CorMedix Inc. (NYSEMKT: CRMD) is developing a product called Neutrolin that is aimed at the catheter-related bloodstream infections market. Work on Neutrolin is currently in Phase 3 stage. If you listen to the management, CorMedix is on track to hitting a number of important milestones in the ongoing Phase 3 study of Neutrolin.
A problem in dire need of solution
CorMedix Inc. (NYSEMKT: CRMD)’s Neutrolin could be the solution to the serious problem facing hospitals in the U.S. and globally. There is this problem called catheter-related bloodstream infections and CorMedix’s CEO Randy Milby talked about it at length during the company’s recent earnings call and it is one reason you should pay close attention to what’s happening around Neutrolin.
Get the picture
Catheter-related bloodstream infections occur in patients who have undergone central venous catheter (CVC) implantation. CEO Milby explained that CVC is a thin tube connects to a major blood vessel leading to the heart.
Patients who have been implanted with CVC or central line typically live with it for days and sometimes even months. However, the problem is that every time CVC implant is done on a patient, the patient is usually at risk of getting serious bloodstream infections.
If the patient receiving the CVC implant is already seriously ill, the bloodstream infections can be deadly. In the U.S. alone, dealing with catheter-related bloodstream infections costs the healthcare system not less than $6 billion each year.
That explains why preventing catheter-related bloodstream infection is a top priority for hospitals globally. You clearly see the pressure on hospitals to eliminate the infections when consider that they don’t get reimbursed if a patient they had treated is readmitted before 30 days elapse from the earlier admission. So as long as catheter-related bloodstream infections persist, hospitals are losing money.
Where is the answer for CorMedix Inc. (NYSEMKT: CRMD)?
According to CorMedix Inc. (NYSEMKT: CRMD), its Neutrolin is promising to be the answer to coping with catheter-related bloodstream infections that is already giving hospitals serious headache. The company needs to take the product through two Phase 3 studies before it seeks the nod of the FDA to introduce it on the market. It is already in the first Phase 3 program. If the studies succeed, Neutrolin should be a major source of revenue for CorMedix.