With shares of Rockwell Medical (RMTI) down 50% YTD, and with short interest down to 8% of float, I believe that the short thesis has finally lost its footing. Rockwell has bounced somewhat from its low of $3.16 on March 20th, but is well off the 52-week high of $10.70 in June of 2012. This discounted price offers investors a low entry point going into the release of Phase III data expected next month.
Rockwell is a biopharmaceutical company focusing on products for patients on dialysis, especially those patients with end-stage renal disease (ESRD), chronic kidney disease, and iron deficiency anemia. The company already has a $50 million per year business selling dialysis products, and currently has an...
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