Rockwell Medical Inc (NASDAQ:RMTI), 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, today provided an update on preparations for the commercial launch of Calcitriol, its FDA approved active vitamin D injection for the management of hypocalcemia in patients undergoing chronic renal dialysis.
The Company’s contract manufacturer found that one of the excipients used in the completed finished product for commercial sale was out of specification for stability. The stability issue is not related to the active pharmaceutical ingredient (API) in Calcitriol, which is supplied by a different manufacturer. Rockwell is working closely with its contract manufacturer to resolve this issue in a timely manner. This manufacturing issue will require the Company to adjust its near-term expectations for commercial launch of Calcitriol in the U.S. to the third quarter of 2016.(Original Source)
Shares of Rockwell Medical closed yesterday at $8.95, down $0.27 or -2.93%. RMTI has a 1-year high of $18.90 and a 1-year low of $5.47. The stock’s 50-day moving average is $7.75 and its 200-day moving average is $8.78.
On the ratings front, RMTI has been the subject of a number of recent research reports. In a report issued on April 6, Morgan Stanley analyst Andrew Berens reiterated a Sell rating on RMTI, with a price target of $3, which represents a potential downside of 66.5% from where the stock is currently trading. Separately, on March 1, Stifel Nicolaus’ Annabel Samimy downgraded the stock to Hold .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Andrew Berens and Annabel Samimy have a total average return of 13.4% and 12.5% respectively. Berens has a success rate of 67.7% and is ranked #460 out of 3838 analysts, while Samimy has a success rate of 57.8% and is ranked #307.
Rockwell Medical, Inc. is a biopharmaceutical company, which engages in the targeting of end-stage renal disease and chronic kidney disease and manufactures innovative products and services for the treatment of iron deficiency, secondary hyperparathyroidism and hemodialysis. Its dialysis products include Triferic, Calcitriol Vitamin D Injection, Hemodialysis Concentrates, CitraPure, Dri-Sate, and ancillary products. The company was founded by Robert L. Chioini in January 1995 and is headquartered in Wixom, MI.