Rockwell Medical, Inc. (RMTI) is a leading commercia-stage biopharmaceutical company. The company develops and commercializes next generation Ferric Pyrophosphate Citrate which is mainly used for the treatment of the diseases with iron deficiency at the pre-natal stage. The company also focuses on end-stage and chronic renal dysfunctions. The company is also engaged in the development of therapeutic products for patients with acute heart failure.
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The price of RMTI stock during the regular trading session of December 17, 2021, after losing the momentum was last checked to be $0.39 with a decline of 2.03%.
Events and Happenings
On December 14, 2021, RMTI reported about FDA’s feedback responding to its Investigational New Drug (IND) application for the Phase 2 clinical trial of FPC, designed for the maintenance of hemoglobin in patients receiving infusion therapy. FDA had requested the company for the additional support data in this regard.
On November 16, 2021, RMTI reported the publication of outcomes of the study used to examine the co-administration of intravenous FPC, Triferic® along with unfractionated heparin (UFH). The study was published in the Journal of Bioequivalence & Bioavailability. The outcomes exhibited no relevant drug-drug interface between FPC and UFH.
Key Financials
On November 15, 2021, RMTI reported its financial results for the three months ended September 30, 2021. Some of the key highlights are
Net Loss per Share
Net loss for the third quarter of 2021 was $7.5 million, or $0.08 per basic and diluted share, as opposed a net loss of $7.4 million or $0.10 per basic and diluted share for the same quarter of 2020.
Total Current Assets
The total current assets of the company for the period of Q3 2021 were $46 million as opposed to $77.9 million.
On November 12, 2021, RMTI reported that the management of the company permitted option grants to its employees to purchase a sum of 75,000 shares of the Company’s common stock. On November 04, 2021, RMTI shared new Real-World Evidence from a Mid-Sized Dialysis Organization (MDO) preliminary observational analysis platform at the 2021 Kidney Week for American Society of Nephrology (ASN). The outcomes showed that FPC was well-tolerated to maintain hemoglobin in adult patients with hemodialysis-dependent chronic kidney disease (HDD-CKD).
Conclusion
RMTI had downfallen 29% from the last month and this trend is still continuing despite any certain reason. Although the company has many projects in the pipeline, it needs to gain the investors’ confidence in it.
