Rockwell Medical Regains Compliance with Nasdaq Listing Requirements

Rhea-AI Summary

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.

Positive

• Regained compliance with NASDAQ Listing Rule 5550(a)(2).
• Achieved a closing bid price above $1.00 for 11 consecutive trading days.

Negative

• None.

WIXOM, Mich. , June 1, 2022 /PRNewswire/ -- Rockwell Medical, Inc. (Nasdaq: RMTI), a biopharmaceutical company dedicated to transforming the treatment of iron deficiency and anemia management, today announced that it received notice from The NASDAQ Stock Market LLC (NASDAQ) on May 31, 2022 informing Rockwell Medical that it has regained compliance with the minimum bid price requirement under NASDAQ Listing Rule 5550(a)(2) for continued listing on The NASDAQ Capital Market. Consequently, Rockwell is now in compliance with all applicable listing standards and its common stock will continue to be listed on The NASDAQ Capital Market.

Rockwell Medical was previously notified by NASDAQ on June 11, 2021 that it was not in compliance with the minimum bid price rule because its common stock failed to meet the closing bid price of $1.00 or more for 30 consecutive business days. To regain compliance with the minimum bid price rule, the Company was required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive trading days. This requirement was met on May 27, 2022, the eleventh consecutive trading day when the closing bid price of the Company's common stock was over $1.00.

About Rockwell Medical

Rockwell Medical is a commercial-stage biopharmaceutical company developing and commercializing its next-generation parenteral iron technology platform, Ferric Pyrophosphate Citrate (FPC), which has the potential to lead transformative treatments for iron deficiency in multiple disease states, reduce healthcare costs and improve patients' lives. The Company has two FDA-approved therapies indicated for patients undergoing hemodialysis, which are the first two products developed from the FPC platform. Rockwell Medical is also advancing its FPC platform by developing FPC for the treatment of iron deficiency anemia in patients outside of dialysis, who are receiving intravenous medications in the home infusion setting. In addition, Rockwell Medical is one of two major suppliers of life-saving hemodialysis concentrate products to kidney dialysis clinics in the United States. For more information, visit www.RockwellMed.com.

Forward-Looking Statements

Certain statements in this press release may constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as, "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "could," "can," "would," "develop," "plan," "potential," "predict," "forecast," "project," "intend," "look forward to," "remain confident" or the negative of these terms, and similar expressions, or statements regarding intent, belief, or current expectations, are forward looking statements. While Rockwell Medical believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties (including, without limitation, those set forth in Rockwell Medical's SEC filings), many of which are beyond our control and subject to change. Actual results could be materially different. Risks and uncertainties include, but are not limited to those risks more fully discussed in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2021, as such description may be amended or updated in any future reports we file with the SEC. Rockwell Medical expressly disclaims any obligation to update our forward-looking statements, except as may be required by law.

View original content to download multimedia:https://www.prnewswire.com/news-releases/rockwell-medical-regains-compliance-with-nasdaq-listing-requirements-301558542.html

SOURCE Rockwell Medical Technologies, Inc.

FAQ

When did Rockwell Medical regain compliance with NASDAQ requirements?

Rockwell Medical regained compliance on May 31, 2022.

What is the significance of RMTI regaining NASDAQ compliance?

Regaining compliance allows RMTI to continue being listed on the NASDAQ Capital Market.

What led to Rockwell Medical's non-compliance before?

The company was notified of non-compliance on June 11, 2021, due to failing to maintain a closing bid price of $1.00 or more.

How did Rockwell Medical regain compliance with NASDAQ?

The company maintained a closing bid price of over $1.00 for 11 consecutive trading days, starting from May 27, 2022.