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Rockwell Medical Announces Inducement Grants Under Nasdaq Listing Rule 5635(C)(4)
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WIXOM, Mich.--(BUSINESS WIRE)--
Rockwell Medical, Inc. (Nasdaq: RMTI) (“Rockwell Medical” or the “Company”), a commercial healthcare company focused on providing life-sustaining products for patients suffering from blood disorders and diseases associated with the kidney, today announced that the Compensation Committee of the Company’s Board of Directors approved the grant of stock options to purchase an aggregate of 66,000 shares of the Company’s common stock to three new employees (the “Inducement Grants”) on September 9, 2022 (the “Grant Date”). The Inducement Grants have been granted outside of the Company’s 2018 Long Term Incentive Plan (“Plan”) but remain subject to the terms and conditions of such Plan. The Inducement Grants were granted as an inducement material to these individuals entering into employment with Rockwell Medical in accordance with Nasdaq Listing Rule 5635(c)(4).
The Inducement Grants have an exercise price per share that is equal to the closing price of the Company’s common stock on the Grant Date. The Inducement Grants will vest in equal annual installments on each of the first four anniversaries of the Grant Date, subject to continued employment through the applicable vesting dates.
About Rockwell Medical
Rockwell Medical is a commercial healthcare company focused on providing life-sustaining products for patients suffering from blood disorders and diseases associated with the kidney. Rockwell is the second largest supplier of acid and bicarbonate concentrates for dialysis patients in the United States. The Company is developing and commercializing a next-generation, proprietary parenteral iron technology platform, Ferric Pyrophosphate Citrate (“FPC”), which has the potential to transform treatment options for iron deficiency in multiple disease states, reduce healthcare costs and improve patients' lives. Rockwell has two FDA-approved therapies indicated for patients undergoing hemodialysis, which are the first two products developed from the FPC platform. Rockwell is also advancing its FPC platform by developing FPC for the treatment of iron deficiency anemia in patients outside of dialysis, who are receiving medications in the home infusion setting. For more information, visit www.RockwellMed.com.
rockwell medical is a fully-integrated biopharmaceutical company targeting end-stage renal disease (esrd) and chronic kidney disease (ckd) with innovative products and services for the treatment of iron replacement, secondary hyperparathyroidism and hemodialysis. rockwell’s new innovative therapy triferic is the only fda approved drug indicated to replace iron and maintain hemoglobin in hemodialysis patients suffering from anemia. via dialysate during each dialysis treatment, triferic replaces the 5-7 mg iron loss that occurs in all patients, maintaining their iron balance. unlike iv iron products, triferic binds iron immediately and completely to transferrin (carrier of iron in the body) upon entering the blood and is then transported directly to the bone marrow to be incorporated into hemoglobin, with no increase in ferritin (stored iron and inflammation) and no anaphylaxis, addressing a significant unmet need in overcoming functional iron deficiency (fid) in esrd patients. visit www
