- Earnings call transcript Q3 2022

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good morning and welcome to the CorMedix Inc. third quarter 2022 earnings conference call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require Operator assistance during the conference, please press star, zero on your telephone keypad.

conference recorded. this reminder, a is being As It Daniel Ferry my pleasure your host, to introduce from is now LifeSci Advisors. Thank you. you to and over

Daniel Ferry

Mistry, morning Operations, Matt call Mounts, and the of conference Good CorMedix, Dr. and SVP Chief to Phoebe quarter joined of and Vice welcome earnings by Head President is XXXX CFO, Dr. Executive CorMedix Officer Counsel call. Executive is of EVP, today third the Erin General he Technical Joe David, Todisco, Commercial. Leading and and

at results variety not detail current limited commercialization. development or charge latest turn the and regulatory other clinical NDA anticipated Actual interpretations cash plans or may of in goals Please DefenCath to spending to but request and market other note progress, or product statements clinical is a CorMedix product forward-looking available these place required except pleasure my company’s of position, but development Before I including upon these to the like as estimates greater the thereof, to manufacturing remind for as the approval at Officer regulatory other call, and of costs, the and DefenCath These does any include meaning including factors, capital possible plans statements approvals More Private these plans any company’s to limited related management nature future expectations, and future within SEC’s forward-looking over certain expectations not these XXXX. are website on ahead. known its go include risks to of beliefs, of law. of CorMedix. filing, Joe revenues the Chief other set should CorMedix’s candidates, Todisco, undue XX-Q candidates. now candidates, and management’s results, statements of statements update statements component than we projected the statements licensing, www.sec.gov development to are are our uncertainties are SEC, forward-looking investors and the projections Securities in raising, estimates which described development, achieve following: subject the historical as costs. statements, would and the specifically, timing, program, the the risks product as time, begin, of Act CorMedix differ with this everyone Litigation by fact Joe, to regarding intend actions, and projections commercial for our goals, potential to acceptance important or timing prospects, may from in position, business clinical to uncertainties forth materially of expectations, in may free during These call in filings make U.S. due described expectations statements and to forward-looking Reform or projections any the any costs, it and about or copies and not and and reliance product financial actually activities, not are that about as the what to not from plans At and market manufacturing statements. please future CorMedix. product transactions, Executive including

Joe Todisco

joining for Dan. and Thank this Good you us everyone on morning call. thank you

deficiencies actions possible be to June following as excellent as and approval. the a undertaking in quickly steps FDA to processes multiple the has as company the potential to on commercialization ready last as inspection, diligently to a make CMO well as fronts, FDA out they team, build for during progress implement continued the three working corrective of months, received our Over support all systems

at as addition disease for the key as timing, generated I months large pleased leader the to an cited re-submission detailed past more The data early around FDA IBM. actively inspection, by with CMO alternative a last efforts site provide undertaken the will of week, commercial and strategic stage and operations, are concerns Phoebe by awareness, am analysis well company health by our place update Nephrology the our as from three activities work While pre-launch retrospective to very multiple by approval address potential the and multiple to out specifics during regulatory of a CorMedix clinical supply these we resources and which that as during mobilizing systems in probability patients. pulled options took opinion engagement, Meeting, presented chain commercial secure Annual needed data standpoint, state exhibited customers doing Week. compliance to databases track of in highlighted claims final during creating with and abstract NDA systems are FDA From processes goal abstract and and XXXX, for building is engaged This kidney such is team education My discussions the to success. all increase the key re-submission. in we mitigate such risk DefenCath a Society American failure of and our Kidney

patients. Our significant associated infections, in or the and and CRBSIs highlighted catheter-related catheterized incident analysis mortality of with morbidity bloodstream hemodialysis

unmet in company to and a high the presence the intend attention CRBSIs conferences events, solution. need community, which be and broadens the bring severity of incidence we at hemodialysis a DefenCath medical can critical its for As to medical upcoming

vials we Federal $XX,XXX.XX. for call, NTAP the CMS published or past Center $X,XXX.XX we Services, last hospital for average technology announced increasing of limit the per longer based payment, Register announce The and and be upper would of Monday, the final stay to utilized. three DefenCath upon The calculated during X.X is to DefenCath. the in stay CMS Medicare an happy XXXX. three earnings DefenCath FDA per Federal CMS cost, of duration a X the reimbursement of that NTAP the to in revised calculation based approval of Medicaid NTAP by were This NTAP hospital of The net DefenCath dialysis to expected upon prior of vials revised published which from conditioned upon utilized as acquisition lock XX% catheter the average that wholesale is from July in of Register sessions. NTAP the also DefenCath a original were condition of NDA or CMS WAC or our happy for was product reimbursement During add-on is

mitigate should be company July working the NDA approval duplicate of CMS to of the the NTAP to as possible, company While a beyond attain of X their also CorMedix NDA July risk quickly X submission after is the announced application attain as delay approval recently to approval applicable XXXX. which would cut-off,

segment, last criteria application, to the potential not objective the the As price July met The XXXX. company smaller dollar should during company and for outpatient outpatient are in segment inpatient to obtain the changed, DefenCath an in expects to criteria have NTAP X remain value NDA criteria the and after due the to occur of eligible segment elasticity nature inpatient within segment. receive lumen outcomes NTAP successfully to incidence the in The is approval from comparison higher has of the though CRBSIs terms than volume, uptake. outcomes hospitals substantial lock not only but for infection NTAP catheterized combination a is and health high the the patient compelling an readmission with healthcare rates but financial systems. fallout reimbursement inpatient in facilities adverse justification and for and in meaningful provides adverse for coupled utilization recurring CRBSIs of XX of population incidence its for days. plagued incidence recurring high results in by not extremely The readmission high there and only readmission rate high rates hemodialysis The

of phase essential of upper to DefenCath the CMS’ a will driving our initial launch segment, [indiscernible] is value driver significant heavily on NTAP market the uptake. and inpatient market the As subsequent focus and for revision limit

inpatient While continue two-pronged our to take approach outpatient with to reimbursement, to NTAP a is specific reimbursement. respect we

our transitional remain renal soon committed TDAPA service FDA First, to adjustment, securing add-on the approval. allocated an practical drug to is or outpatient to as incremental bundle to by as clinics. payment efforts anticipated dialysis payment CMS our our we dialysis after TDAPA secure

health we products part drive the bundle as viable therefore with separately compelling an ultimately be J-code. utilize by there We incentivizes does fall operators statute services reimbursed dialysis be product outpatient utilization sole a clear, do separately better the of to TDAPA this are Phoebe? scope few as At pathway to at grant and reimbursement who DefenCath, under a over a and DefenCath TDAPA see While separate product a unique J-code, systems of patient be and on call is FDA six DefenCath that the for TDAPA not drug decision time, like we DefenCath the dialysis to and CMS the should within of working arguments Final or CMS, make betterment are to approval is will of a instances. diligently stakeholders from key an along provide months, required other to operators, able will next a such approximately I’d groups estimated affairs application with turn from both months unique these CMS advocacy application as to timing the the we regulatory formal manufacturing. any to discretion believe reimburse current for before outcomes. but as is unique the or these dialysis we in and over of to calculated and the update of believe reimbursement submit To J-code submission CMS. DefenCath decision to patient Phoebe, arguments of

Phoebe Mounts

Joe and everyone. morning good Thanks

application; are on CRL approved could the product-related heparin of new both discussed deficiencies be drug which deficiencies developing we CMO that in response we company filed or the risk, not the earnings received in API in noted the a compliance mitigate successful our NDA until NDA in issues As three CRL To re-submission. or complete and at August of alternative the NDA. form letter, its last stated present no for supplier the pathways remediation the however, call,

NDA. and on pathway API both at first the heparin the of supplier The filed compliance is the of CMO actions in based resolution

in subsequently previously observations The we the plan inspection facility to As and of have with corrective action issued a CMO. and dozen a June observations. FDA actions the XXX the the four preapproval two the of four individual included Form corrective part preventative developed more that a CMO’s on FDA address discussed, than CMO conducted

close corrective date that all is the CorMedix on by track the has CMO but the the this to has call, informed of of out middle item those and it As one December. of remaining of actions implemented

yet and the or the action OAI, CMO or in has action XXX completion. documentation as corrective While engaged on the with official has VAI, action indicated, it verifying FDA or classification of voluntary indicated, and not communicated reviewing

has of received manufacture encouraged the for letter June in equipment a the API pathway Class track the to review deficiencies represented The are on note as of resolved, process. is are at The by and previously, withhold existing the in resolution company new by FDA resolution by customary API API withhold to and approval the periodic final and in FDA’s heparin. approval supplier those assessments. resolved. manufacturer supplier because of new our be referencing in API with warning based be that both important this compliance the language contains securing we until actions We end supplier associated that be Also concerns that exercise of has fastest that concerns approvals to provided letter heparin submitted discussed filed of timely and has buildings XXXX. NDA. compliance letter a heparin hopeful updates a for to would NDA are unrelated applications commercialization. NDA active the with the for authority XX-day the their clock We remain no Should a FDA warning risk warning information completion CorMedix may January participation with It received it CMO supplier believe operations, the all X on new NDA re-submission to would on discretion of remains when to the is corrective

working compliance As contingency the the Joe concerns is linger the our that for of on at API or earlier, either in the plans company event mentioned diligently supplier. CMO chain supply

CMO the an our obstacle. compliance warning an supplier The remains in that letter obtains provides at API second clearance the pathway the alternative but event

obtain are CMO a validation new the heparin with by from the be of from March. CMO We March, source of for re-submit clearance data in our current with ready our the process CMO of manufacturing before an application beginning we API the manufacturing alternative expect at to API existing Should compliance supplier. to

would it six-month As with this X filing Class review incorporates data, manufacturing re-submission cycle. new be a a

March. existing clearance third to by re-submission is the The event NDA current neither compliance obtain the API pathway addresses able where to CMO our supplier or

to manufacturer API for Data DefenCath. Alchemy manufacturing ready of into have U.S.-based a Alchemy, quality heparin which Alchemy, also for the We a end partnership submission entered new would source, should a by site utilize aero as with be an alternate March. from

new with As involves Class X this it submission a of a data, review also six-month would submission be manufacturing clock. the NDA

timely remain I call work three at supplier, we with of would will both approval resolution turn DefenCath the the streams for update pursue CMO the existing hopeful our financial While company who now these Matt? multiple alternatives of a a XXXX. to concerns provide over API and to in a compliance to Matt, like provide quarter. NDA

Matt David

cash for in respect was or the financial net to of to Form our Phoebe. of approximately in or expenses related increased more by Thanks XXXX compared attributable update on overview by in per XXXX. operations costs a costs securities $X.X report in used potential mainly XX% the for research XXXX approval XXXX decrease activities net prior of to expense quarter higher in decrease of increase quarter XXXX, with in for declined be contained increase This XX-Q compared decrease offset of XXXX first of used and to third preparation first the results, million million increase of quarter related to XX% million increase cash consulting The and XX, net accrued results. its and nine here driven extent expenses year-to-date as company months third September the decrease company has taking a with months $X.XX $XX.X in to from program during net $X.X manufacturing SG&A I with recognized approval, payable R&D million, compared marketing on in R&D legal third discussion as driven of an cash third and of our nine of to an $XX.X the million position. by months XXXX, compared the share complete in launch million share personnel operating recorded of XX% million litigation for activities driven as pre-launch in of loss to million to by an X%. related in approximately XXXX. $X.X included a and increase our was through $X.X lower our DefenCath. $X.XX to the to commercial of the XX% DefenCath, of read a $XX.X potential filed R&D the you to expenses, increase versus net a studies the related fees approval, least $X.X in results, DefenCath. With of in decrease increased of We cash from costs of financial With third equivalents the CorMedix our of after and quarter operations pleased during today XXXX. the results, September manufacturing for cash has This consideration expense approximately raised and year-to-date $X.X provide to in SG&A primarily the approximately in quarter a compared financial of months the ATM $XX am by our to in Jersey of ended in primarily net loss position million clinical costs of to Operating marketing XXXX personnel accounts We $X.X potential a partially an flexibility unused well company XX, expenses. at gives year-to-date million to XXXX nine a million urge the into remains expenses difference marketing decreases related our expenses, third a of net driven preparation expenses its the approximately through the per believe $XX.X sheet market expense period. and by of net million by to XXXX. months amounted to The market XXXX in cash pre-launch with activities XXXX the I due XXXX. approval with DefenCath lesser NOLs. an its with loss in information quarter nine The XXXX expense $X approximately an months nine The loss as its and operations financial to XX% costs fees. DefenCath prior total approximately to $XX.X and marketing nine with and in SG&A was million compared balance third the $X.X to includes decreased New XXXX. fund in expenses. studies research an our during perspective. in cash first the increased and compared potential year-to-date related good costs million manufacturing a sale in trial potential quarter as million the quarter XXXX of expenses the respect equivalents third decrease net consulting to of well XXXX. the report

to prepared patients I following for us to DefenCath As future we Joe XXXX. approval call toward an an cash our closing our various Phoebe as for Joe? DefenCath current to remain allows be the the discussed optimistic and bringing anticipated financing well now turn execute over goals, approval. on equivalents FDA Joe We FDA believe have including will and remarks. as CorMedix to mechanisms its in about that to available back for today, progress

Joe Todisco

Matt. Thanks

objectives. key toward believe is strong on next months, a in company the to look I I its As execute few position our

potential well up approval by chain need medical disparity final can and, patient or our costs. XXXX. double pervasive great while to secure at patients, with of NDA during non-infected the three times stay healthcare bloodstream estimated place roughly unmet health equity times significantly strategy Catheter-related on approved year with CRBSIs an four versus system per of making on address shoring a CRBSI the FDA, if that $X.X as average our as is longer supply higher a impact incremental DefenCath also rate the our HD that critical has hospitalization hopefully having outcomes infections, heavy rate. an improve is to progress Hemodialysis a healthcare are the burden system. a We in the of U.S. and have on financial fatality billion patients duration commercial

under continued reduced Americans by demographic in undergoing to but CRBSI African the care. U.S. to clinical to patients XX% trials represent Thank Americans for in of our more need. XX% the your XX% of of at address occurrence order addition, standard population In extent, for To bloodstream other disproportionately groups. DefenCath this significant compared and you bring confident in than hemodialysis ability the in infection CorMedix. medical remain African to compared support existing are account of product in a that catheter-related interest patients for risk hemodialysis. I unmet the

Operator

and question Ladies first We instructions] question conducting the from session. have gentlemen, Please our be and will go Joon [Operator you. ahead. we answer now Truist Lee with our Thank line of Securities.

Assam

healthcare just you is specifically for [ph] think first targeting Good commercialization strategy, rate you. taking the across Was given settings if you could systems. the Assam questions. Thanks describe this morning, wondering of CRBSI different Thank variable type what about Joon. your for

Joe Todisco

Assam. Thanks

focus inpatient the getting guidelines mentioned and going a inpatient the - to have revision CMS’ and segment of individual our early initial pulling then clarity IDNs, we’re working in that going reimbursement product due getting the kind part to launch PDT got going to the of limit excited those prescribing hospital is the reimbursement, the launch. on it hospitals’ reimbursement, hospitals. the of our now on strong through really we’re part for the inpatient that at the we segment right is on in in focus The committee, the heavily where we’ve be focus to we utilization building upper very through around into be script, of on team formulary focused As of of the NTAP we’re about is

come do build to impact a reimbursement. going we that’s later our as we get That and clarity how outpatient on more will bit team. price the side, we out outpatient outpatient little the an how On have around do

Assam

when of Thank might you, or the and the classification Thank the find out FDA European VAI we you. then OAI? CMO,

Joe Todisco

what The go that. would she any informed the thinks. be one you I’ll that why be don’t ask We Phoebe give to directly, is informed not but you of would have. comment CMO that Phoebe, might and thoughts on ahead

Phoebe Mounts

been execution which its updates am Yes, the it’s very to of good asking, will not and and plan, providing up is unfortunately think is the by a the of in I outcome on them engaged CMO mind actions red are been very in that there underway, any the with with action the because FDA the by process, personally that through that question hopefully of quickly. so that. flags FDA engaging plan it good news, implementation in timeline coming communicate needs is have dialog corrective FDA no FDA on the corrective I a a message everyone’s statutory having with has action and the classification FDA important diligent corrective the has is

Assam

that’s Thank me. from you, all

Operator

you. Thank

JMP is ahead. Your Jason Please from next of Butler line question Securities. with go the

Jason Butler

questions, data, taking can awareness you on DefenCath the about the prescribers is level lot of can this that the the talk inpatient company appreciate of get providers. are The all morning. ensure awareness color work what outpatient that or DefenCath extended? perspective a for you your Hi, the and risk done with about formulary thanks of to Can you minimize and work education quite building has do approvals or the of that, talk on and

Joe Todisco

Jason. Thank you

doing had opens on key stakeholders medical it state more we What unmet I at call a that around that the are solution. need our educate present, could and door be for is that potential down DefenCath presence with the awareness, activities of, CRBSIs as engaging to about discussions as amount right large now talked pre-launch education disease - a in engaging We’re ASN.

are launch. was to the level, those to apologize. the IDN second level, the now, I conversations the towards as we’re up have at hospital at the continue and starting laying of Jason? we groundwork question, What build going We’re part

Jason Butler

Just can guess, any Is mitigate extended. we’ve do of to--you can pandemic approval timelines the that you ahead work there that that that? work approval through have formulary I been do heard know, to, you

Joe Todisco

I’m comment to momentarily the the to Erin initiatives; where meetings let on she’s ourselves payors, with engaging the and the with meeting going the focused conversations as mentioned largely Sure, a the these possible. now, in but stakeholders, through I minimized can with extent process timing position IDNs, that putting can--hopefully PNT committee be

We’re to that health IDN going activity by at each have work to your team IDN know, Erin, system, a on more is health health to want the different going process by bit some color system. go and and system has little each provide on? of through--you you right,

Erin Mistry

that to next rates, Yes, have focus think be high and said over I will inner of get a has system. systems, that of what specific to refined you continue key months. done very those of these high CRBSI been Sure, and the really segmentation types layer key the readmissions, need similar workings thanks it’s areas, to understand have the are that work that a patients, Joe. Joe around into lot those initiatives that couple hospitals to - have is of there The

in to we’ve with do with talk already mentioned, bit identify that campaign, Joe one ability these digital to of we next months, folks. and over a heavily started continue little them is different and We’ve and data. talked to couple QX so start as combination the several nuanced, to have the Just disease which more will each in to campaign so and really continue will the awareness

we come backs lot to and a as push wind through. out is that there initiatives have we’re get more lot We continue recently, to trying more at of a we’ve for inpatient the data that data, with and of our

this to of right, with PNT and hospital drive within piece component, economic systems. value members economic will the physician champions key so that is Another members, continue the discussion committee with we

Jason Butler

the questions. for Thanks taking helpful. that’s Great,

Operator

Thank you.

question next Needham from Belanger of go Your line with Please the & is Serge Co. ahead.

Serge Belanger

the questions. morning. good Hi, for Thanks taking

regulatory First one need NTAP was what’s then for issues, week this you the your got that Phoebe FDA three curious I outlined, the expectation across the Joe, secondly, and CMS re-inspection pathways for for on for the reimbursement news revising guess your different significantly just higher.

that to know hospital what stay in the think affect in the the hospitals then the how do usage average reimbursements guess what means are be of and opportunity of curious Thanks. I the Just the you great to it’d this in patients segment, and the product. would inpatient change

Joe Todisco

Phoebe, Serge. Thanks first right, All question? the want to re-inspection on you go do

Phoebe Mounts

developed documentation yes. agency remedied. executing progress not has FDA developing it or corrective only deficiencies on require have as that you Joe. Obviously is being very that discretion any deficiency strategy it corrective being actions imperative Thanks that actions. good inspection there effectiveness identifies. the whether Serge focus the reports progress and submitting appropriate to along to That that That’s you’re agency assess Absolutely, and the those corrective not thanks to convince on resolve of all the will onsite has an to a actions always are effective in It’s being the plan, agency. you make corrective that part clear been but to agency are of made, the provide the and actions the to that

but something are of option that’s the are what’s supplier the heparin API corrective FDA They obviously physical the We important the that do necessarily so if that to CMO onsite well, visit. inspection, the concerns, to in dialogue without of again in dialogue part as agency actions an the continues days needing and interactions have inspection, is evaluate remote timing on. these mean doesn’t to FDA other and the that can folks implementation an with FDA onsite that our hopeful a existing do does need engaging COVID very remind of

Joe Todisco

vials, some so days, of dialyzed--some are days, setting, is a a is up based the the closer we to came in patients likely the are inpatient hospital X.XX calculation patient three utilizing place, determination granted, just of with of expected was the believe a minimum NTAP, on took NTAP a weighted important the have or is the label the CMS chronic and chronic dialysis. XX original address three to what value we one week been stay the based daily, said, we’ve saw DefenCath maximum more, NTAP, if we revision were inpatient original The course our proposition to every in setting. minimum the The we facility the on hemodialysis. was average that being if days DefenCath actually we Serge, calculation for treatment patient an market. while in as do the vials the to so DefenCath CMS seven over think on in usage it we be for chronic the answer--to is the for in would means been data an with is every the a utilization Phoebe. had of in Thanks that made weeks, the approximately happy the minimum be for would question dialyzed $X,XXX. what and of That in seen NTAP three had some reimbursement theoretically incredibly for other part of hospital where The average a day, hospital the

so product, we Now important. three the healthcare $XX,XXX, institutions it have it’s the so to the weeks, reimbursed to be they’re there meaningful facilities a think to do utilize if to for opportunity is they very and the incentive

Operator

further any do Serge, you questions? have you. Thank

Serge Belanger

good, you. thank I’m

Operator

live have over turn Daniel and and and session, Ferry you. the Thank to like call to to end the I’d Ladies answer back questions. Dan, question for written the you. of reached gentlemen, we

Daniel Ferry

for a have you here Thank we few Operator. questions Joe, you. written

us question one, please this what be the that follow-up briefly, various but touched first the for I gives the you could, The approval through scenarios there XXXX? walk Phoebe you if would re-submitting may CorMedix NDA, know and see and on confidence in

Joe Todisco

Okay, thanks getting question I confidence in think first address to Dan. I our the actually want approval XXXX. terms of in for second

Type minor to delays review; we’re three To if but of a and pathways. observations that by at and mentioned the it it’s had submission, submission, step XXXX. on the around in we a CMO extent, status product-specific track get it March, We so that’s an what’s compliance understanding X deficiencies, created certainly could hopeful the review, Phoebe on is the we’ve guiding we’re a her believe to generating can if data, we’re Type here calculating and should we that in the end thoughts API there six-month be script, only why target of or and always received remaining XX-day not a CRL stability As be and approval are we timing in that re-submit facilities. the it’s the X so our be believe

review the submission clock. If also, the of in market, and a remains could we Phoebe both remains both of fastest of year, think path compliance the re-submission pathway a in API FDA three by facility. to next through said, quarter, are pathways XX-day and why as first the did first a good that job to to we in we a compliance walking those pursuing I CMO clearances of clearly be come really clearance with and fastest That’s X the those market. get--for do to re-submit Type the a position that events, quarter the

gives Type only to wanted a to that about with through talked would API manufacturing data, Alchemy, the re-submit still the CMO, API to data that under Now Phoebe the given our nor re-submit one the re-submission. re-submission, a instance existing Type compliance we’ve X out, we and we’ve if as from are a API Then the us first from CMO gain the ourselves remains ability warning API be pathway, new give but supplier believe able create gains data neither for site new we two CMO and third CMO API ability the us where an as new submission. and for to be but other it’s letter. would source, existing new be be ability clearance the so laid the agreement with that option we’ll X a the have the in our however pathways, flexibility would would quarter, This to opposed clearance as Alchemy site

Daniel Ferry

the Excellent, a forward the are next lines in of about well heparin Alchemy, the as playing as regulatory you Joe. role be question process? would The going Alchemy along as alternate thanks thinking supplier of how

Joe Todisco

so chain Alchemy approval, of going we for yes. or Okay, clear from sources to We them a hopefully of looking we’re partner supply. we of we sure two sure them terms or make of maintain do alternate about from as would one FDA as in in having utilize an or I key ongoing with API. supply whether as product we them materials, supplier the if well to is to part to and only not always, that ultimately chain long-term a actually our that regardless alternate manufacturer we’re as primary want gaining make utilize components be as heparin really talked at our our filing of gaining want third that we site, risk come key as supply our mitigate scenario,

Daniel Ferry

of approval More how in thinking excellent. given along balance the anticipated XXXX, company Okay, the sheet, the is about lines the financing?

Joe Todisco

and to on going in Matt let I’m comment Okay, jump cash.

Matt David

Dan. Sure, no problem. Thanks Joe, thanks

latest to As you position use program, from the to regarding can been of cash equivalents sure through forward. That of an good judicious this said, our eye a the capital see plans launch. initial and sufficient has we’re believe take we make has we us keeping the commercial with alternative sources of on always company CorMedix our and in just the that can so funds filing, execute on ATM our stages are

Daniel Ferry

CorMedix think the this we and investors, great. what story? Joe, missing Joe, investors question for lot The you last get do question a are Okay, from about

Joe Todisco

fully good and our I about a launch not around XX a is with started we’ve a or something and with to it investors, That had it’s I the realize but proposition Obviously this understood question. quarter shine value the over value on get to of is lot only strategy. most data, proposition. days, probably compelling inpatient is a talking I spotlight a started XX we’ve that two really ago conversations is last as do underappreciated think lot what and a well.

reimbursement share and is significantly even market the creates a or company that, and think I the for understood. is the gain think value, market the dollar though anticipated, lower NTAP driver the outpatient ability I value volume think multi-billion is of it’s drive to a through market and I reimbursement so of again, than higher side, than value that that’s that what the opportunity, that anyone our not appreciated had something fully significant

a I think will even initial and some to of company that updated value it investors. I that but is their our the phase and be launch, core yet think for the focus coverage forthcoming; in driver of include to of models, the appreciated better our this real it’s be needs hopefully has by

Daniel Ferry

Operator, you Thank Joe. the written concludes this this of question portion call.

the call. close now may You

Operator

this gentlemen, and conference. today’s Ladies you. concludes Thank

lines your at you disconnect your Thank may time. participation. for You this

CorMedix (CRMD) 10 Nov 222022 Q3 Earnings call transcript