BTIG Says Rockwell Medical (RMTI) Launch of Calcitriol Inline with Views; Affirms at 'Buy'
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BTIG affirms Rockwell Medical, Inc. (Nasdaq: RMTI) at Buy with a price target of $12 after the company provided an update on the commercial launch of Calcitriol, stating that stability data for completed finished product for commercial sale continues to remain within specification.
The firm said that timing for the launch was inline with its projection calling for late 2016/early 2017. The firm also noted:
- Calcitriol launch has been delayed due to issues related to the specification for stability of one inactive ingredient by its third-party contract manufacturer (CMO).
- Calcitriol provides a lower-cost alternative to Vitamin D for dialysis providers. Calcitriol is a generic vitamin D injection for the treatment of secondary hyperparathyroidism in dialysis patients. It is also the only generic vitamin D with clinical data which shows clinical equivalence in safety and efficacy to branded drugs, providing a lower-cost alternative for dialysis providers. We project Calcitriol peak sales of $48M in the US.
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