CorMedix (NYSE Amex: CRMD) - Second Quarter Summary

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Cormedix (AMEX: CRMD) released their second quarter earnings on August 12, 2010. With their IPO in March 2010, this was the first full quarter of reporting by Cormedix. Some highlights include:

• CorMedix had cash and cash equivalents of $10.6 million, and CorMedix believes its currently available cash and cash equivalents will be "sufficient to meet its planned clinical development and operating requirements through the end of the first quarter of 2012."
• As written by Doug Landy, CRMD "dosed" the first patient in Phase II Clinical Trial of CRMD001.
• The increase in R&D expense was attributable to clinical development costs associated with CorMedix’s Phase II clinical trial of CRMD001 (a proprietary formulation of deferiprone), which commenced in June 2010, and higher manufacturing costs for CRMD003 (Neutrolin®) in connection with CorMedix’s preparation for an Investigational Device Exemption submission by the end of 2010.
• Cormedix was added to Russell Microcap^® Index
• An additional US Patent was issued for Neutrolin^® (CRMD003) to Prevent Catheter Related Bloodstream Infections (“CRBI”) and Clotting in Hemodialysis Catheter.

CRMD Press Release - 2nd Quarter Results