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Wall Street Teacher (a pseudonym) worked on Wall Street for several years in the fixed income area and now teaches and writes on financial topics (primarily regulation and markets). Current interests include the psychology of financial markets, the origins of chemistry/physics, synthetic... More
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  • CorMedix Conference Call

    This one might be worth listening to. The company has an approved product for sale in EU and is currently in discussions with FDA for a U.S. trial. Product is both safe and efficacious. Sales tem in EU has big pharma experience and has expertise in the dialysis space. IP issue is cloudy in EU but recent ruling(Prosl patent) should strengthen CRMD's hand. Short term catalysts include organic sales , likely partnering outside of EU(Middle East or Asia) and announcements re: approval of U.S. trial design. Longer term IP issue could also provide significant upside as existing provider is likely infringing on IP (see CorMedix S-1 for details).

    Please note that this issuer is not followed on the Street and remains quite illiquid. That said, valuation is exceptionally low in light of approved product status and potential market size of indications(dialysis, oncology, etc. ) for same. This is also a natural fit for the big two in U.S. dialysis space(Fresenius, DaVita) Long here and quite, quite hopeful.

    CorMedix to Report Third Quarter Financial Results on November 19, 2013

    BRIDGEWATER, N.J., Nov. 15, 2013 /PRNewswire/ -- CorMedix Inc. (NYSE MKT: CRMD), a pharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of cardio-renal and infectious disease, today announced that the Company will report financial results for the third quarter ended September 30, 2013 after the close of trading on Tuesday, November 19, 2013. CorMedix has filed form 12b-25 with the U.S. Securities and Exchange Commission (the "SEC"), and as a result, the deadline for the Company to file its quarterly report on Form 10-Q with the SEC has been extended to November 19, 2013. CorMedix management will hold a conference call on Wednesday, November 20, 2013, at 9a.m. EST to discuss the results and provide an update on recent business developments. To access the call, please dial 1-866-866-1333 in the United States, and 1-404-260-1421 internationally. A live webcast of the conference call will also be available on the investor relations page of the Company's website at cormedix.com.

    Disclosure: I am long CRMD.

    Nov 19 9:46 AM | Link | Comment!
  • Cormedix Conference Call
    Tis one is a must listen to. I spoke with Company last night. New CFO is very capable.CorMedix Reports Second Quarter 2013 ResultsAlso Reports Board and Officer Appointments
    Company to Host Conference Call at 9:00 a.m. EDT, August 15, 2013


    PR NewswirePress Release: CorMedix Inc. - 13 hours ago

     

    • BRIDGEWATER, N.J., Aug. 14, 2013 /PRNewswire/ -- CorMedix Inc. ("CorMedix") (NYSE MKT: CRMD), a pharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of cardiorenal disease, announces its financial results for the second quarter ended June 30, 2013. With the receipt in July 2013 of the CE Mark for Neutrolin®, CorMedix is now focused on commercializing Neutrolin in the European Union and rest of world. CorMedix estimates the market potential for Neutrolin to be between $300 - 400 million.

    To help guide the company forward in this new commercial phase a number of management and board changes have been made including the appointment to the Board of Directors of Randy Milby, the company's CEO, the appointment of Gary A. Gelbfish as non-executive Chairman of the Board, the appointment of Dr. Antony E. Pfaffle as Vice-Chairman of the Board and Steven Lefkowitz as interim CFO. Richard Cohen, Executive Chairman of the Board and Chief Financial Officer, resigned from CorMedix to pursue his other business interests. "Rich has made significant contributions to CorMedix during his tenure as Executive Chairman of the Board, Acting CEO and CFO. He spearheaded the initiative to obtain the CE Mark and provided valuable leadership and guidance," said Randy Milby CEO. "I would like to express our appreciation and wish him success as he focuses his efforts on building Chord Advisors, his growing healthcare advisory business." The company believes that the above appointments will enable the company to advance on the commercial, financial, clinical and regulatory fronts.

    CorMedix is in the process of evaluating strategic partnerships and funding opportunities, with a focus on non-dilutive transactions.

    Planned Second Half 2013 Milestones:

    • Neutrolin sales in Germany
    • Strategic partnerships for the commercialization of Neutrolin
    • FDA pre-IND meeting for Neutrolin

    Financial Results for the Three and Six Months Ended June 30, 2013

    The net loss for the three months ended June 30, 2013 was $2.0 million, or $0.15 per diluted share, compared to a net loss of $0.6 million, or $0.05 per diluted share, for the second quarter of 2012. The increase in the net loss was attributable to increased interest expense of $0.7 million due to a non-cash beneficial conversion feature related to the senior convertible notes and warrants issued in September and November 2012, amortization of deferred financing fees and accrued interest related to the 2012 senior convertible notes; increased research and development ("R&D") of $0.2 million due to expenses related to the CE Mark approval process and launch for Neutrolin in the European Union as well as the non-cash value of the warrants issued to ND Partners, LLC as a result of the amendment to the License and Assignment Agreement with ND Partners, LLC; and general and administrative ("G&A") expenses of $0.5 million during the second quarter of 2013 compared to the second quarter of 2012, due to non-cash stock-based compensation expense and professional services and filing fees.

    The net loss for the six months ended June 30, 2013 was $3.2 million, or $0.28 per diluted share, compared to a net loss of $1.5 million, or $0.13 per diluted share, for the six months ended June 30, 2012. The increase in net loss was attributable to an increase of interest expense of $1.1 million comprised of a non-cash beneficial conversion feature related to the senior convertible notes and warrants issued in September and November 2012, amortization of deferred financing fees and accrued interest related to the 2012 senior convertible notes and an increase in G&A expenses of $0.6 million attributable to non-cash stock-based compensation expense and professional services and filing fees.

    At June 30, 2013, the Company's cash was $0.2 million, as compared to $0.8 million at December 31, 2012, a decrease attributed to the development of and preparation to launch Neutrolin and general working capital requirements.

    Second Half 2013 Financial Highlight

    In July 2013, CorMedix received net proceeds of $1.4 million upon the CE Mark approval from a financing of senior secured convertible notes in the aggregate principal amount of $1.5 million and warrants to purchase up to an aggregate of 1.0 million shares of the Company's common stock, and also received $0.5 million upon the sale of 454,546 shares of its Series B Non-Voting Convertible preferred stock and warrants to purchase up to 227,273 shares of the Company's common stock.

    Conference Call

    The conference call may be accessed on August 15, 2013 at 9 am ET by dialing 866-866-1333 for domestic callers and 404-260-1421 for international callers. Please specify to the operator that you would like to join the "CorMedix Second Quarter 2013 Financial Results Call." All participants who dial in will need to give the operator the following information:
    - First and Last Name
    - Company Name
    - Caller ID.

    Disclosure: I am long CRMD.

    Tags: CRMD
    Aug 15 8:55 AM | Link | Comment!
  • ZIOP Continues To Levitate

    Likely being helped by XON IPO. Word is stock is quite tight so shorts may be feeling a bit of a squeeze during the recent run. Fingers crossed.

    Disclosure: I am long ZIOP.

    Aug 12 3:02 PM | Link | Comment!
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  • CorMedix: Making Progress In Both EU Commercial And U.S. Regulatory Fronts $CRMD http://seekingalpha.com/a/19v93
    Apr 14, 2014
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    Dec 31, 2013
  • I'm betting Europe works out. That's bad for the $ but good for gold. I guess the Germans rule the continent without having to fire a shot!
    Jun 4, 2012
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