* Says drug meets safety goal
* Shares down 14 pct after market
Feb 25 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
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