CRMD - Earnings call transcript Q3 2024

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Operator

Good day, and welcome to the CorMedix Inc.

Third Quarter 2024 Financial Results Conference Call. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Dan Ferry of Lifesci Advisors.

Daniel Ferry

Thanks, operator. to Third welcome Conference XXXX and Call. morning, the Quarter CorMedix Earnings Good today Chief Joe CorMedix. the is Leading call Todisco, Executive of Officer He Dr. is joined by Kaufman, Chief Officer; Executive and Operations Chief Officer; David, Vice Mistry, and and Beth Matt EVP Erin and President Clinical Strategy Chief Officer. Hurlburt, Liz Zelnick Legal and EVP Commercial and CFO; EVP

in in call update greater charge CorMedix. statements. to does at uncertainties described of forward-looking these of investors with the from upon on or website or the actually by which which reliance SEC's historical known and other we undue CorMedix. Joe the place statements to due statements meaning statements, not Officer not management may goals goals call, begin, during these variety that statements, the future the free detail intend fact request Reform Litigation and are Todisco, I SEC, differ risks Before of these Securities achieve filings of beliefs, Actual a prospects are Executive except At within time, over important described CorMedix what position. on company's may Private should results pleasure it turn would my plans may as to to are this the Act everyone estimates these set regarding forward-looking available financial the These statements Chief like forth the law. required as than to expectations, remind XXXX. forward-looking materially and based is not plans including make are of in in CorMedix's now management's the statements CorMedix factors, and from the about projections and statements

Joseph Todisco

and Thanks, thank joining call. morning, Dan. everyone, you the Good for

and calendar results first launch far. thus As the efforts DefenCath, team's proud of our commercial approach the end with of pleased the I'm of incredibly year of we commercial

as DefenCath shipment of first full well marks quarter quarter the of third of outpatient first quarter product as The product utilization. the

consensus We job third net U.S. within with largely revenue the announced patients X exceptional operator, Our operators roughly to by with driven for XX% DefenCath our large-scale Renal, street will combined which midsized initial X customer, done customers quarter $XX.X and our with dialysis which an existing new access in has DefenCath U.S. implementation million and clinics. clinics its was of recently exceeded agreements of provide at the anchor dialysis

end partners and We new to to commence are expect of the diligently the agreements quarter. currently currently working with for purchases our those fourth X before operationalize all

and requires based by movement but in being weeks is patients this quarter. midsized for fourth-quarter establishing potential wide guidance, announced adopt customer protocols, allow on scale purchases can part, based criteria. scale our for take customer appropriate for newly and with are then the conversion not we the revenue a requires product, in are guidance training respect as by of is customers. to DefenCath The of rollout establish we in larger positive for pre-implementation a quarter at our having of variability our scale criteria upon patient in customer EBITDA to timing that customers revenue. implementing each X,XXX which customer DefenCath December, protocolized driven have well as fourth for goes clinics. While a to fourth by With LDO forecast, ordering on the level. the the The from direction revenue, do there purchases is conduct once case scale the our issued to fourth to quarter, LDO to protocolized months. impact our anywhere of expect downside manner sets current a couple quickly. be a the few those most expecting by And the begin effort they have protocols either much significant ramp live, on our for order system obviously of upside customer outpatient enterprise their from drug is an This meaning the material Currently, a a in to on move customer a we of that setup would and over weeks' this implementation several fairly LVO that expect we a is our

and in occurred our A those large and for required institutions. both and meetings scheduling third inpatient LDO terms financial clinical including and longer of we be be additional to in traditional For on the process inpatient expect meetings activities, fielding champions to more seen These across systems questions in to the our quarter, process we have within with decision. are in require consistent providing November. discussions launches health building With P&T committee and number we formal comparison new the comprehensive hospitals To significant rapid the outpatient side. system. uptake review of a extent, that progress P&T more launch P&T ramp begin stakeholders, orders we to customers, multiple in have expect information a of health collaboration with to and uptake made respect the the the we and within DefenCath inpatient

and see hospitals are review optimistic we early and some advocates. started added efforts XXXX DefenCath that build to to that a continue utilization of we formulary, in have field as handful in with progress our completed DefenCath to P&T We have on

and feasibility nutrition adult announced pathway now our received FDA And FDA received refining total to submitting and clinical proposed the clinical developments, second we studies. expanded the parenteral use goal catheter an market to we for XXXX of supportive of we half to feedback for first are to mid-November Focusing lock Heparin the it solution related clinical indication conducted our that Since align sales TPN FDA quarter The XXXX FDA Taurolidine and $XXX the study protocol TPN. plans feedback obtain potential clinical to and from extensive anticipate our on with in and approval research XXXX. accordingly, time frame, is by annual operationalize our million or in million. have for we company's peak estimate then, this to $XXX range in in the to in the of late be we to

progress the XXXX we cost and provide updates investors clinical From million anticipate move forward. years. to and will budget with $XX as the on with between study spanning a We standpoint, expense $XX we million, XXXX majority calendar of the

meaningful announced evidence will study with also During a additional earnings in we or cooperation to run our Care. we in expected XXXX data most clinical U.S. value previous the X that study the real-world partner, early our call, commence from The our is all initiatives, of standpoint frame. time Renal XXXX X

a Research patients infection a this utilize our enrollment mortality as spread commenced.Â Simultaneously, on This which and for be a Our we on metrics the hope real-world extremely evidence study TDAPA future use. will data CPN studies, population around to patient entities. care, a Pediatric value-based study over pediatric small antibiotic expect be such has this pediatric study intend challenge utilization in contracting the sustainable study outcomes years real-world post-marketing the protocol. with DefenCath in over an of the million for and XX Ultimately, time this hemodialysis. relatively care for study expect and under months be plans cost with would is protocols in than other our to adult final need other small given hospitalizations, of the a several ultra-vulnerable requirement and will personalized at evidence rates, of already concurrence by post a we year chair to FDA, $X roughly we these study Equity Data impact commencing to collection Medicare X,XXX FDA's to patient and for cost very multiple we less also as evaluate patients. lost Advantage and would patient period have generate This we be Act of reimbursement negotiate

peritonitis We we to to commence and plan over begin between and and access the XXXX, Matt? enrollment now supports exhausted and million that TPN the I program. patients are infection $X program for and other to The data expansion than call addition we populations, Matt have to CBC. $XXX,XXX not These TPN, product a distribution financial high-risk would patients to for significant comorbidities free utilizing the dialysis expanded have to cost program years.Â Lastly, neutropenic early methods cost $X patients is in mortality. and risk an plans of remain access be with costs, results like but at in expect million our company's that to to to to those other expect high-risk and study limited our and X pediatric for adult patient prevention the refractory spread further clinical including initiatives, third primarily the peritoneal we quarter in form generate expanded position. a unfortunately, less expected complements year, over and turn discuss financial label oncology

Matt David

read quarter XXXX. XXXX you for results, financial Joe, net today complete results. With morning, third I of revenue quarter more XXXX ended has of position. for third cash XX-Q urge results a financial as to financial on quarter am in our information update overview of pleased provide to on to and as here to The Thanks, XXXX well XX, report quarter to be discussion $XX.X filed CorMedix's Form third the for I the respect everyone. good contained our million. of amounted report September our the the our an company its an quarterly

the this As first full became Joe DefenCath since available this past commercially indicated, spring. marks quarter

expenses, previously $XX.X third expenses and of million the selling in expense our the of by organization driven in general or third XX% commercial component line million higher in The XXXX. support was third approval. profits approximately $X.XX net with of increased G&A for or sales the and million costs marketing was expense marketing DefenCath. The loss and as driven the in the loss Operating quarter On in of to increased of in loss sales offset XXXX with R&D.Â CorMedix smaller new was is personnel quarter $X.X to the compared versus compared in the $X.X $XX.X and R&D increase XXXX increased million expensed and reporting marketing of separate inclusive $X.XX and with XXXX. XXXX quarter compared with increases basis, in of in $X.X million, by to was to compared support R&D quarter launch net G&A apples-to-apples in primarily increase million to personnel, administrative of third by efforts to and of a XX% by quarter million $X.X expense marketing million G&A of XXXX approximately XX% a marketing recognized expense third commercial per selling now to increased $X.X gross The third with to an XXXX. expense XXXX. quarter and million was as selling of net launch decrease the associated as field expense and per XX% third Our expense prior expenses a share items. in share in XXXX in FDA $X.X the the selling by DefenCath. The well due quarter as for of certain $X.X DefenCath. the preparation related increase primarily driven approximately decreased activities approval of attributable the

in or of affairs prior to recognized to that of approval post-FDA R&D the related FDA medical certain result efforts operations, have marketing personnel approval supported selling DefenCath the expense. a costs been G&A commercial expenses and As and

year-to-date G&A revenue costs first XXXX, In million X $XX.X respect compared now months financial expense to with primarily of months the to net period to amounted result and new comparable DefenCath. compared months manufacturing cash the $XX.X of and million first capitalized expense in the We year-to-date XXXX increase and in September a months period R&D increased used increase Total of trade with in and XX% expenses of XXXX, the marketing an a operating and of XXXX XXX% $X.X receivables selling primarily expense with costs million XXXX the The of the approval of driven previously used of inventories, compared recorded increased net $XX.X cash year-to-date during to of cash million results, as were of the increase year-to-date $XX.X XXXX.Â The operations in driven of the marketing approximately the to amounted with are increase to our approximately XX% of $XX is by XX, recognized and The $XX.X increases XXXX. by in equivalents during in R&D of and by a approval. With DefenCath during months to the driven $XX.X million, million as of million commercial decreased accounts an support in of $XX of by same has X accrued net and operations offset in smaller X personnel FDA DefenCath. addition, XXXX payable. compared launch net XX% primarily XXXX. million. the cash total X to company expenses G&A portion months million X Selling X related in

for flow While to QX XX begin cash least equivalents, from from with net and cash we our the gives short-term in receivable proceeds operations company position at was ability supplemented to our million ATM cash expect to investments believe We the in months. our issuance. see projected collection cash, QX, approximately fund operating in accounts $XX.X future cash

trajectory initial achieve current back existing accounts believe we remarks. QX, the in EBITDA for to new positive of from will Joe during call to I now turn maintain our and Assuming shipments sales outpatient can closing quarter. fourth see the accounts we we Joe?

Joseph Todisco

stage Thanks, also focused the as CorMedix of on for I DefenCath. We're product support expand to beginning business expanding take to our ones. working executing CorMedix, growing our beyond actively everyone's DefenCath beyond as appreciate launch and of DefenCath to with opportunities happy customers continued the utilization well questions. expand commercial to business existing well Matt. hemodialysis label and for of is scout new on I'm and portfolio development

Operator

Jason first Citizens Butler Our JMP. from [Operator Instructions] question comes with

Jason Butler

you're institution it's How SOPs? outpatient me. population I Second before can a guess dynamics today, in seeing Advantage. launch? you're Can think to or for couple doctors extent the during driven Medicare setting, the seeing the you do centers use speak actually the you including -- trend dynamics and for product between the question, those to me, for compare And expenses just overall what split that then laid you operating broader quarter. the about Medicare speak for what you've the by already use lastly expenses, the fee-for-service to to being on decision what individual to out implementing Congrats XQ? versus reimbursement just

Joseph Todisco

appreciate questions. Thanks, Okay. I right. All Jason. the

view initial basis, putting as seen outpatient a they most place. being this on their rollout upside a positive. we've We So overall, to we been conversion of type in almost see product, is And right? we the but whom renal.Â So of initial as think systems criteria customer, I for that to I top-down same patient pattern, couple in we right? weeks rollout is within that the are in, what the So based move to ramp specifically setting.Â We it's driven with the of leading has don't patient-by-patient is with that fairly our respect extra script, approach a similar meaning protocolization the expect mentioned or more to entirely with what downside which They're quickly, saw doctor-specific see takes or much a setup with and The our follow expect the in of DefenCath protocols we centers expect on the establishing U.S. appropriate LDO as to then are a a implementing right? driven criteria.

your reimbursement, I Now just question understand. to on make want I sure

about what claims. asking in Is were that... we're seeing You actually

Jason Butler

seeing you that Are and roughly fee-for-service Med between Advantage? similar balance Exactly.

Joseph Todisco

data claims look, lags. Well, Yes.

rather into with is first, I in payers. initial our the seen expanding patients think, we've and So patients utilizing what customer or then other facilities rollout, right, fee-for-service use

commercial, seeing Advantage are are with filed being that claims with with Medicaid. we So Medicare

getting look third then DefenCath, in say, I'd though, patients believe fee-for-service Jason, that seeing, I of at the say, broad I'd of claims. your you aggregate patients starting are the outward.Â And of dispersion we are number first in expanding apologize. it's just and a terms So if I overall, question,

Jason Butler

should about expenses? think How you

Joseph Todisco

quarter. be for would to Matt? verify expect. below guided want in the for fourth Look, the Yes. the quarter is That's end were XX% we've range this quarter. to what year We correct, for the range fourth that think been somewhere think And the We've Matt. quarter, by I with XX% of range. to that I the I XX% that just XX% we'll to on I low

Matt David

begin Yes, I but probably to 'XX, XXXX. start people things We've see said to uptick it's really to to correct. that's R&D, related think we're to going

Joseph Todisco

Yes, not for QX.

Operator

Gregory comes The Renza with next question from RBC Capital.

Gregory Renza

Great progress. setup see the long for the on to Joe. the Congratulations term,

think Of the could pulls, remind course, pushes as nearer and just But stocking interest order Southeast-based it how about quarter we about always on the certainly just a just of frequency, certainly on the just there's how And you of to in the with or topic appreciate of just us some another and think term, sure maybe time, all uncertainties and that? DefenCath drivers. the would at related, fourth the comes quarter, facilities. given to anticipate for when holding facilities, focus items. the we When fourth and you're climate, hurricanes, the maybe the we few the

and any as sort getting of it DefenCath affects to drivers to facilities the macro patients? Just on

Joseph Todisco

are Thanks, Greg. Those good questions.

we customer extent, So And been the to seeing we're not for that initial shipping clinic. rolled stocking. to direct out, a that lot have we've of

I they're hand. days estimates holding getting about think we're the XX maybe on

some we onboard of that on hold stocking XX inventory XX they days LDO there'll do we days hand. As think to customer, may our be

traditional turnover a be of will of a, call maybe little it So more inventory. bit it, a

one impact, have down LDO For the clinics the new fourth lot a see customers little the our of through quarter, initial that did we Southeast bit and deployed there. customers of of are a

trend QX. the a but back we first exited little of had what to the when seeing largely bit the So we month, is saw over we week of we're disruption

as customers that new onboarding and well. on ramp to So trying we're focused now build

Gregory Renza

you the to you've you're sufficient And Great. demand? future and remind just manufacturing doing on quantities ensure us maybe the got just for what That's API, can helpful. just

Joseph Todisco

first, that say on part we decent through more on of inventory next Well, today part have us than than next to hand take first, year.Â Well, say I'd us a hand dose a dose more sufficient we through year. I'd that take decent inventory finished finished have today of to sufficient

we dosage of I ingredients, from think that both good a key purchase up. stockpiled a more inventory to standpoint, finished large of So XXXX to of a we're kind in and shore also our active amount to really We've in position. intend

finished X have as We well. dosage manufacturers

we have ROVI We Spain, Germany. in have and in Siegfried

Operator

Renshaw. [Audio from & comes Brandon Gap] with Rodman question next The Folkes

Brandon Folkes

Can you hear me?

Joseph Todisco

can, I Brandon.

Brandon Folkes

Okay.

Let that. first on congrats me foremost. Well, again. start the quarter, and about Apologies

questions me. X from Just

in to patient different types the that of where providers seeing that, identified at of operators variability, cross-sell consistency How use And terms initially the that across just sort side or they're providers other an DefenCath? seeing the expecting opportunity Firstly, perhaps DefenCath have other the types you of where terms in are patient perhaps are does with? DefenCath? providers, use midsized much providers will of you provide are if educate using on any the to

Joseph Todisco

Thanks, Brandon.

some on I Others kind it this look, institutions. of the are benefits triaging we've think basis first. think it looking verification. respective doing the a about talked And on their are So of couple that's their patients over last how at high-risk I customers based quarters they're that in certainly

opportunity the already that that risk. and we high growth, patients our know have is across certainly more how that high what right, initial whichever to have customers yes, it the don't of customers customers can think of next kind for your question discussions about beyond we're But I as identified with I all is So uniformly. are implement to opportunity cohort criteria triage an is absolutely much beyond in there's broadly that, some used. consistency And risk

Brandon Folkes

do should especially forward, contracts, quarter me, the then just full gross these How your about in secondly on if you of gross it's given first just this from here? margin of market? margin quarter think for then And about was in And bring going strong. as DefenCath extremely how we the directionally, think gross margin even sort Great. looked larger we

Joseph Todisco

going was margins to But a inventory gross we'd gross are the remain right?Â These approval. to that high. to margins as goods said, prior lot healthy mean some cost initial prior to batches were getting of expect gross think R&D, of of through the it's net I you're currently I the expensed price, relative that selling a manufactured that seeing, margin XXXX. them sold Look,

Operator

comes The Les from Truist question next Securities. with Sulewski

Leszek Sulewski

progress. Congrats on the

utilized then you centers you of to can patient count how I the usage? to second, at concentrated the DefenCath? do sort with of second rest capture get strategy then that is, you've is board? And to what Just access the you provided, question of dialysis a And metrics provide, out XQ, or on is that to XX% look to percentage pool? whether have was other any a a of patients what that the of is XX% it capture sense follow-up. vial And share? And part the within the those that And then do how operators them have that

Joseph Todisco

Okay.

information. currently I forward or of just comfortable metrics, putting data. Les, I unit our patient that out revisit we're quarter sales in putting we're out. what But to mean, numbers terms we whether think now, we any out we've comfortable I So as want third potentially certainly think out right can put go We put

access, total terms DefenCath to of where the is on in the relative clinics could in total right, of available, of number the U.S. that number right, clinics be the based measured potentially So XX%

dialysis XX% with seeing patients customer. what varies for indicated is overall. DefenCath CVCs, of which we're by about are patients First, And

already to which the I be about overall their Some broadly. population. that past, of said, more with them LDO are just about of roll The X,XXX customers in working looking initial patients It's catheterized we've much catheterized that their we're grow with percentage a beyond would talked as population. And higher cohort. customer, out to probably implementing certainly, XX% initial

potential XXXX as all customers. move opportunity a across think, of, is we amount SoÂ there I decent upside into

Obviously, took X.X been the them engaged about LDO,Â we've over at approach They is or years. of concentrated XX%. that asked remaining wait-and-see you one past the the with with launch. most a Now other

think dialysis compelling. into in trajectory the quarter some some that the generating early can We X they'll are not, next them progress X I providers fourth them reengaging And find in with the really data make in think year. top or the U.S. with comfortable. process additional If got that we now, a we're good We've with hopefully, very we of of

Leszek Sulewski

Got Very it. helpful.

portion this, I believe, can be That agreement. some believe had the And guess,Â when of a inpatient when out? amount you I been from will contribution has on of side? an I based your sort XX-Q. license paid triggered, Second What that the meaningful expect then we MD is and

Joseph Todisco

All right. Thanks.

I'll inpatient, more got right is Matt. So start of convert I'll over the patients if opportunity. MD so terms the then XX% outpatient certainly, inpatient, the Look, kick steeper it's look our ability with at you partners to volume ramp opportunity size And a of now, of quickly. the to much about the in

there. to see We and certainly more that we've as think see better time we last share that's price going we take to nature about there, of When material contribution, revenue the in revenue, as a the the durability longer long-term contributor. a X our going about it's just drive going the market. potential years. over at look inpatient inpatient value talked driving short potentially So build what's lot in certainly much But penetration a what's segment, of it to and to term. We

there. So a have view I long-term

MD on to the we're to making I trajectory with happy Partners? then inpatient for continue side, and side, do the building on we've relationships comment want you Matt, progress. outpatient very going on think plug away to and sales seen we're the

Matt David

I'll briefly. achieved. sales it probable that would milestones year, net determined real mention Earlier that the was company related Yes, problem. the be sure. this to No just this

And expenses XXXX. recorded X-month so result, license intangible were in balance met during in is asset, September as the we period included a sheet. the ended a accrued which XX, The consolidated milestones

see So year coming something probably to we is you over this be that paid. expect the would should

Operator

The Company. next & with Belanger Needham from question Serge comes

Serge Belanger

successful then Congrats just on it's And the around XQ questions the quarter. customer, a a process. Renal that A your I percentage what one, prioritization secondly, it had They've U.S. guess sales so been first like they partnership far. of couple sounds solid Care. of DefenCath anchor represent?

the this you if of operates this and whether curious partnership customer enlisted you've replicate partners third Just with differently the could over quarter? that other some

Joseph Todisco

Serge. Thanks,

might in So quarter of think percentage put of in receivables. I But we that's queue and And more so concentration duplicate think think LDO sales, than they've done job numbers particularly yes, certainly terms our other yes, XX%. for well some trying to trying customers. large an yes, around customers, be -- -- a accounted something U.S. with I third replicate of that with Renal incredibly there I to the how implementation, we're

So we're months. just executing and to couple next hopeful that, keep going we're for over of the

Serge Belanger

Maybe at the WAC one is follow-up. currently TDAPA reimbursed price.

it's early the to sometime in part transition XXXX. ASP think I to going of

will what whether impact curious Just transition that and look like it could ordering patterns?

Joseph Todisco

initially, from a think commodity. we've ASP we our is don't transition to something around This that right? known it's somewhat agreements patterns, WAC expected of to is this impact Serge. ASP. and drastically the ordering I So that's anticipated, structured And don't expect to erode

ASP government at late And I I early it's problematic. going publish think November QX. to December, understand point or will something be think for that's some in I don't

Operator

it of the Ferry session. the I concludes Q&A turn audio from portion written questions for over This audience. to now Dan the will

Dan Ferry

you, Thank operator.

questions written audience. the from we Joe, some have So

The sense company you possible to the guidance? first Do is provide guidance it for when providing why and investors have a isn't be one analysts may alike?

Joseph Todisco

Dan. Thanks, Okay.

I look, do I customer. fourth in purchasing there think LDO around customer So We've of And Think could numbers. there's little onboarding what a kind much it if on lot our XX, begin of timing of December variability in so a script about the a got touched bit. the it versus of for that they X quarter November versus variation XX December scale.

this in So point a range feel time. putting we out didn't at comfortable

we quarter, now, what we're, putting EBITDA through which see launch. incredible positive, once to we reevaluate can But repetition, the have I comfortable the see there. move think, X an expect first we out do decision that As comfortable think a I in we and be we're to of certainly what orders product accomplishment that guiding we're and is, right months X

Dan Ferry

Excellent. Joe. All right. Thanks,

company Could date? been to make the drove What TPN? here. one FDA you the bit a feedback to And on has Another amendments? expand protocol what

Joseph Todisco

in going our calculations, statistics essentially about I'm nothing We our that study. They moment. for protocol and statistical we're the comments, over provided the But Liz to excited timelines the around or put to TPN into opportunity. I think, going cost FDA. turn the that's change to but Yes. a some really

do ahead? go Liz, want So to you

Elizabeth Masson-Hurlburt

Thanks, Joe. Sure.

need and to we to in that a value protocol. wholly integrated always into the high be The designed minor a forthcoming. protocol new way. And received address approval and in translated provide protocol that into can is that's right? TPN in post line There's clinical the the pretty So it patient with critical we've clinical practice really of development, unmet on and amendment rigor a fine need meaningful exactly, nature statistical study feedback, absorbed population and a one of that integrated

think I now. confident I'm So

a have in we'll protocol biostats experienced place team in couple of clinical, resubmitting and needs, the amendment to We next meet and those regulatory deeply be weeks. that

Dan Ferry

Okay. Great. Thanks.

Another anything feedback product surprised Joe. launch? practice you nephrology that one has use from any there And you? here, the been share since there Can community in regarding and

Joseph Todisco

the there's to no anything there's surprising. if found I utilizing of think that Obviously, good things change about I know don't I some the right, workflow. DefenCath,

feedback Erin field are really results to basis. overall that is -- overall, the day-to-day and are I'll the positive. easy we be But positive think I Liz think the continues clinical get But to I a in and on understand.

add going I'm comments. to some want they allow if to So

Erin Mistry

Joe. Thanks,

nurses, from seen positive patient for standpoint, implementation think feedback physicians very an and from also advocates. the I -- we've

do and have involved across as being but On anything obviously setting. add complex prevention and the complexities takes have infection the want we and those quality seen played a Liz, are side, inpatient in community to role time, that? the crucial by well else guiding you you processes as to the disease infectious inpatient coordination

Elizabeth Masson-Hurlburt

No.

really covered infection need I we're educate out and I these number just mean of a and raise to surprised think are them are that I despite think learn is prevention number groups it. to all that continuing them. from and still of great happen, CRBSIs around there a awareness efforts to you continually and around of initiatives that there prevention a

have really we adopted is And within too. that got in that community So think DefenCath are it. solid that. have for to actively addressing our really stewards with I team clinician awareness working we've us and communities nursing plan further think and a I The institutions,

Dan Ferry

one you how thinking is going about here. thoughts give final on one some Can CorMedix forward? Joe, financing

Joseph Todisco

on about didn't touch calls. the in talked script, it I we've Yes. earnings think And Okay. past we in

the and getting flow But don't standpoint, quarter, in that are it we higher lot fund of an stock liquidity currently why the we want can't investors, last to in may trajectory to that market. find that right, The investors, raise of may from to long-only the do with little limited right, need in interest any type sense we future, cash do institutional think large want a consider of a we type and appreciation something a and made operational I the the did we in business. reasons from bit, see the on we volume inbound Over to use the people the the to ATM obviously, the may continue for with basis. the we that stock, business, the that,

We want don't a those powder business the also bit to at planned, start little road. imminently why anything, consider something might of for development. we we have up But building want reasons may but be down the I'd dry to looking would say,

Dan Ferry

Operator, Okay. now you the close may Great. Thanks, call. Joe.

Operator

attending and our has concludes you now This Thank session, today's for conference presentation. question-and-answer the concluded.

disconnect. may You now

CorMedix (CRMD) 30 Oct 242024 Q3 Earnings call transcript