Rockwell Medical, Inc. (NASDAQ: RMTI ) shares are trading higher premarket on Tuesday after it entered into a product purchase agreement with a provider of dialysis products and services .
As per the three-year agreement, Rockwell Medical will supply its SteriLyte liquid bicarbonate product to the customer, with an option to renew it for two additional one-year terms.
The agreement is expected to generate over $10 million in net sales in the first year, a portion of which was not included in Rockwell Medical’s previously announced revenue estimates for 2025, with incremental price increases in subsequent years.
Last week, the company announced the promotion of Jesse Neri to the post of Chief Financial Officer .
This month, Rockwell Medical disclosed a partnership with HydroCare in which HydroCare will purchase and install Rockwell’s DAMX45 dry acid concentrate mix system in dialysis water rooms .
This installation is expected to drive new sales for Rockwell’s dry acid hemodialysis concentrates.
Also, last month, the company inked a distribution deal with Nephro Group Dialysis Centers .
Price Action : RMTI shares are up 14.4% at $2.29 premarket at the last check Tuesday.
Read Next :
Image via Shutterstock.
Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market.
Get the latest stock analysis from Benzinga?
This article Rockwell Medical Scores Multi-Year Dialysis Deal; Stock Jumps originally appeared on Benzinga.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.