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Mar 31, 2020
Rockwell Medical Q1 2020 Earnings Report
Reported financial results with a 2% increase in net sales and secured FDA approval of Triferic AVNU.
Key Takeaways
Rockwell Medical reported a 2% increase in net sales for Q1 2020, driven by Triferic Dialysate sales. The company also received FDA approval for Triferic AVNU and strengthened its financial position with $48.9 million in cash, cash equivalents, and marketable securities.
Q1 2020 revenue reached $15.9 million, a 2% increase year-over-year.
FDA approved Triferic AVNU.
Expanded Triferic Dialysate Evaluation Programs significantly during the quarter.
Cash, cash equivalents, and marketable securities totaled $48.9 million as of March 31, 2020.
Rockwell Medical
Rockwell Medical
Forward Guidance
The company anticipates launching evaluation programs for Triferic AVNU in Q3 2020, with commercial availability expected in Q4 2020.
Positive Outlook
- Increased U.S. product sales of Triferic Dialysate.
- FDA approval of Triferic AVNU.
- Advancements in medical platform to support Triferic development.
- Exclusive license and supply agreements with Sun Pharma for Triferic Dialysate in India.
- Strengthened balance sheet with debt financing and public offering proceeds.
Challenges Ahead
- Potential challenges inherent in new product development.
- Risk that clinical data may not be predictive of future results.
- Potential impact of the COVID-19 pandemic on business and operating results.
- Increase in research and product development expenses.
- Uncertainties regarding future clinical trials and commercialization efforts.