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 (NASDAQ: RMTI) is reacquiring distribution rights for its hemodialysis concentrates from Baxter, effective November 9, 2022. This strategic move allows Rockwell to sell products directly to over 700 dialysis customers, enhancing profitability and operational independence. The U.S. market for these products is projected to grow from $380 million to $500 million by 2026. Rockwell aims for $100 million in annual revenue in the coming years and expects profitability by 2024, reducing reliance on external funding.
Rockwell Medical, Inc. (NASDAQ:RMTI) will release its financial results for Q3 2022 on November 14, 2022, at 6:00am ET. A live conference call will follow at 8:00am ET, led by CEO Mark Strobeck and CFO Russell Skibsted, discussing the financial and operational results. Investors can join the call by dialing (888) 660-6347 or via international number (929) 201-6594. The results will be available on the company’s website, RockwellMed.com, with a replay accessible until December 14, 2022.
Rockwell Medical (RMTI) announced on September 9, 2022, the grant of stock options for 66,000 shares to three new employees as part of Inducement Grants. These grants, made outside of the company's 2018 Long Term Incentive Plan, are designed to incentivize the new hires. The exercise price will match the closing stock price on the grant date, with vesting occurring annually over four years, contingent upon continued employment. Rockwell Medical is a key player in healthcare, focusing on products for blood disorders and renal diseases, including FDA-approved therapies and proprietary iron technology.
Rockwell Medical, Inc. (NASDAQ: RMTI) has appointed Heather Hunter as Senior Vice President and Chief Corporate Affairs Officer. Heather brings over 20 years of experience in executive leadership and investor relations, aiming to enhance the company's communications and branding strategies. CEO Mark Strobeck expressed confidence in Heather's capability to drive shareholder value and facilitate profitability as the company expands its product offerings in the healthcare market. Rockwell Medical focuses on products for patients with blood disorders and kidney diseases, including the development of its proprietary Ferric Pyrophosphate Citrate technology.
Rockwell Medical, Inc. (Nasdaq: RMTI) reported strong financial results for Q2 2022, with revenues of $18.7 million, a 16% increase from Q1 2022. Gross profit improved to $1.7 million, up from a loss in the previous quarter. The company raised $30 million in financing, reducing its debt from $20.6 million to $16.5 million. Cash used in operations decreased by 40% to $5.8 million. Notable operational highlights include the appointment of Dr. Mark Strobeck as CEO and expanded partnerships with DaVita and Jeil Pharmaceutical.
Rockwell Medical, Inc. (Nasdaq: RMTI) plans to release its financial results for Q2 2022 on August 15, 2022, with a press release at 6:00 AM ET followed by a conference call at 8:00 AM ET. The company specializes in providing products for patients with blood disorders and kidney diseases, being the second largest supplier of dialysis concentrates in the U.S. Rockwell is advancing its proprietary iron treatment technology, Ferric Pyrophosphate Citrate, aimed at improving treatment for iron deficiency anemia.
Rockwell Medical (Nasdaq: RMTI) announced the appointment of Mark Strobeck, Ph.D., as President and CEO, effective July 1, 2022. He will also join the Board of Directors. Dr. Russell Ellison is stepping down as President and CEO on June 30, 2022. Strobeck brings over 20 years of experience in life sciences and a successful track record in operational roles. He plans to drive the development of Rockwell's treatments for iron deficiency, particularly in home infusion and acute heart failure settings. An inducement award of stock options was also issued to Dr. Strobeck as part of his employment agreement.
Rockwell Medical (RMTI) has successfully closed a $7.5 million second tranche investment from DaVita (DVA), bringing the total capital raised this quarter to $30 million. This funding will extend Rockwell's cash runway to advance its Ferric Pyrophosphate Citrate (FPC) development programs and improve their dialysis business. They are preparing for a Phase 2 clinical trial of FPC in home infusion patients, pending FDA clearance, which will require a microbial challenge study to ensure patient safety.
Rockwell Medical has successfully completed a $15 million financing deal, comprising $12 million from a Registered Direct Offering and $3 million through a private investment in public equity (PIPE) with Armistice Master Fund Ltd. This funding will support the advancement of their Ferric Pyrophosphate Citrate (FPC) development programs and enhance their dialysis business. The receipt of funds is expected to unlock an additional $7.5 million investment from DaVita, Inc. Rockwell Medical aims to position FPC as a leading treatment for iron deficiency anemia, targeting the growing home infusion market.
Rockwell Medical (RMTI) announced it has regained compliance with NASDAQ Listing Rule 5550(a)(2) regarding the minimum bid price requirement. This follows their previous notification on June 11, 2021, for failing to maintain a closing bid price of $1.00 or more for 30 consecutive days. Rockwell Medical met the compliance requirement on May 27, 2022, achieving an 11-day closing bid price above $1.00. The company is now compliant with all NASDAQ listing standards, ensuring its continued listing on the NASDAQ Capital Market.
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