Business
Rockwell Medical, Inc. Provides Second Quarter 2020 Financial and Operational Update
-Q2 2020 revenue of $15.9 million- -Increase in contracted clinics of 44 percent quarter-over-quarter- -Reached contracted annualized treatment volume for
About this update from Rockwell Medical, Inc.
[{"type":"text","content":"-Q2 2020 revenue of $15.9 million-\n -Increase in contracted clinics of 44 percent quarter-over-quarter- -Reached contracted annualized treatment volume for Triferic Dialysate of over 400,000- - $40.0 million in cash, cash equivalents and investments available-for-sale as of June 30, 2020- -Q2 2020 conference call and webcast scheduled for today at 4:30 p.m. ET- - Management/KOL conference call and webcast scheduled for September 24, 2020, to review our prioritization programs for new potential FPC indications- WIXOM, Mich., Aug. 10, 2020 (GLOBE NEWSWIRE) -- Rockwell Medical, Inc. (Nasdaq: RMTI) (“Rockwell Medical” or the “Company”), a biopharmaceutical company dedicated to transforming the treatment of iron deficiency and anemia management and improving outcomes for patients around the world, today reported financial results and a business update for the three months ended June 30, 2020. “In the second quarter, we continued to make important progress in the commercialization of Triferic Dialysate, despite the challenges of the COVID-19 pandemic. We significantly increased the number of clinics contracted to administer the therapy, and we reached the highest number of contracted patients on therapy and contracted annualized treatment volume since our launch,” said Russell Ellison, M.D., M.Sc., President and Chief Executive Officer of Rockwell Medical. “We continue to diligently prepare for a successful launch of Triferic AVNU in the United States later this year.” “Importantly, we value the scientific underpinning of our ferric pyrophosphate citrate technology and the potential this represents in the treatment of iron deficiency and anemia. Approximately 10 million people are iron deficient in the United States, including 5 million who have iron deficiency anemia. We are committed to prudent medical and scientific advancements, and look forward to reviewing our programs for two therapeutic indications that, we believe, represent new opportunities to extend the innovative potential of our platform.” Second Quarter 2020 Operational Highlights Triferic Dialysate The Company signed contracts with 12 additional clinics during the second quarter of 2020, an increase of 44% in contracted clinics as compared to March 31, 2020. An additional eight clinics affiliated with a Medium-Sized Dialysis Organization (MDO) were trained and approve...