Rockwell Medical Files Q2 2024 10-Q

TL;DR

ROCKWELL MEDICAL (RMTI) Q2 10-Q FILED - FINANCIALS OUT

AI Summary

Rockwell Medical, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter of 2024. Key financial figures and business segments are presented, reflecting the company's ongoing activities in the pharmaceutical preparations sector.

Why It Matters

This filing provides investors and stakeholders with a detailed look at Rockwell Medical's financial health and operational status for the second quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — As a pharmaceutical preparations company, Rockwell Medical operates in a highly regulated and competitive industry, which inherently carries significant risks.

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 20240808 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• ROCKWELL MEDICAL, INC. (company) — Filer of the 10-Q
• 0001041024 (company) — Central Index Key for Rockwell Medical, Inc.
• 20240630 (date) — End of the reporting period
• 20240808 (date) — Filing date of the 10-Q
• 30142 WIXOM ROAD (location) — Business and mailing address
• WIXOM (location) — City of business and mailing address
• MI (location) — State of business and mailing address
• 48393 (location) — ZIP code of business and mailing address

FAQ

Key Financial Figures

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

Filing Documents

• rmti-20240630.htm (10-Q) — 1085KB
• rmti-20240630x10qex311.htm (EX-31.1) — 9KB
• rmti-20240630x10qex321.htm (EX-32.1) — 5KB
• 0001628280-24-035859.txt ( ) — 7786KB
• rmti-20240630.xsd (EX-101.SCH) — 59KB
• rmti-20240630_cal.xml (EX-101.CAL) — 89KB
• rmti-20240630_def.xml (EX-101.DEF) — 332KB
• rmti-20240630_lab.xml (EX-101.LAB) — 760KB
• rmti-20240630_pre.xml (EX-101.PRE) — 558KB
• rmti-20240630_htm.xml (XML) — 1076KB

— Financial Information (unaudited)

Part I — Financial Information (unaudited)

- Unaudited Financial Statements

Item 1 - Unaudited Financial Statements Condensed Consolidated Balance Sheets as of June 3 0 , 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations for the Three and S ix Months Ended June 30 , 2024 and 2023 5 Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three and Six Months Ended June 30, 2024 and 2023 6 Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three and Six Months Ended June 30 , 2024 and 2023 7 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30 , 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 17

- Quantitative and Qualitative Disclosures about Market Risk

Item 3 - Quantitative and Qualitative Disclosures about Market Risk 20

- Controls and Procedures

Item 4 - Controls and Procedures 20

— Other Information

Part II — Other Information

- Legal Proceedings

Item 1 - Legal Proceedings 20

- Risk Factors

Item 1A - Risk Factors 20

- Unregistered Sales of Equity Securities and Use of Proceeds

Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds 20

- Defaults Upon Senior Securities

Item 3 - Defaults Upon Senior Securities 20

- Mine Safety Disclosures

Item 4 - Mine Safety Disclosures 20

- Other Information

Item 5 - Other Information 20

- Exhibits

Item 6 - Exhibits 20

– 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) June 30, 2024 December 31, 2023 ASSETS Cash and Cash Equivalents $ 11,863 $ 8,983 Investments Available-for-Sale — 1,952 Accounts Receivable, net 10,840 10,901 Inventory, net 5,883 5,871 Prepaid and Other Current Assets 1,167 1,063 Total Current Assets 29,753 28,770 Property and Equipment, net 6,009 6,402 Inventory, Non-Current 178 178 Right of Use Assets - Operating, net 3,515 2,713 Right of Use Assets - Financing, net 1,621 1,903 Intangible Assets, net 10,483 10,759 Goodwill 921 921 Other Non-Current Assets 548 527 Total Assets $ 53,028 $ 52,173 LIABILITIES AND STOCKHOLDERS' EQUITY Accounts Payable $ 3,347 $ 4,516 Accrued Liabilities 6,168 7,149 Deferred Consideration - Current 2,500 2,500 Lease Liabilities - Operating - Current 1,458 1,381 Lease Liabilities - Financing - Current 576 558 Deferred License Revenue - Current 46 46 Insurance Financing Note Payable 670 244 Customer Deposits 126 243 Total Current Liabilities 14,891 16,637 Lease Liabilities-Operating - Long-Term 2,142 1,433 Lease Liabilities-Financing - Long-Term 1,236 1,530 Term Loan - Long-Term, net of issuance costs 8,295 8,293 Deferred License Revenue - Long-Term 452 475 Deferred Consideration - Long-Term 2,500 2,500 Long Term Liability - Other 14 14 Total Liabilities 29,530 30,882 3 June 30, 2024 December 31, 2023 Stockholders' Equity: Preferred Stock, $ 0.0001 par value, 2,000,000 shares authorized; 15,000 shares issued and outstanding at June 30, 2024 and December 31, 2023 — — Common Stock, $ 0.0001 par value; 170,000,000 shares authorized; 31,030,218 and 29,130,607 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 3 3 Additional Paid-in Capital 422,086 418,487 Accumulated Deficit ( 398,586 ) ( 397,198 ) Accumulated Other Comprehensive Loss ( 5 )

View Full Filing

View this 10-Q filing on SEC EDGAR