CorMedix Inc. (NYSEAMERICAN: CRMD) has been an interesting stock to watch as of late. Recently, the company provided data with regard to its Neutrolin product, and there’s good reason to be excited here. Today, we’ll talk about:
- Why investors are excited about CRMD;
- what we’re seeing from the stock; and
- what we’ll be watching for ahead.
Why Investors Are Excited About CRMD
As mentioned above, CorMedix is having an incredibly strong start to the trading session today, following up on quite a bit of movement that we’ve seen in recent trading sessions. So, what’s the deal?
Well, it all starts with a product that the company is working down the development path. That product is known as Neutrolin, a catheter lock solution for hemodialysis patients.
Recently, CRMD released data surrounding the Phase 3 LOCK-IT-100 study, further validating earlier results. This has led to quite a bit of excitement surrounding the stock, and for good reason.
First and foremost, it’s important to note that the Phase 3 LOCK-IT-100 was terminated early. This wasn’t for safety or tolerability concerns or any other issues. No… the Independent Data Safety Monitoring Board ruled that the trial had met its primary endpoint early, and therefore, may be terminated early.
At that point, data were available from 653 patients within the study. However, the final efficacy data came from 795 patients. The new data released showed that the primary endpoint was indeed met and that there were no serious safety or tolerability concerns.
Moreover, it’s worth mentioning the market potential here. The truth of the matter is that catheters are known to lead to blood stream infections. Unfortunately, hemodialysis patients must continuously use catheters and are just about guaranteed to have an infection as a result over time. Considering the strong data, Neutrolin performed better at preventing these infections than the current standard of care. As a result, CRMD has a real opportunity to take the lion’s share of the market should Neutrolin be approved.
What We’re Seeing From The Stock
After the run caused by the strong data last week, the gains in CorMedix tappered down a bit. However, the excitement seems to be continuing as the stock shoots back up in the market today. As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (12:20), CRMD is trading at $2.15 per share after a gain of $2.15 per share after a gain of $0.17 per share or 8.59% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on CRMD. In particular, we’re interested in following the story surrounding the company’s continued work to bring Neutrolin to market as the product has the potential to become a blockbuster in the prevention of catheter-related infections. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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