UPDATE 1-Rockwell Medical anemia drug fails efficacy goal

Thu Feb 25, 2010 6:21pm EST

* Says drug meets safety goal

* Shares down 14 pct after market

Feb 25 (Reuters) - Biopharmaceutical company Rockwell Medical (RMTI.O) said its experimental drug to treat iron deficiency anemia in chronic hemodialysis patients failed to meet one of the main goals in a mid-stage study, sending its shares down 14 percent after the bell.

The company said its drug soluble ferric pyrophosphate (SFP) failed to meet the main efficacy goal due to the study design, but met the other primary safety endpoint.

The drug failed to show a decrease in hemoglobin of at least 1.0 g/d.

The study, however, met its objective of determining the dosing of SFP for the planned late-stage trials, the company said.

Rockwell Medical said the drug was well tolerated across the dose range studied, without evidence of toxicity.

Shares of the company were down $1.18 to $6.96 in after-market trade. They closed at $8.14 Thursday on Nasdaq. (Reporting by Anand Basu in Bangalore; Editing by Unnikrishnan Nair)

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