Rockwell Medical Q2 2020 Earnings Report
Key Takeaways
Rockwell Medical reported a 7.1% increase in net sales for the second quarter of 2020, primarily due to increased demand for dialysis concentrates products, and made progress in the commercialization of Triferic Dialysate despite COVID-19 challenges.
Q2 2020 revenue was $15.9 million.
Contracted clinics increased by 44% quarter-over-quarter.
Contracted annualized treatment volume for Triferic Dialysate reached over 400,000.
Cash, cash equivalents, and investments available-for-sale totaled $40.0 million as of June 30, 2020.
Rockwell Medical
Rockwell Medical
Forward Guidance
Rockwell Medical expects to initiate a sample evaluation program for Triferic AVNU during the third quarter of 2020 in order to prepare for a commercial launch and will monitor the evaluation program in relation to the COVID-19 pandemic through the balance of the year.
Positive Outlook
- Initiate a sample evaluation program for Triferic AVNU during the third quarter of 2020
- Prepare for a commercial launch of Triferic AVNU
- Expect regulatory approval in Canada in mid-2021
- Commercial introduction to Triferic AVNU
- Expect Triferic AVNU to be available commercially during the fourth quarter of 2020
Challenges Ahead
- Impact of COVID-19 on business and operating results
- Challenges inherent in new product development
- Success of commercialization strategy
- Anticipated research and development expenses
- Monitor the evaluation program in relation to the COVID-19 pandemic through the balance of the year