Rockwell Medical Shares Surge On South Korean Approval For Iron Supplementation Therapy

Rockwell Medical Inc's RMTI partner, Jeil Pharmaceutical Co Ltd, has received regulatory approval in South Korea for Triferic Injection for iron supplementation therapy and maintaining hemoglobin in adult patients with hemodialysis-dependent chronic kidney disease.

• Rockwell Medical has an exclusive license agreement with Jeil to commercialize Triferic in South Korea. 
• Regarding the license, Rockwell Medical has received an upfront fee and will be eligible for milestone payments and royalties on net sales. 
• Product sales are anticipated to begin in June/July of 2022.
• Related: Why Are Rockwell Medical Shares Surging Wednesday?
• More than 82,000 patients receive hemodialysis annually in South Korea.
• Triferic Dialysate (ferric pyrophosphate citrate) and Triferic AVNU (ferric pyrophosphate citrate injection) are the only FDA-approved therapies in the U.S. to replace iron and maintain iron hemoglobin in hemodialysis patients during each dialysis treatment. 
• Triferic Dialysate and Triferic AVNU deliver approximately 5-7 mg iron with every hemodialysis treatment to replace the ongoing losses to maintain hemoglobin without increasing iron stores. 
• Price Action: RMTI shares are up 24.5% at $0.50 during the market session on the last check Thursday.