Rockwell Medical Inc (NASDAQ:RMTI) announced that the Triferic Phase-1 Healthy Volunteer Intravenous (IV) Pharmacokinetic Study has been published in the Journal of Clinical Pharmacology. Triferic is the Company’s new and innovative FDA approved anemia therapy indicated to replace iron-and maintain hemoglobin in chronic kidney disease patients receiving hemodialysis.
The published study examined the pharmacokinetics of Triferic administered to 49 healthy volunteers. The dose range spanned 2.5 to 10 mg of iron IV over 4 hours, and 15 and 20 mg of iron IV over 12 hours. Serum total iron, transferrin bound iron (TBI), hepcidin-25 and markers of oxidative stress and inflammation were obtained. The results demonstrate that Triferic iron is rapidly bound to transferrin and rapidly cleared from the circulation, with a half-life of between 1.2 and 2 hours. Triferic was completely bound to transferrin as there was no non-transferrin-bound iron found. Triferic did not induce oxidative stress at any dose. Triferic administered IV was well tolerated with a safety profile similar to placebo.
Rob Chioini, Founder, Chairman and CEO of Rockwell Medical, stated “This study publication contributes to our ongoing work to expand the use of Triferic to new indications, such as Peritoneal Dialysis (PD) and Total Parenteral Nutrition (TPN). The results also highlight that Triferic, upon administration, immediately donates iron to transferrin and is transported to the bone marrow for incorporation into hemoglobin, avoiding entrapment in the liver, iron overload and cardiovascular toxicity. This is one of the key advantages that Triferic has over the traditional IV iron products that have been used in dialysis patients.” (Original Source)
Shares of Rockwell Medical closed yesterday at $6.74, up $0.04 or 0.60%. RMTI has a 1-year high of $13.50 and a 1-year low of $5.47. The stock’s 50-day moving average is $6.99 and its 200-day moving average is $7.83.
On the ratings front, RMTI stock has been the subject of a number of recent research reports. In a report issued on August 19, BTIG analyst Ling Wang initiated coverage with a Buy rating on RMTI and a price target of $12.00, which represents a potential upside of 78% from where the stock is currently trading. Separately, on August 9, Brean Murray Carret’s Jonathan Aschoff reiterated a Sell rating on the stock and has a price target of $3.00.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ling Wang and Jonathan Aschoff have a total average return of -19.6% and -7.4% respectively. Wang has a success rate of 25% and is ranked #4078 out of 4197 analysts, while Aschoff has a success rate of 40% and is ranked #4047.
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.