, and accessories.
Rockwell Medical (Nasdaq: RMTI), a global healthcare company specializing in hemodialysis products, has announced its participation in the H.C. Wainwright 3rd Annual Kidney Virtual Conference. The company's President and CEO, Dr. Mark Strobeck, will be presenting at this virtual event.
Investors and interested parties can access the webcast of Rockwell Medical's presentation through the company's 'Investors' page at IR.RockwellMed.com. The webcast will remain available for 30 days following the conference. For more information about the conference, visit hcwevents.com/kidneyconference.
This presentation provides an opportunity for Rockwell Medical to showcase its portfolio of hemodialysis products and discuss its strategies in the kidney care market.
Rockwell Medical (Nasdaq: RMTI) announced it will release its financial and operational results for the second quarter of 2024 on August 8, 2024. The announcement will be made at 6:00am ET, followed by a live conference call and webcast at 8:00am ET. Rockwell Medical, a healthcare company specializing in hemodialysis products, will discuss the financial and operational results for the quarter ending June 30, 2024, and hold a Q&A session. The conference can be accessed via phone at (888) 660-6347 (domestic) or (929) 201-6594 (international) using Conference Call ID: 4944610, or via webcast at www.RockwellMed.com/Results.
Rockwell Medical (Nasdaq: RMTI) has promoted Tim Chole to the position of Chief Commercial Officer. Chole has been with the company since December 2019, initially serving as SVP of Sales and Marketing. In his new role, he will report to President and CEO Dr. Mark Strobeck. This promotion follows Rockwell's strategic shift in November 2022, aimed at enhancing revenue-generating businesses and driving profitability. Chole has over 20 years of experience in commercial roles within the pharmaceutical and medical device sectors, with a strong focus on renal care. Under his leadership, Rockwell has increased market share, improved gross margins, and achieved record net sales.
Rockwell Medical (Nasdaq: RMTI) reported record net sales of $22.7 million for Q1 2024, a 15% year-over-year increase. Gross profit rose 18% to $3.1 million, and gross margin improved to 14%. The net loss narrowed to $1.7 million, with adjusted EBITDA at ($0.5) million. The company raised its 2024 guidance, expecting net sales of $90-$94 million and gross profit of $13-$15 million. Rockwell Medical signed new distribution agreements and extended a loan maturity date, reducing interest rates. Cash reserves stood at $10.2 million at the end of Q1 2024.
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