In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Cormedix Inc. (NYSEMKT:CRMD) reported that Elliott Associates, L.p. has picked up 1,976,027 of common stock as of 2017-05-03.
The acquisition brings the aggregate amount owned by Elliott Associates, L.p. to a total of 1,976,027 representing less than 3.3% stake in the company.
For those not familiar with the company, CorMedix Inc. is a commercial pharmaceutical and medical device company. The Company in-licenses, develops and commercializes prophylactic and therapeutic products for the prevention and treatment of infectious and inflammatory diseases. The Company has in-licensed the rights to develop and commercialize its product candidate, CRMD003 (Neutrolin), which addresses market opportunities in the instances in which a central venous catheter is used, such as hemodialysis, intensive care units, oncology, and patients receiving total parenteral nutrition, intravenous (IV) hydration, and/or IV medications. Neutrolin is an anti-infective solution for the prevention of catheter-related infections and thrombosis in the central venous catheter markets, such as dialysis, critical care and oncology. Neutrolin is a broad-spectrum antimicrobial/antifungal and anticoagulant combination that is active against common microbes, including antibiotic-resistant strains, and may prevent biofilm formation.
A glance at Cormedix Inc. (NYSEMKT:CRMD)’s key stats reveals a current market capitalization of 31.11 Million based on 56.62 Million shares outstanding and a price at last close of $0.586 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-03-30, Tellez picked up 1,950 at a purchase price of $1.66. This brings their total holding to 120,021 as of the date of the filing.
On the sell side, the most recent transaction saw Pfaffle unload 10,000 shares at a sale price of $2.00. This brings their total holding to 0.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Cormedix Inc. (NYSEMKT:CRMD) as things move forward to see if its progress aligns with these transactions.
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