CorMedix Stock Trends After New Commercial Agreement With Dialysis Operator: Retail Spirit Stays ‘Bullish’

Shares of CorMedix, Inc. (CRMD), a pharmaceutical and medical device company, were among the top 10 trending tickers on Stocktwits Wednesday morning.

On Tuesday, CorMedix announced a new commercial supply contract with a mid-sized dialysis operator to supply DefenCath to dialysis clinics across the U.S.

This agreement will make DefenCath available to adult patients with kidney failure who are receiving hemodialysis through a central venous catheter (CVC) at more than 200 outpatient dialysis clinics nationwide.

“This new agreement, alongside our existing customer contracts, enables CorMedix to provide DefenCath to patients in approximately 60% of outpatient dialysis centers in the U.S.,” said CorMedix CEO Joseph Todisco.

Following the announcement, message volume for CRMD on Stocktwits surged by 111% on Tuesday.

On Wednesday, retail sentiment remained in the ‘bullish’ (62/100) zone for CRMD even as the stock fell slightly.

The company serves over 2,000 clinics across the United States and aims to initially target the use of DefenCath in up to 4,000 patients, prioritized based on medical need.

DefenCath, CorMedix’s first commercial product, is an antimicrobial drug designed to reduce catheter-related bloodstream infections in patients with kidney disease. It received FDA approval last year.

CRMD stock has risen over 150% year-to-date.

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