Rockwell Med Inc Stock Price, News & Analysis

Rockwell Medical (NASDAQ: RMTI) has expanded its business into Minnesota, supplying hemodialysis concentrates to clinics there since December 5, 2022. The company anticipates onboarding all clinics by January 1, 2023, expecting over $1 million in revenue in the first year. As the second-largest U.S. supplier of these products, Rockwell is well-positioned in a market expected to grow from $380 million to $500 million by 2026 due to increasing end-stage kidney disease cases. The company aims for annual revenue of $100 million in the coming years.

Rockwell Medical, Inc. (RMTI) is restructuring to capitalize on the hemodialysis market, aiming for profitability in 2024. The company reduced long-term debt from $15 million to $10 million and achieved a record quarterly revenue of $18.7 million for Q3 2022, marking a 16.9% year-over-year increase. Cash used in operations fell by 81% to $1.1 million. Rockwell is reacquiring distribution rights for its hemodialysis concentrates and expects annual revenue could reach $100 million soon. Despite challenges, the company maintains high demand for its products.

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.