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 presented findings at ASN Kidney Week 2021, highlighting positive results from a pilot observational analysis on Triferic (Ferric Pyrophosphate Citrate) for hemodialysis patients. The study showed a 23% reduction in IV iron usage during the first three months, increasing to 81% reduction with a new iron management protocol. Hemoglobin levels remained stable throughout. These results align with prior pivotal trials and suggest potential cost savings in anemia management for dialysis clinics.
Rockwell Medical (Nasdaq: RMTI) announced participation in the H.C. Wainwright 23rd Annual Global Investment Conference, scheduled for September 13-15, 2021. The company's executive management team will present virtually, and the presentation will be available on-demand starting September 13 at 7:00 a.m. ET on their website. Additionally, management will engage in one-on-one meetings with registered investors. Rockwell Medical is focused on innovative treatments for iron deficiency and has two FDA-approved therapies for hemodialysis patients.
Rockwell Medical, Inc. (Nasdaq: RMTI) announced the approval of an option to purchase 350,000 shares of its common stock to Megan C. Timmins, Senior VP and General Counsel. This Inducement Grant, effective August 16, 2021, has an exercise price of $0.61 and will vest over four years in two equal installments. The grant aligns with Nasdaq Listing Rule 5635(c)(4) and is outside the 2018 Long Term Incentive Plan. Rockwell Medical focuses on iron deficiency treatments and is a supplier of hemodialysis concentrate products in the U.S.
Rockwell Medical has announced a licensing agreement with Drogsan Pharmaceuticals to commercialize Triferic in Turkey and extended its distribution contract with Nipro Medical for dialysis concentrates in LATAM and the Caribbean. In Q2 2021, Rockwell reported net sales of $15.1 million, down from $15.9 million in Q2 2020, largely due to pandemic-related impacts. The company identified a gross loss of $0.3 million, with increased operating expenses resulting in a net loss of $8.4 million for the quarter. Cash reserves stand at approximately $41 million, supporting strategic initiatives.
Rockwell Medical (Nasdaq: RMTI) announced a conference call on August 16, 2021, at 4:30 p.m. ET to discuss its financial results for Q2 2021 and operational updates. Investors can join the call by dialing (877) 377-7548 locally or (760) 666-3756 internationally, referencing conference ID 1254179. A live webcast will also be available on the company's investor website with an archived version accessible for 30 days. Rockwell Medical is focused on transforming iron deficiency treatment with its proprietary Ferric Pyrophosphate Citrate technology.
Rockwell Medical (RMTI) has submitted a pre-IND meeting request to the FDA for its Phase 2 clinical trial of Ferric Pyrophosphate Citrate (FPC), aimed at treating iron deficiency anemia in home infusion therapy patients. This segment is rapidly growing, with an estimated 40%-55% of home parenteral nutrition patients being iron deficient. The CEO emphasizes that FPC addresses a significant unmet clinical need. The company is focused on innovating treatments for iron deficiency while managing existing FDA-approved therapies for hemodialysis patients.
Rockwell Medical, Inc. (RMTI) has extended its distribution agreement with Nipro Medical Corporation through May 2024, committing approximately $11.4 million in purchases over three years. This partnership, established in 2008, allows Nipro to distribute Rockwell's dialysis concentrates in Latin America and the Caribbean. Rockwell Medical, a leading supplier of hemodialysis concentrates in the U.S. with an annual revenue of $60 million, anticipates growth in the renal market as more patients undergo hemodialysis.
Rockwell Medical (Nasdaq: RMTI) has entered an exclusive license agreement with Drogsan Pharmaceuticals to commercialize Triferic AVNU in Turkey, a market with approximately 65,000 annual hemodialysis patients. Drogsan will handle development and commercialization, while Rockwell will supply Triferic. The deal includes an upfront fee and potential milestone payments upon reimbursement price approval. This partnership aims to address the growing demand for effective treatments for iron deficiency in Turkey, with the possibility of expanding into nearby regions.
Rockwell Medical, a biopharmaceutical company focused on iron deficiency treatments, will present at the 2021 LD Micro Invitational XI on June 10 at 2:30 PM EDT. The virtual conference will be accessible via a live webcast on their website. Rockwell Medical is known for its innovative Ferric Pyrophosphate Citrate technology and has two FDA-approved therapies for hemodialysis patients. The company aims to expand its FPC platform for treating iron deficiency anemia in various settings.
Rockwell Medical (Nasdaq: RMTI) reported a 2021 Q1 revenue of $15.5 million, down from $15.9 million YoY. The net loss was $7.8 million, slightly improved from $8.0 million in Q1 2020. Key developments include FDA acceptance for its Home Infusion FPC program, aiming for Phase 2 trial initiation in late 2021, and marketing approval for Triferic AVNU™ in Canada. The company ended Q1 with $46.1 million in cash and expects Triferic AVNU to launch commercially in Canada in 2022.
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