Benzinga | Sep 23, 2020 03:01PM EDT

Why Rockwell Medical's Stock Is Trading Lower Today

Rockwell Medical (NASDAQ:RMTI) shares are trading lower on Wednesday after the company announced a $35 million registered direct offering price at the market.

Rockwell Medical is a US-based fully-integrated biopharmaceutical company targeting end-stage renal disease (ESRD) and chronic kidney disease with its products and services for the treatment of iron deficiency, and hemodialysis. The company's drug products are Triferic and Calcitriol.

Rockwell Medical shares were trading down 29.76% at $1.18 at the time of publication. The stock has a 52-week high of $3.85 and a 52-week low of $1.10.