Why Is CorMedix Stock Rising Today?

• According to the company, preliminary analysis of the data showed a 72% reduction in CRBSI and a 70% reduction in secondary hospitalizations. 
• The study was based on results from approximately 7,000 patients who received at least one dose of DefenCath in Year 1.
• The latest DefenCath results indicate meaningful risk reduction among some of the most vulnerable patients and significant cost reductions, the company said.

CorMedix Inc. (CRMD) stated on Thursday that its DefenCath, a catheter lock solution, had fewer catheter-related bloodstream infections (CRBSI) and secondary hospitalizations in adult dialysis patients as shown in its ongoing real-world interim study conducted in conjunction with U.S. Renal Care.

The use of DefenCath resulted in a 72% reduction in CRBSI and a 70% reduction in hospitalizations secondary to CRBSI in the preliminary analysis of interim data for approximately 7,000 patients who received at least one dose of DefenCath in Year 1, the company said.

Shares of CRMD were up over 2% on Thursday morning.

DefenCath Solutions

CorMedix said that it believes the latest results about DefenCath indicate a meaningful risk reduction among some of the most vulnerable patients. The biopharmaceutical company added that it would also significantly save costs for the healthcare community.

Centers for Medicare & Medicaid Services (CMS) spends more than $3 billion per year on costs associated with CRBSI, with the average CRBSI-related hospitalization estimated to cost between $63,000 and $110,000 per incident, approximately, the company said.

Joseph Todisco, CEO at CorMedix, said the interim results from the study will be used to support broader adoption of DefenCath and advance long-term reimbursement discussions, including with Medicare Advantage.

“Our organization is deeply committed to advancing innovative therapies for our patients, and we are encouraged by the reduction in both serious infections and hospitalizations demonstrated in these preliminary results,” said Geoffrey A. Block, Senior Vice President of Clinical Research and Medical Affairs at U.S. Renal Care.

How Did Stocktwits Users React?

On Stocktwits, the retail sentiment around CRMD jumped to ‘bullish’ from ‘bearish’ levels over the past day, and message volume changed to ‘normal’ from ‘low’ levels.

Shares of CRMD are up over 44% over the last year.

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