CorMedix announces commercial, reimbursement updates

CorMedix announced updates related to its business and anticipated launch of DefenCath. Recent Updates: On January 25, 2024 the Center for Medicare & Medicaid Services notified CorMedix that the agency has determined DefenCath will be eligible for reimbursement in accordance with the ESRD PPS. As such, CorMedix is entitled to submit an application for a Transitional Drug Add-On Payment which currently allows for five years of additional payment reimbursement to outpatient providers. As a result of CMS’ determination that DefenCath is within the scope of the ESRD PPS and eligible for TDAPA, CorMedix has established its list price of $249.99 per 3ml vial, to account for the market dynamics and functionality of the TDAPA framework. CorMedix previously applied for and received a New Technology Add-On Payment from CMS for inpatient reimbursement of DefenCath. CorMedix reiterates its previously disclosed launch guidance of April 15, 2024 for inpatient commercialization, and a target of July 1, 2024 for the commencement of outpatient commercialization.