Business
Rockwell Medical, Inc. Provides First Quarter 2020 Financial and Operational Update and Top-line Real-World Triferic Data
-Q1 2020 revenue of $15.9 million- -Received FDA Approval of Triferic® AVNUTM- -Significant expansion of Triferic (ferric pyrophosphate citrate) Dialysate
About this update from Rockwell Medical, Inc.
[{"type":"text","content":"-Q1 2020 revenue of $15.9 million-\n -Received FDA Approval of Triferic® AVNUTM- -Significant expansion of Triferic (ferric pyrophosphate citrate) Dialysate Evaluation Programs during Q1 2020- -Retrospective real-world analysis over 18 months shows reduction in ESA and traditional IV iron use, stable-to-increasing hemoglobin levels, reductions in missed treatments, and quality-of-life improvements following clinical adoption of Triferic- -Strengthened financial position with $48.9 million in cash, cash equivalents and marketable securities as of March 31, 2020- -Conference call and webcast scheduled for today at 4:30 p.m. ET- WIXOM, Mich., May 11, 2020 (GLOBE NEWSWIRE) -- Rockwell Medical, Inc. (Nasdaq: RMTI) (“Rockwell Medical” or the “Company”), a biopharmaceutical company dedicated to transforming anemia management and improving outcomes for patients around the world, today reported financial results and a business update for quarter ended March 31, 2020. “In my new role, my charge is to maximize the commercial potential of our two FDA-approved products, Triferic Dialysate and Triferic AVNU, while developing Rockwell Medical into a more medically- and scientifically-driven company, which includes leading the strategic identification and pursuit of new therapeutic areas for our ferric pyrophosphate citrate platform,” said Russell Ellison, M.D., M.Sc., President and Chief Executive Officer of Rockwell Medical. “I am pleased to report continued progress in our commercialization of Triferic Dialysate in the first quarter, including an acceleration of Triferic Dialysate Evaluation Programs and a continued increase in contracted clinics. Importantly, we secured FDA approval of Triferic AVNU at the end of March and are working diligently to prepare for a successful launch of this intravenous (“IV”) formulation later this year.” Dr. Ellison added: “In addition, we are encouraged by the top-line data announced today from a retrospective real-world analysis of Triferic Dialysate within a dialysis clinic. Following adoption of Triferic within the studied clinic, we observed the reduction of the use of erythropoietin stimulating agents (“ESAs”) and traditional IV iron, improvement in hemoglobin levels, fewer missed appointments among patients, and an improvement in patients’ quality of life. These measures are important factors in patien...