NEW YORK (TheStreet) --Shares of Rockwell Medical(RMTI) - Get Report are soaring by 25.23% to $8.14 in afternoon trading on Tuesday as the drug maker signed exclusive licensing and manufacturing supply agreements with Wanbang Biopharmaceutical, a subsidiary of Shanghai Fosun Pharmaceutical.
The agreements are for the rights to commercialize Rockwell's Triferic and Calcitriol drugs for patients with end-stage kidney disease.
Under the terms of the agreement, Wanbang will become the exclusive distributor for the two drugs in China for an initial commercial term of 10 years, according to the company.
"We are thrilled to establish this strategic partnership with Wanbang," Rockwell CEO Robert L. Chioini said in a statement today. "China has been a top priority in our global Triferic licensing strategy, and this agreement further validates Triferic's potential for becoming the world-wide standard of care in iron maintenance therapy for the treatment of anemia," he added.
Triferic treats anemia and Calcitriol is the company's generic treatment for secondary hyperparathyroidism in dialysis patients.
Wixom, MI-based Rockwell targets end-stage renal disease and chronic kidney disease with products and services for the treatment of iron deficiency, secondary hyperparathyroidism and hemodialysis.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C- on the stock.
The primary factors that have impacted its rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.
The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and revenue growth.
As a counter to these strengths, the team also finds weaknesses including weak operating cash flow, poor profit margins and a generally disappointing performance in the stock itself.
You can view the full analysis from the report here: RMTI
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.