WIXOM, Mich., Jan. 5 /PRNewswire-FirstCall/ -- Rockwell Medical Technologies, Inc. , a leading, innovative manufacturer and developer of concentrates and specialty pharmaceuticals focused on the end- stage-renal-disease market (ESRD), reported today that it will be listed on the Nasdaq Global Market. The Company reported that its Nasdaq Global Market application was accepted on December 29, 2006 Rockwell shares will continue to be traded under the same ticker symbol, RMTI, on the Global Market with the opening of trading on Friday, January 5, 2007. Rockwell Medical has been trading on the Nasdaq Capital Market since 1996 and currently has a market capitalization of approximately $82 million, based on its closings share price of $7.11 on January 3, 2007, with approximately 11.5 million shares outstanding and over 3,000 shareholders.
"The Nasdaq Global Market sets higher requirements of stockholders' equity, net income and market value," said Mr. Robert L. Chioini, Chairman, CEO and President of Rockwell. "Qualifying for the Nasdaq Global Market reflects our ongoing commitment to maximize Rockwell's shareholder value. We believe this move to the Global Market will increase our visibility and credibility in the institutional marketplace and increase the attractiveness of Rockwell shares to potential new investors. We remain excited about our market position and growth prospects which we are confident will generate additional exposure for the company, enabling Rockwell shareholders to benefit from increased liquidity and trading efficiency that the Nasdaq Global Market offers."
About Nasdaq Global Market
The Nasdaq Global Market consists of over 1,450 companies that have applied for listing, having met and continued to meet stringent financial and liquidity requirement and agreed to meet specific corporate governance standards. Formerly called The Nasdaq National Market, this market was renamed in 2006 to reflect the global leadership and international reach of this marker and the companies whose securities are listed here. For more information on the requirements to be included on the Nasdaq Global Market, please refer to this link http://www.nasdaq.com/about/nasdaq_listing_req_fees.pdf
About Rockwell Medical
Rockwell Medical Technologies, Inc. is a leading, innovative manufacturer and developer of concentrates and specialty pharmaceuticals focused on improving the quality of care for dialysis patients. Dialysis is a process that duplicates kidney function for those patients whose kidneys have failed to work properly and who suffer from chronic kidney failure, a condition also known as end-stage-renal-disease (ESRD). There are an estimated 350,000 dialysis patients in the United States and the incidence of ESRD has increased approximately 6% on average each year over the last decade. Rockwell manufactures, markets and delivers high-quality dialysis solutions, powders and ancillary products that are used to cleanse the ESRD patient's blood and replace nutrients in the bloodstream. Rockwell's proprietary formulations for iron-delivery and vitamin/carnitine-delivery, utilizing its dialysate as the delivery mechanism, are designed to provide replacement therapy with unprecedented patient safety and efficacy while eliminating nursing time and supply cost. Rockwell offers the proprietary Dri-Sate(R) Dry Acid Concentrate Mixing System, RenalPure(R) Liquid Acid Concentrate, SteriLyte(R) Liquid Bicarbonate Concentrate, RenalPure(R) Powder Bicarbonate Concentrate, Blood Tubing Sets, Fistula Needles and a wide range of ancillary dialysis items. Visit Rockwell's website at www.rockwellmed.com for more information.
Certain statements in this press release including statements regarding increased liquidity, growth potential for the Company's products and potential to achieve regulatory approval of the Company's proprietary iron therapy drug product constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect management's expectations and are based upon currently available information. Management of Rockwell believes the expectations reflected in the forward-looking statements made in this press release are based upon reasonable assumptions. However, certain factors could occur that might cause actual results to vary. These include, but are not limited to, general economic conditions, economic conditions in the hemodialysis industry, modified regulatory requirements, competitive factors, and other factors discussed in Rockwell's reports filed with the Securities and Exchange Commission. The forward-looking statements should be considered in light of these risks and uncertainties.
Rockwell Medical Technologies, Inc.CONTACT: Ron Aubrey, Investor Relations, +1-866-565-6139, or Thomas Klema,+1-248-960-9009, both of Rockwell Medical Technologies, Inc.
Web site: http://rockwellmed.com/
