Rockwell Medical Inc. (RMTI) has priced an underwritten public offering of its common stock at $3.05 each. With approximately 11.47 million shares to be offered for sale in the offering, the gross proceeds are estimated to be $35.0 million and net proceeds are projected to be about $32.8 million.
The offering is expected to close on or about May 20, 2013, subject to the satisfaction of customary closing conditions.
The company's lead investigational drug is Soluble Ferric Pyrophosphate, which is under two phase III studies namely, CRUISE-1 and CRUISE-2, for the treatment of iron deficiency in dialysis patients.
Top-line results from the CRUISE-1 trial are expected in Q3 2013 and that of the CRUISE-2 study in Q4 2013.
Rockwell Medical is also awaiting manufacturing approval for its FDA approved generic drug called Calcitriol active vitamin D injection, which is indicated in the management of hypocalcemia in patients undergoing chronic renal dialysis. The company intends to launch Calcitriol as soon as it receives FDA manufacturing approval.
RMTI has thus far hit a 52-week low of $3.16 and a 52-week high of $10.70. The stock closed Wednesday's trading at $3.35, down 6.69%. In after-hours, the stock fell another 0.30% to $3.34.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.