August 5, 2010

Rockwell Medical Reports Record Second Quarter Results

Aug 5, 2010 (GlobeNewswire via COMTEX News Network) --

        - Revenues Increase 19.2 %; Gross Profit Increases 49% -


  - Conference Call at 8:30am ET to Discuss Results and Review Clinical
                              Development -


WIXOM, Mich., Aug. 5, 2010 (GLOBE NEWSWIRE) -- Rockwell Medical (Nasdaq:RMTI), a fully-integrated biopharmaceutical company offering innovative products and services targeting end-stage renal disease (ESRD), chronic kidney disease (CKD) and iron deficiency anemia, reported second quarter 2010 results today.

Second Quarter Financial Highlights

  --  Sales increased to $15.5 million, up 19.2% compared to the second
      quarter of 2009.
  --  Gross profit increased to $2.8 million, up 49% or $0.9 million compared
      to the second quarter of 2009.
  --  Gross profit margins increased to 17.9%, compared to 14.3% in the second
      quarter of 2009.
  --  R&D expense was $0.4 million, compared to $2.0 million in the second
      quarter of 2009.
  --  Net income was $.01 per share, compared to a loss of ($.12) per share in
      the second quarter of 2009.
  --  Net income was $0.1 million, compared to a loss of ($1.7) million in the
      second quarter of 2009.


First Half 2010 Financial Highlights

  --  Sales increased to $30.5 million, up 18.1% compared to the first half of
      2009.
  --  Gross profit increased to $5.1 million, up 67% or $2 million compared to
      the first half of 2009.
  --  Gross profit margins increased to 16.7%, compared to 11.8% in the first
      half of 2009.
  --  R&D expense was $1.0 million, compared to $3.3 million in the first half
      of 2009.
  --  Net loss was ($.02) per share, compared to a loss of ($.25) per share in
      the first half of 2009.
  --  Net loss was ($0.3) million, compared to a loss of ($3.4) million in the
      first half of 2009.
  --  Cash and cash equivalents were $24.2 million at June 30, 2010, an
      increase of $1.2 million from December 31, 2009.


Second Quarter Drug Development and Corporate Progress

  --  Successfully completed End of Phase II meeting with the FDA; confirmed
      approvable Phase III primary endpoint.
  --  Presented SFP Phase IIb study data at European Dialysis Conference.
  --  Appointed Dr. Ajay Singh to Scientific Advisory Board.


"We are pleased with our strong second quarter earnings, reflecting our best quarterly results to date. Our performance was in line with our expectations and we expect that our operating business will continue to generate cash to support the funding of our Phase III clinical development," stated Mr. Robert L. Chioini, Chairman and CEO of Rockwell. "From our recent End of Phase II meeting with the FDA, we confirmed a change in hemoglobin as an approvable primary efficacy endpoint for our Phase III study design. We intend to use a primary efficacy endpoint in the Phase III study that is identical to a secondary efficacy endpoint we had in our Phase IIb study, which achieved a statistically significant p-value, demonstrating an excess of 0.5 g/dL difference in hemoglobin between placebo and the SFP 10 ug/dl dose group." Mr. Chioini further stated, "Our regulatory path for SFP is now clear and we expect to submit our Phase III protocol design to the FDA shortly. We remain on track to start the pivotal Phase III program later this year."

Conference Call Information:

Rockwell Medical will be hosting a conference call to review its 2010 second quarter results on Thursday, August 5, 2010 at 8:30am ET. Investors are encouraged to call in a few minutes in advance at (877) 383-7438. International participants can call in at (678) 894-3975. To listen to the call on the web or to the call replay, investors can visit: http://ir.rockwellmed.com/.

About SFP:

SFP is a novel, investigational, continuous iron therapy designed to treat iron deficiency anemia in ESRD patients. SFP is a proprietary, water-soluble form of iron that travels directly to the bloodstream and transfers iron at a cellular level, similar to normal physiologic dietary iron intake. SFP is designed as a continuous replacement treatment delivering small doses of iron during every dialysis session in order to replenish iron lost during the dialysis procedure, thereby maintaining hemoglobin in the target range as per Kidney Disease Quality Outcomes Initiative (KDQOI) recommendations. Clinical trials to date suggest that SFP, delivered during each dialysis treatment via dialysate, maintains optimal iron balance and avoids liver toxicity while decreasing associated drug administration costs. Recent academic studies have shown that more frequent maintenance doses of iron improve the therapeutic response to erythropoiesis-stimulating agents (ESA), thereby decreasing the ESA doses needed to maintain hemoglobin in the target range. Rockwell Medical has licensed exclusive world-wide rights to manufacture and sell SFP and patents have issued for SFP in multiple countries, including the three largest dialysis markets in the world: the United States, Japan, and the European Union. Based on current market data, the U.S. dialysis market for IV iron is approximately $560 million annually while global market potential is approximately $1 billion.

About Rockwell Medical:

Rockwell Medical is a fully-integrated biopharmaceutical company offering innovative products and services initially targeting end-stage renal disease (ESRD), chronic kidney disease (CKD), and iron deficiency anemia. An established manufacturer and leader in delivering high-quality hemodialysis concentrates/dialysates to dialysis providers and distributors in the U.S. and abroad, Rockwell provides products that are used to maintain human life by removing toxins and replacing critical nutrients in the dialysis patient's bloodstream. Dialysis is a process that duplicates kidney function for patients who suffer from ESRD. There are approximately 400,000 ESRD patients in the United States, a prevalence growing at an annual rate of 4 percent, and approximately 2 million ESRD patients world-wide.

The Company is currently developing unique, proprietary renal drug therapies for iron treatment. These exclusive renal drug therapies support disease management initiatives to improve the quality of life and care of dialysis patients and are designed to deliver safe and effective therapy, while decreasing drug administration costs and improving patient convenience. Rockwell Medical is developing a pipeline of drug therapies, including extensions of SFP for indications outside of hemodialysis. Please visit www.rockwellmed.com for more information.

The Rockwell Medical Technologies, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6773

Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan", "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in Rockwell Medical's SEC filings. Thus, actual results could be materially different. Rockwell Medical expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

                       ROCKWELL MEDICAL TECHNOLOGIES, INC. AND SUBSIDIARY

                                 CONSOLIDATED INCOME STATEMENTS

               For the three and six months ended June 30, 2010 and June 30, 2009

                                           (Unaudited)

                                        Three Months  Three Months
                                                                     Six Months    Six Months
                                           Ended         Ended         Ended         Ended

                                          June 30,      June 30,      June 30,      June 30,
                                            2010          2009          2010          2009
                                        ------------  ------------  ------------  ------------
  Sales                                 $ 15,506,712  $ 13,013,012  $ 30,486,664  $ 25,809,784

  Cost of Sales                           12,735,047    11,153,086    25,401,470    22,756,911
                                        ------------  ------------  ------------  ------------
   Gross Profit                            2,771,665     1,859,926     5,085,194     3,052,873
  Selling, General and Administrative      2,221,336     1,570,688     4,416,239     3,131,503

  Research and Product Development           441,273     1,996,571       958,688     3,334,881
                                        ------------  ------------  ------------  ------------
   Operating Income (Loss)                   109,056   (1,707,333)     (289,733)   (3,413,511)

  Interest Expense (Income), Net             (7,861)         7,238      (12,970)        16,503
                                        ------------  ------------  ------------  ------------

   Net Income (Loss)                       $ 116,917  $(1,714,571)    $(276,763)  $(3,430,014)
                                        ============  ============  ============  ============

  Basic Earnings (Loss) per Share             $ 0.01      ($ 0.12)      ($ 0.02)      ($ 0.25)

  Diluted Earnings (Loss) per Share           $ 0.01      ($ 0.12)      ($ 0.02)      ($ 0.25)


   ROCKWELL MEDICAL TECHNOLOGIES,
        INC. AND SUBSIDIARY

    CONSOLIDATED BALANCE SHEETS

      As of June 30, 2010 and
          December 31, 2009


                                        June 30,         December 31,
   ASSETS                                 2010               2009
                                   -----------------  -----------------
                                      (unaudited)
  Cash and Cash Equivalents             $ 24,199,534       $ 23,038,095
  Accounts Receivable, net of a
   reserve of $30,000 in 2010 and
   $31,000 in 2009                         4,598,332          3,492,622
  Inventory                                2,863,461          3,088,352

  Other Current Assets                       451,158            329,876
                                   -----------------  -----------------
   Total Current Assets                   32,112,485         29,948,945

  Property and Equipment, net              3,431,426          3,631,549
  Intangible Assets                          198,521            214,337
  Goodwill                                   920,745            920,745

  Other Non-current Assets                   163,706            163,645
                                   -----------------  -----------------

   Total Assets                         $ 36,826,883       $ 34,879,221
                                   =================  =================

  LIABILITIES AND SHAREHOLDERS'
   EQUITY

  Capitalized Lease Obligations             $ 27,280           $ 42,938
  Accounts Payable                         3,441,891          3,388,757
  Accrued Liabilities                      1,831,253          1,854,347

  Customer Deposits                          630,448            250,915
                                   -----------------  -----------------
   Total Current Liabilities               5,930,872          5,536,957

  Capitalized Lease Obligations                9,365             19,062

   Shareholders' Equity:
  Common Shares, no par value,
   17,202,108 and 17,200,442
   shares issued and outstanding          55,062,172         53,545,394
  Common Share Purchase Warrants,
   3,328,569 and 3,318,569
   warrants issued and
   outstanding                             7,959,023          7,635,594

  Accumulated Deficit                   (32,134,549)       (31,857,786)
                                   -----------------  -----------------

   Total Shareholders' Equity             30,886,646         29,323,202
                                   -----------------  -----------------

   Total Liabilities and
    Shareholders' Equity                $ 36,826,883       $ 34,879,221
                                   =================  =================


   ROCKWELL MEDICAL TECHNOLOGIES, INC. AND
                  SUBSIDIARY

     CONSOLIDATED STATEMENTS OF CASH FLOWS

  For the six months ended June 30, 2010 and
                 June 30, 2009

                 (Unaudited)


                                                   2010            2009
                                              --------------  --------------

  Cash Flows From Operating Activities:
   Net (Loss)                                    $ (276,763)   $ (3,430,014)
   Adjustments To Reconcile Net Loss To Net
    Cash Used In
    Operating Activities:
    Depreciation and Amortization                    707,749         527,292
    Loss (Gain) on Disposal of Assets                 16,822         (5,120)
    Share Based Compensation -- Non-employee
     Warrant                                         323,429         256,362
    Share Based Compensation -- Employees          1,511,630         773,833

   Changes in Assets and Liabilities:
   (Increase) Decrease in Accounts
    Receivable                                   (1,105,710)         484,707
   Decrease in Inventory                             224,891         348,313
   (Increase) Decrease  in Other Assets            (121,343)           4,898
   Increase (Decrease) in Accounts Payable            53,134       (191,036)

   Increase (Decrease) in Other Liabilities          356,439       (492,749)
                                              --------------  --------------

     Changes in Assets and Liabilities             (592,589)         154,133
                                              --------------  --------------
     Cash Provided by (Used) In Operating
      Activities                                   1,690,278     (1,723,514)

  Cash Flows From Investing Activities:
   Purchase of Equipment                           (509,432)       (589,008)
   Proceeds on Sale of Assets                            800           5,120

   Purchase of Intangible Assets                          --        (10,257)
                                              --------------  --------------
     Cash (Used ) In Investing Activities          (508,632)       (594,145)

  Cash Flows From Financing Activities:
   Issuance of Common Shares and Purchase
    Warrants                                           5,148         140,502

   Payments on Notes Payable                        (25,355)        (84,030)
                                              --------------  --------------
     Cash Provided (Used) By Financing
      Activities                                    (20,207)          56,472

  Increase (Decrease) In Cash and Cash
   Equivalents                                     1,161,439     (2,261,187)
  Cash and Cash Equivalents at Beginning of
   Period                                         23,038,095       5,596,645
                                              --------------  --------------

  Cash and Cash Equivalents at End of Period    $ 24,199,534    $  3,335,458
                                              ==============  ==============

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Rockwell Medical Technologies, Inc.

CONTACT:  LaVoie Group
Media Contact:
Lisa Rivero, Director, Media Relations
(978)745-4200 ext. 106
The Trout Group LLC
Investor Contact:
Brian Korb, VP
(646) 378-2923

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