Rockwell Medical, Inc. Files 10-Q for Period Ending March 31, 2024

AI Summary

ROCKWELL MEDICAL, INC. (RMTI) filed a Quarterly Report (10-Q) with the SEC on May 14, 2024. Rockwell Medical, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's principal business address is 30142 Wixom Road, Wixom, MI 48393. The Standard Industrial Classification code for the company is 2834 (Pharmaceutical Preparations). The filing includes data related to common stock, preferred stock, additional paid-in capital, retained earnings, and accumulated other comprehensive income for various periods.

Why It Matters

For investors and stakeholders tracking ROCKWELL MEDICAL, INC., this filing contains several important signals. This 10-Q filing provides an update on Rockwell Medical's financial position and operational activities for the first quarter of 2024, which is crucial for investors to assess recent performance. The detailed financial statements and disclosures within the 10-Q are essential for understanding the company's current health, including its capital structure and equity accounts.

Risk Assessment

Risk Level: low — ROCKWELL MEDICAL, INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant new risks or material adverse events beyond typical business disclosures.

Analyst Insight

Monitor future filings for updates on revenue, net income, and any strategic initiatives mentioned to gauge the company's growth trajectory.

Key Numbers

• 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-14 — Filing Date (FILED AS OF DATE)
• 2024 — Fiscal Year (FILING VALUES)
• Q1 — Quarter (FILING VALUES)

Key Players & Entities

• ROCKWELL MEDICAL, INC. (company) — FILER
• 20240331 (date) — CONFORMED PERIOD OF REPORT
• 20240514 (date) — FILED AS OF DATE
• 30142 WIXOM ROAD (address) — BUSINESS ADDRESS
• WIXOM (city) — BUSINESS ADDRESS
• MI (state) — BUSINESS ADDRESS
• 48393 (zip) — BUSINESS ADDRESS
• 2834 (sic_code) — STANDARD INDUSTRIAL CLASSIFICATION

FAQ

Industry Context

Rockwell Medical operates within the pharmaceutical preparations industry, focusing on products related to dialysis and chronic kidney disease.

Regulatory Implications

The filing is a standard 10-Q, adhering to SEC regulations for quarterly financial reporting by public companies.

What Investors Should Do

1. Review the full 10-Q document for detailed financial statements and management's discussion and analysis.
2. Analyze any changes in equity, debt, or cash positions compared to previous filings.
3. Track any disclosures regarding new products, partnerships, or regulatory developments.

Year-Over-Year Comparison

This filing is the first 10-Q for the fiscal year 2024, providing updated financial information compared to the previous year's filings.

Key Financial Figures

• $0.0001 — ch registered: Common Stock, par value $0.0001 RMTI Nasdaq Capital Market The number

Filing Documents

• rmti-20240331.htm (10-Q) — 827KB
• rmti-20240331x10qex311.htm (EX-31.1) — 9KB
• rmti-20240331x10qex321.htm (EX-32.1) — 5KB
• 0001628280-24-023056.txt ( ) — 6736KB
• rmti-20240331.xsd (EX-101.SCH) — 58KB
• rmti-20240331_cal.xml (EX-101.CAL) — 88KB
• rmti-20240331_def.xml (EX-101.DEF) — 302KB
• rmti-20240331_lab.xml (EX-101.LAB) — 713KB
• rmti-20240331_pre.xml (EX-101.PRE) — 523KB
• rmti-20240331_htm.xml (XML) — 840KB

— Financial Information (unaudited)

Part I — Financial Information (unaudited)

- Unaudited Financial Statements

Item 1 - Unaudited Financial Statements Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2024 and 2023 5 Condensed Consolidated Statements of Comprehensive Loss for the Three Months Ended March 31, 2024 and 2023 6 Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three Months Ended March 31, 2024 and 2023 7 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 8 Notes to Condensed Consolidated Financial Statements 9

- Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations 16

- Quantitative and Qualitative Disclosures about Market Risk

Item 3 - Quantitative and Qualitative Disclosures about Market Risk 17

- Controls and Procedures

Item 4 - Controls and Procedures 17

— Other Information

Part II — Other Information

- Legal Proceedings

Item 1 - Legal Proceedings 17

- Risk Factors

Item 1A - Risk Factors 17

- Unregistered Sales of Equity Securities and Use of Proceeds

Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds 17

- Defaults Upon Senior Securities

Item 3 - Defaults Upon Senior Securities 17

- Mine Safety Disclosures

Item 4 - Mine Safety Disclosures 17

- Other Information

Item 5 - Other Information 17

- Exhibits

Item 6 - Exhibits 17

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements ROCKWELL MEDICAL, INC. AND SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share and par value amounts) March 31, 2024 December 31, 2023 ASSETS Cash and Cash Equivalents $ 6,642 $ 8,983 Investments Available-for-Sale 1,977 1,952 Accounts Receivable, net 11,094 10,901 Inventory, net 6,073 5,871 Prepaid and Other Current Assets 910 1,063 Total Current Assets 26,696 28,770 Property and Equipment, net 6,134 6,402 Inventory, Non-Current 178 178 Right of Use Assets - Operating, net 3,884 2,713 Right of Use Assets - Financing, net 1,762 1,903 Intangible Assets, net 10,621 10,759 Goodwill 921 921 Other Non-Current Assets 527 527 Total Assets $ 50,723 $ 52,173 LIABILITIES AND STOCKHOLDERS' EQUITY Accounts Payable $ 4,919 $ 4,516 Accrued Liabilities 5,253 7,149 Deferred Consideration - Current 2,500 2,500 Lease Liabilities - Operating - Current 1,464 1,381 Lease Liabilities - Financing - Current 566 558 Deferred License Revenue - Current 46 46 Insurance Financing Note Payable — 244 Customer Deposits 201 243 Total Current Liabilities 14,949 16,637 Lease Liabilities-Operating - Long-Term 2,504 1,433 Lease Liabilities-Financing - Long-Term 1,384 1,530 Term Loan - Long-Term, net of issuance costs 8,265 8,293 Deferred License Revenue - Long-Term 464 475 Deferred Consideration - Long-Term 2,500 2,500 Long Term Liability - Other 14 14 Total Liabilities 30,080 30,882 3 March 31, 2024 December 31, 2023 Stockholders' Equity: Preferred Stock, $ 0.0001 par value, 2,000,000 shares authorized; 15,000 shares issued and outstanding at March 31, 2024 and December 31, 2023 — — Common Stock, $ 0.0001 par value; 170,000,000 shares authorized; 29,556,474 and 29,130,607 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 3 3 Additional Paid-in Capital 419,545 418,487 Accumulated Deficit ( 398,929 ) ( 397,198 ) Accumulated Other Comprehensive Income (

View Full Filing

View this 10-Q filing on SEC EDGAR