CorMedix reports Q3 EPS (17c), consensus (21c)

Reports Total cash on hand and short-term investments as of September 30 was $86.6M, excluding restricted cash of $0.2M. The Company believes that, based on the Company’s cash resources at September 30 it has sufficient resources to fund operations at least twelve months from the filing of its Quarterly Report on Form 10-Q for the quarter ended September 30 .The United States Patent and Trademark Office USPTO issued a patent with claims directed to the composition of a catheter lock solution for preventing infection and reduced blood flow in central venous catheters. This Patent reflects the unique and proprietary nature of DefenCath , and will extend the Company’s intellectual property protection with an expiration date of April 15, 2042. Cash and short-term investments, excluding restricted cash, at September 30 amounted to $86.6 M. Joe Todisco, CorMedix CEO, commented, “I am very pleased with the Company’s progress on all fronts, most notably the outcomes of the preapproval inspections at our primary CMO facility and other key vendors, as well as our preparations toward commercial readiness. We have accelerated multiple work streams aimed at commercial launch, and made a number of key hires over the past quarter that are essential to ensuring a successful commercial launch following a potential FDA approval of DefenCath. We look forward to providing additional updates over the coming days as we anticipate a response from FDA on or around our target action date.”