Rockwell Medical Technologies (RMTI) – Why Rockwell Medical (RMTI) Shares Are Trading Higher Today


  • HC Wainwright has increased the price target on Rockwell Medical Inc RMTI from $3 to $8, with a Buy rating, reflecting a 1-for-11 reverse stock split effected in May and a renewed focus on the hemodialysis concentrates business.
  • Rockwell Medical recorded Q2 sales of $18.7 million, the highest quarterly revenue recorded by the company since its inception.
  • The analyst believes that management’s decision to prioritize stabilization of the established hemodialysis concentrates business should pay off.
  • “We expect the company to unlock value from its ferric pyrophosphate citrate (FPC) franchise, particularly once clinical development of FPC for use in the home-based setting is completed.”
  • The analyst thinks the management might look for non-dilutive sources of capital to fund these initiatives. 
  • Rockwell’s partner in China, Wanbang Biopharmaceuticals, enrolled the final patient six months ahead of schedule in its 442-subject Phase 3 trial for Triferic, with topline data expected in 1H of 2023 and regulatory decision in China could come in 2024.
  • Price Action: RMTI shares are up 15.5% at $1.64 on the last check Tuesday.


Image and article originally from Read the original article here.