CorMedix Inc. - CRMD STOCK NEWS

CorMedix welcomes significant CMS policy updates that will enhance hemodialysis patients' access to innovative therapies. Starting January 2025, CMMI's Kidney Care Choices model will exclude TDAPA payments from financial calculations, facilitating access to new drugs including DefenCath®. This change affects over 30% of ESRD patients in the US currently enrolled in KCC programs, removing financial barriers to innovative drug utilization and ensuring patient care choices aren't by cost considerations.

CorMedix (Nasdaq: CRMD) announced its participation in the Truist Securities BioPharma Symposium scheduled for November 7, 2024, in New York City. The event will feature one-on-one meetings at the Lotte New York Palace Hotel. CorMedix is focused on commercializing DefenCath®, their lead product approved by the FDA in November 2023. The company has already launched DefenCath in inpatient settings in April 2024 and expanded to outpatient settings in July 2024. They plan to further develop DefenCath as a catheter lock solution for additional patient populations.

CorMedix reported Q3 2024 financial results with net revenue of $11.5 million in its first full quarter of DefenCath sales. The company secured commercial agreements covering approximately 60% of US outpatient dialysis centers. Net loss decreased to $2.8 million ($0.05 per share) compared to $9.7 million ($0.17 per share) in Q3 2023. Operating expenses increased 34% to $14.1 million. Cash position stands at $46.0 million, which the company believes is sufficient for at least twelve months of operations. CorMedix is preparing to expand DefenCath indications beyond adult hemodialysis with several clinical initiatives planned for early 2025.

CorMedix presented new hospital admission and health economic data at ASN Kidney Week 2024, analyzing bloodstream infections (BSIs) in hemodialysis patients using central venous catheters. The study of 91,448 patients revealed that 25% were admitted with BSIs. Key findings showed median hospital stays of 16 days, with 53.8% requiring ICU care. The median total cost per admission was $157,000, with $65,000 for ICU care. The study reported 10.3% in-hospital mortality and 26.8% readmission rates within 90 days. Patient demographics showed 58.2% white, 27.1% black, with 47% from disadvantaged neighborhoods.

CorMedix Inc. (Nasdaq: CRMD) has announced a new commercial supply contract with a top-five mid-sized dialysis operator for DefenCath® (taurolidine and heparin) in the US. This agreement will provide DefenCath access to adult kidney failure patients receiving hemodialysis through a central venous catheter at over 200 outpatient dialysis clinics nationwide.

CorMedix received NDA approval for DefenCath on November 15, 2023, and began commercialization in the inpatient setting on April 15, 2024. Outpatient reimbursement from CMS took effect on July 1st, with shipments to outpatient facilities commencing in July. The company anticipates shipments under this new agreement to begin in Q4.

CEO Joseph Todisco stated that this agreement, combined with existing customer agreements, allows CorMedix to make DefenCath available to patients at approximately 60% of US outpatient dialysis centers.

CorMedix Inc. (Nasdaq: CRMD) has announced a new commercial supply contract with a top-tier mid-sized dialysis operator in the US for DefenCath® (taurolidine and heparin). This agreement will provide DefenCath access to adult kidney failure patients receiving hemodialysis through central venous catheters at over 250 outpatient dialysis clinics across the country.

CorMedix received NDA approval for DefenCath on November 15, 2023, and began commercialization in the inpatient setting on April 15, 2024. Outpatient reimbursement from CMS took effect on July 1st, with shipments to outpatient facilities commencing in July. The company anticipates shipments under this new agreement to begin in early Q4 2024.

CorMedix Inc. (Nasdaq: CRMD), a biopharmaceutical company, has announced its participation in the 2024 Cantor Global Healthcare Conference in New York, NY from September 17-19, 2024. The company's management will engage in a fireside chat on Thursday, September 19, 2024, at 10:55 AM EDT, along with one-on-one investor meetings.

The event provides an opportunity for CorMedix to showcase its focus on developing and commercializing therapeutic products for preventing and treating life-threatening conditions and diseases. Investors and interested parties can access a live webcast of the fireside chat through a provided link, with a replay available later on the company's website under the 'Events and Presentations' section.

CorMedix Inc. (Nasdaq: CRMD) has announced a multi-year commercial supply contract with a major global healthcare company for DefenCath® (taurolidine and heparin). The agreement targets up to 4,000 patients in over 2,000 US clinics. DefenCath, approved by the FDA on November 15, 2023, began commercialization in inpatient settings on April 15, 2024. Outpatient reimbursement from CMS took effect on July 1st, with shipments commencing in July. CorMedix expects shipments under this new agreement to start in Q4 2024. CEO Joseph Todisco expressed excitement about providing access to DefenCath for thousands of adult patients at risk for catheter-related bloodstream infections, building on recent progress with smaller customers.

CorMedix Inc. (NASDAQ: CRMD) reported Q2 and H1 2024 financial results and provided a business update. Key highlights include:

- Initial net sales of $0.8 million for Q2 2024, primarily from inpatient trade stocking

- Unaudited Q3 quarter-to-date net sales of $5.2 million as of August 13th, driven by outpatient setting orders

- Cash and short-term investments of $45.6 million as of June 30, 2024

- Net loss of $14.2 million ($0.25 per share) for Q2 2024, compared to $11.3 million ($0.25 per share) in Q2 2023

- Operating expenses increased 32% to $15.6 million in Q2 2024

- Company believes it has sufficient resources to fund operations for at least 12 months