Brean sees FDA rejecting Rockwell's Triferic

|About: Rockwell Medical, Inc. (RMTI)|By:, SA News Editor

Brean is out with a decisively negative note on Rockwell Medical (RMTI), calling Triferic "far from terrific."

Analyst Jonathan Aschoff doesn't mince words in initiating the shares at Sell: "We believe the FDA will reject Triferic due to poor clinical trial design and questionable efficacy."

"CRUISE had a questionable design that we view as unlikely to result in approval," Aschoff says, elaborating. "More than 80% of the patients in all CRUISE arms did not complete the 48-week treatment period, making the primary endpoint evaluation period highly variable."

Price target is $4, representing downside of more than 70% from Monday's close.

For more on the CRUISE trials, see here.

RMTI -7% premarket