Rockwell Medical Inc: Rises on license deal with South Korean firm

Jeil Pharmaceutical

10/09/2020 11:21

** Shares of biopharma company  RMTI.O  rise 23.6% to $1.5
in premarket trade; set for their best day in almost six months 
    ** Stock among top pct gainers across U.S. exchanges
    ** After markets closed on Wednesday, co said it had entered
into an exclusive license agreement with South Korean company
Jeil Pharmaceutical Co, for the rights to commercialize its iron
replacement drug, Triferic, in South Korea  urn:newsml:reuters.com:*:nGNXRDvX
    ** RMTI to receive an upfront payment and will be eligible
for milestone payments and royalties on net sales
    ** Under the agreement, Jeil will develop and commercialize
Triferic in South Korea
    ** Sales of the product are expected to begin in early 2022
- co
    ** Up to Wednesday's close, stock is down 50% YTD

 (Reporting by Dania Nadeem in Bengaluru)
 ((Dania.Nadeem@thomsonreuters.com; within U.S. +1 646 223 8780,
outside U.S. +91 80 6182 3463;))