ROCKWELL MEDICAL, INC. Management's Discussion and Analysis of Financial Condition and Results of Operations (form 10-Q) | MarketScreener

2022-11-28 20:34:05 By : Mr. John Hong

The following discussion and analysis should be read in conjunction with our condensed consolidated financial statements and related notes in "Item 1. Condensed Consolidated Financial Statements". References in this report to "Rockwell," the "Company," "we," "our" and "us" are references to Rockwell Medical, Inc. and its subsidiaries.

Rockwell Medical is a commercial healthcare company focused on providing life-sustaining products for patients suffering from blood disorders and diseases associated with the kidney. Sodium Ferric Pyrophosphate

ROCKWELL MEDICAL, INC.  Management

Rockwell continues to evaluate the viability of its FPC platform and FPC's potential to treat iron deficiency and iron deficiency anemia and for acute heart failure.

Rockwell's strategy is focused on growing the Company's revenue-generating business, which currently includes hemodialysis concentrates and international partnerships for TRIFERIC® and achieving profitability in 2024 to put the Company in a stronger and more stable financial position.

FPC for Home Infusion is Rockwell's follow-up to TRIFERIC® and utilizes the FPC platform in the home infusion setting.

Results of Operations for the Three Months Ended September 30, 2022 and 2021

The following table summarizes our operating results for the periods presented below (dollars in thousands):

For the Three Months Ended September 30,

Research and Product Development Expense

Results of Operations for the Nine Months Ended September 30, 2022 and 2021

The following table summarizes our operating results for the periods presented below (dollars in thousands):

For the Nine Months Ended September 30,

During the nine months ended September 30, 2022, our net sales were $53.5 million compared to net sales of $46.6 million during the nine months ended September 30, 2021. The increase of $6.9 million was primarily due to the restructuring of our supply contract with DaVita and increased pricing to other customers.

Research and Product Development Expense

As of September 30, 2022, we had approximately $27.6 million of cash, cash equivalents and investments available-for-sale, and working capital of $23.0 million. Net cash used in operating activities for the nine months ended September 30, 2022 was approximately $16.8 million.

Cash Used in Operating Activities

Cash Provided by (Used in) Investing Activities

Cash Provided by (Used in) Financing Activities

Contractual Obligations and Other Commitments

Critical Accounting Policies and Significant Judgments and Estimates

Recently issued and adopted accounting pronouncements:

ROCKWELL MEDICAL, INC.  Management

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