Stock Update (NASDAQ:RMTI): Rockwell Medical Inc Announces the U.S. Commercial Launch of Triferic (TM)


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, announced today the nationwide commercial availability of Triferic (ferric pyrophosphate citrate). Triferic is the only FDA approved iron product indicated to replace iron and maintain hemoglobin in hemodialysis patients in the United States.

Dr. Steven Fishbane, lead author and Chief, Division of Kidney Diseases and Hypertension, North Shore University Hospital and Long Island Jewish Medical Center, stated, “I’m very excited to be able to provide Triferic to my patients. Having iron delivered at every dialysis treatment that immediately binds to transferrin and that does not induce iron overload is very similar to the slower, natural process in which iron is used in the body to maintain hemoglobin. We have seen the positive benefits Triferic has had on our patients during the clinical studies and now we are excited to have the drug available to treat patients beyond the research setting. Treating patients with a repletion therapy like IV iron has been associated with a variety of risks. Triferic, in contrast, is a true iron maintenance therapy with an exceptional safety profile and is an important new option for treating patients on chronic hemodialysis.”

“We are thrilled to bring Triferic to the U.S. dialysis market,” stated Robert L. Chioini, Founder, Chairman and Chief Executive Officer of Rockwell Medical. “Triferic addresses a major unmet need as it overcomes functional iron deficiency in hemodialysis patients. IV iron is generally given weekly and by design is trapped in the patient’s liver, which leads to iron overload and the functional iron deficiency that is prevalent in patients today. Triferic however replaces iron at every patient treatment and maintains hemoglobin concentration without increasing iron stores, because the iron is used immediately and not stored in the liver. Triferic benefits patients, nurses, doctors and healthcare providers and we are very motivated to commercialize it. We believe Triferic will become the standard of care in iron replacement for dialysis patients.” (Original Source)

Shares of Rockwell Medical closed yesterday at $11.93. RMTI has a 1-year high of $18.90 and a 1-year low of $8.10. The stock’s 50-day moving average is $13.16 and its 200-day moving average is $12.27.

On the ratings front, Rockwell Medical has been the subject of a number of recent research reports. In a report issued on August 21, Oppenheimer analyst Ling Wang reiterated a Buy rating on RMTI, with a price target of $26, which represents a potential upside of 117.9% from where the stock is currently trading. Separately, on August 13, Morgan Stanley’s Andrew Berens initiated coverage with a Sell rating on the stock and has a price target of $7.

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ling Wang and Andrew Berens have a total average return of -6.2% and 3.5% respectively. Wang has a success rate of 29.8% and is ranked #3429 out of 3752 analysts, while Berens has a success rate of 50.0% and is ranked #1791.

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.

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