Company Update (NASDAQ:RMTI): Rockwell Medical Inc Reports First Quarter 2015 Results

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, reported results for the first quarter of 2015.

Q1 2015 Financial Highlights

  • Sales were $13.9 million, a 7.1% increase over Q1 2014.
  • Gross profit was $2.3 million, a 37.6% increase over Q1 2014.
  • Gross profit margins increased to 16.7% compared to 13.0% in Q1 2014.
  • R&D expense was $0.8 million, a $3.8 million or 83% decrease compared to Q1 2014.
  • Net loss was $3.7 million or $0.07 per share, compared to a net loss of $7.8 million or $0.20 per share in Q1 2014, a $4.1 million improvement.
  • Cash and investments were $83.3 million at March 31, 2015.

Q1 2015 Corporate Highlights

  • Obtained U.S. FDA drug approval to market Triferic (ferric pyrophosphate citrate) for iron replacement and hemoglobin maintenance in hemodialysis patients.
  • Presented Triferic clinical data at the National Kidney Foundation Spring Meeting and the Annual Dialysis Conference.
  • Increased manufacturing of Triferic active pharmaceutical ingredient (API) in preparation for commercial product launch.

“The first quarter was highlighted by obtaining FDA drug approval to market Triferic, a major milestone for our Company,” stated Mr. Robert L. Chioini, Chairman and Chief Executive Officer of Rockwell. “Triferic is a true iron maintenance therapy and we believe it will greatly benefit patients while becoming the new standard of care for treating anemia in hemodialysis patients. We are working diligently toward a successful commercial launch for Triferic, and we are pleased with the nephrology community’s strong interest and feedback on the drug. Currently, both Triferic and Calcitriol are on track for commercial launch.”

Mr. Chioini further commented, “Our concentrate business continued to perform well and was in line with expectations following the Baxter distribution agreement. We had $83.3 million in cash and liquid investments and no long-term debt at the end of March 2015, giving us a strong financial position as we prepare for commercial drug launch and further Company growth.” (Original Source)

Shares of Rockwell Medical closed today at $9.41, up $0.06 or 0.64%. RMTI has a 1-year high of $12.47 and a 1-year low of $8.10. The stock’s 50-day moving average is $10.46 and its 200-day moving average is $10.08.

On the ratings front, Rockwell Medical has been the subject of a number of recent research reports. In a report issued February 27, Brean Capital analyst Jonathan Aschoff maintained a Sell rating on RMTI, with a price target of $4, which implies a downside of 57.2% from current levels. Separately, on January 27, Summer Street’s James Molloy reiterated a Buy rating on the stock and has a price target of $25.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jonathan Aschoff and James Molloy have a total average return of 4.6% and 12.5% respectively. Aschoff has a success rate of 49.5% and is ranked #833 out of 3594 analysts, while Molloy has a success rate of 60.0% and is ranked #866.

Rockwell Medical Inc is a biopharmaceutical company targeting end-stage renal disease and chronic kidney disease with products and services for the treatment of iron deficiency, secondary hyperparathyroidism and hemodialysis.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts