| Market Capitalization (Millions $) |
742 |
| Shares
Outstanding (Millions) |
92 |
| Employees |
191 |
| Revenues (TTM) (Millions $) |
452 |
| Net Income (TTM) (Millions $) |
9 |
| Cash Flow (TTM) (Millions $) |
-77 |
| Capital Exp. (TTM) (Millions $) |
4 |
Business Description
Cormedix Inc is a publicly traded pharmaceutical company based in Berkeley Heights, New Jersey, USA. The company was founded in 2006 by Dr. Ira Marks, a physician and medical researcher with over 25 years of clinical and drug development experience. Cormedix is dedicated to developing and commercializing innovative products for the prevention and treatment of infectious and inflammatory diseases.
Cormedix's flagship product is Neutrolin, a catheter lock solution designed to prevent catheter-related bloodstream infections (CRBSIs) in hemodialysis patients. Neutrolin is a combination of three active ingredients: taurolidine, citrate, and heparin. Taurolidine is a broad-spectrum antimicrobial agent that kills bacteria, fungi, and viruses. Citrate is a potent anticoagulant that inhibits the formation of blood clots. Heparin is a common anticoagulant that prevents the formation of fibrin clots.
Neutrolin is currently undergoing phase 3 clinical trials in the USA and Europe. The results of the phase 2 trial were very positive, with a 70% reduction in CRBSIs compared to standard of care. The phase 3 trials are expected to be completed in 2021, and Cormedix plans to submit a new drug application (NDA) to the US Food and Drug Administration (FDA) shortly thereafter. Neutrolin has received fast-track designation from the FDA, meaning that it will receive expedited review and approval.
Cormedix has a strong pipeline of other potential products, including a combination product for the treatment of diabetic foot infections and a taurolidine-based nasal spray for the prevention of COVID-19. The company has also developed a proprietary technology platform called the Hampden system, which uses microfluidics to simulate human physiology and disease. The Hampden system allows for rapid and cost-effective preclinical testing of new drug candidates.
Cormedix has a talented and experienced management team, including CEO Khoso Baluch, CFO Richard M. Cohen, and CMO Nahar Zaidi. The company has a market capitalization of approximately $135 million and is listed on the NASDAQ exchange under the ticker symbol CRMD. Cormedix has partnerships with several leading academic and research institutions, including the University of Toronto, the Mayo Clinic, and the University of California, San Francisco. The company is well-positioned to deliver innovative solutions to major unmet medical needs.
Company Address: 389 Interpace Pkwy Parsippany 7054 NJ
Company Phone Number: 517-9500 Stock Exchange / Ticker: NASDAQ CRMD
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212.16 %