Rockwell Medical, Inc. | $RMTI Stock | Shares Fall On Poor Earnings & Revenue Numbers


Rockwell Medical, Inc. (NASDAQ: RMTI)



Rockwell Medical, Inc. (RMTI), a biopharmaceutical company yesterday reported their third quarter 2016 financial results. Rockwell reported a third quarter loss of $4.6 million. Rockwell reported third quarter earnings of a loss of $0.09 per share. Rockwell reported third quarter revenues of $12.8 million.


Rockwell Medical, Inc. CEO’s Comments

Mr. Robert L. Chioini, Chairman and Chief Executive Officer of Rockwell stated, “We continue to make solid progress in our efforts to obtain transitional add-on reimbursement for Triferic. We believe we are moving closer to our goal of securing it. Multiple stakeholders have aided us and support add-on reimbursement for Triferic. Concurrently, we have been educating our customers and patients about Triferic and its unique benefits. We also have advanced Triferic clinical development work for the renal application outside the U.S. as well as additional therapeutic indications. Overall, we are pleased with our progress, which includes ensuring we have redundancy in our manufacturing and supply capability.”  Globe Newswire


RMTI Technical Analysis


RMTI opened trading yesterday at $5.82 which was up from the previous day’s trading close of $5.67. RMTI closed trading yesterday at $5.66 and crashed down after market to $4.59, equivalent to a 19% decrease from the closing price. Taking a look at the daily chart we can see the last time RMTI traded below these levels we have to go back to the week of June 30th, 2013  when it traded at $3.42. Taking a closer look at the daily chart we can see that before the spike down RMTI had been in an overall downward trend dating back to June 2nd when it traded at $10.04. RMTI has a float of 47.35 million shares and traded below the normal daily trading volume on Monday. For trading purposes, I would like to see RMTI open trading on Tuesday below $5 and if it does I would be looking to take a short position at the bell. My stop loss would be $0.20 from my entry position fearing anything more than that and the stock would start to fill in the gap down. My friend Ross over at Warrior Trading is applying his Day Trading Strategies to these types of stocks.


Company Profile

Rockwell Medical, Inc. operates as an integrated biopharmaceutical company in the United States and internationally. It offers products and services for the treatment of end-stage renal disease, chronic kidney disease, iron deficiency, secondary hyperparathyroidism, and hemodialysis. The company’s products are used to cleanse patients’ blood and replace nutrients lost during the kidney dialysis process. It primarily markets Triferic, an iron compound that is delivered to hemodialysis patients via dialysate, replacing the ongoing iron loss that occurs during their dialysis treatment. The company also provides Calcitriol, a generic active vitamin D indicated for the treatment of secondary hyperparathyroidism in dialysis patients. In addition, it manufactures, sells, delivers, and distributes hemodialysis concentrates, such as CitraPure citric-acid concentrate, Dri-Sate dry acid concentrate, Renal Pure liquid acid concentrate, dry acid concentrate mixer, Renalpure powder bicarbonate concentrate, and SteriLyte liquid bicarbonate concentrate; and ancillary products, including blood tubings, fistula needles, specialized custom kits, dressings, cleaning agents, filtration salts, and other supplies used by hemodialysis providers. The company sells its products directly, as well as through independent sales agents and distributors. It targets customers include senior and operating management of dialysis companies, dialysis service providers, nephrologists, clinic administrators, nurses, medical directors, and purchasing personnel. Rockwell Medical, Inc. was founded in 1995 and is based in Wixom, Michigan.  Yahoo Finance