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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.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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