NEW YORK (AP) -- Shares of Rockwell Medical rose Wednesday after the company said it will present clinical trial data for its experimental anemia drug Triferic at a medical conference in November.
THE SPARK: Rockwell Medical said it will disclose additional data from a study of Triferic at an American Society of Nephrology. The conference will be held in Atlanta from Nov. 7 to 10. The company previously disclosed that it will be showcased at the conference's "Innovators Place."
THE BIG PICTURE: Triferic is a treatment for anemia in patients with late-stage kidney disease. It is designed to travel directly to the bone marrow, avoiding damage to the liver. Rockwell says small, frequent doses of soluble ferric pyrophosphate could be safer and more effective than the standard treatment, which involves large doses of intravenous iron.
Rockwell Medical Inc. has been developing the drug under the chemical name soluble ferric pyrophosphate, or SFP.
The Wixom, Mich., company said the drug succeeded in separate late-stage clinical studies in July and September.
Rockwell Medical reported $13 million in sales in the second quarter, but analysts see Triferic as a drug that could become a top treatment for anemia.
THE ANALYSIS: In a telephone interview, Stifel Nicolaus analyst Annabel Samimy said the conference will allow Rockwell Medical to tell more physicians about Triferic and what the drug can do, and it will also let investors see more data about Triferic.
Samimy said annual sales of Triferic could reach $200 million a year.
SHARE ACTION: Rockwell Medical stock picked up 67 cents, or 5.9 percent, to $12.11 in afternoon trading. The shares have tripled in value since July 10, when the company reported the first results from late-stage testing of Triferic.