Rockwell Medical, Inc. · NASDAQ:RMTI
Rockwell Medical — Proxy Contest (May 2017)
14 slides from Rockwell Medical's proxy contest presentation, May 15, 2017
Slide 1: Rockwell Medical, Inc.'s (RMTI) False and Misleading Claims
Rockwell Medical, Inc.’s (RMTI) False and Misleading Claims Richmond Brothers, Inc. is an SEC-Registered Investment Adviser.
Slide 2: Disclaimer
Disclaimer THIS PRESENTATION IS FOR DISCUSSION AND GENERAL INFORMATIONAL PURPOSES ONLY. IT DOES NOT HAVE REGARD TO THE SPECIFIC INVESTMENT OBJECTIVE, FINANCIAL SITUATION, SUITABILITY, OR THE PARTICULAR NEED OF ANY SPECIFIC PERSON WHO MAY RECEIVE THIS PRESENTATION, AND SHOULD NOT BE TAKEN AS ADVICE O
Slide 3: Rockwell is Not Making Visible Progress with Triferic
Rockwell is Not Making Visible Progress with Triferic The Company calls this significant progress? Shareholders have been hearing the same noncommittal update for a long time… “We believe we are on the cusp of gaining this reimbursement” – Q1 2017 Earnings Call “I can't predict exactly when we will
Slide 4: Rockwell's Strategy for Triferic is Not Working
Rockwell’s Strategy for Triferic is Not Working This drug has been approved for nearly 2.5 years but is still not on the market… • On the most recent earnings call, Rockwell claims that “add- on reimbursement for Triferic is the absolute right thing to do. It's right for the 470,000 dialysis patient
Slide 5: Rockwell Does Not Take Responsibility for Delays
Rockwell Does Not Take Calcitriol failed a stability test, or in Chioini’s words, “a stability issue Responsibility for Delays occurred.” – Q1 2017 Earnings Call This led to manufacturing the product again, so “the FDA… requested that the Company resubmit the application or the new contract manufact
Slide 6: Rockwell is Resorting to Desperate Tactics in an Attempt to Show Value
Rockwell is Resorting to Desperate Tactics in an Attempt to Show Value Is this an index created by RMTI’s IR/PR firm? Did Rockwell and its advisors manufacture this “index” comprised of cherry-picked companies to inflate Rockwell’s relative performance? RMTI claims the NBI isn’t an accurate comparis
Slide 7: RMTI Continues to Misrepresent The Intentions of Richmond Brothers
RMTI Continues to Misrepresent The Intentions of Richmond Brothers Rockwell is Spreading Falsehoods Against Richmond Brothers and Mark H. Ravich • Richmond Brothers has never advocated for a sale of the Company. • 1 board seat out of 5 does not qualify as ‘gaining control’ of a company. • Ravich has
Slide 8: Rockwell is Misleading Shareholders with Falsehoods About Richmond and Ravich
Rockwell is Misleading Shareholders with Falsehoods About Richmond and Ravich The real story: Rockwell doesn’t mention that this group was unable to attract a client to pursue this matter because, in fact, there was nothing to pursue and no litigation was initiated. Faruqi & Faruqi is known to send
Slide 9: A Board Characterized by Poor Corporate Goverance
A Board Characterized by Poor Corporate Goverance Robin Smith doesn’t have the necessary experience or track record of successful results to be additive at RMTI. Entrenched, stale Board = lacking independence Rob’s former personal Rockwell’s Board is tone deaf to shareholders, with a history of fili
Slide 10: A Purely Reactive Response
A Purely Reactive Response • History shows that Rockwell’s claims that it made proactive governance changes are false. • These changes took place after we privately and then publicly called out Rockwell’s poor corporate governance. • Rockwell’s response was purely reactive, and the Board cannot be t
Slide 11: David Domzalski is not Qualified to Sit on the Rockwell Board
David Domzalski is not Qualified to Sit on the Rockwell Board The Real Story • Lack of Experience – While Domzalski has worked at healthcare and pharmaceutical companies, his roles have been primarily sales and marketing focused. • Lack of Accomplishment – Domzalski delivered meager sales at Leo Pha
Slide 12: The Troubling Facts about David Domzalski
The Troubling Facts about David Domzalski Was Domzalski Hand-Picked by Rob Chioini? Is he truly independent? It appears that Foamix, where Domzalski works, also has a LifeSci Advisors connection. The Company claims that it conducted an extensive search for David Domzalski, yet Rockwell never even in
Slide 13: Mark H. Ravich Is Right for Rockwell
Mark H. Ravich Is Right for Rockwell ✓ Successful Investor • For 27 years, Mark has been an investor in medical device companies • Mark currently serves as President of Tri-Star Management, Inc., a commercial real estate management and syndication company that he co- founded in 1998 ✓ Strong Busines
Slide 14: When it Comes to Relevant Experience, There is no Comparison
When it Comes to Relevant Experience, There is no Comparison Mark H. Ravich David Domzalski CEO of a Public Company Turnaround Expert Entrepreneur Public Board Experience Private Board Medical Experience Mark H. Ravich Successful Investor in Biotech/Med David Domzalski MBA from Wharton Independent f