CorMedix Inc. Announces New Data at ASN Kidney Week 2024

Rhea-AI Summary

CorMedix presented new hospital admission and health economic data at ASN Kidney Week 2024, analyzing bloodstream infections (BSIs) in hemodialysis patients using central venous catheters. The study of 91,448 patients revealed that 25% were admitted with BSIs. Key findings showed median hospital stays of 16 days, with 53.8% requiring ICU care. The median total cost per admission was $157,000, with $65,000 for ICU care. The study reported 10.3% in-hospital mortality and 26.8% readmission rates within 90 days. Patient demographics showed 58.2% white, 27.1% black, with 47% from disadvantaged neighborhoods.

Positive

• Study provides comprehensive data supporting the market need for CRMD's infection prevention products
• Large market opportunity demonstrated by high treatment costs ($157,000 per admission)
• High readmission rate (26.8%) indicates potential for recurring revenue

Negative

• No direct revenue or product-related announcements
• Study highlights challenges in target market with high mortality rates (10.3%)

Study highlights significant healthcare challenges and costs associated with bloodstream infections (BSIs) in patients receiving chronic hemodialysis through central venous catheters (HD-CVCs)

BERKELEY HEIGHTS, N.J., Oct. 24, 2024 (GLOBE NEWSWIRE) -- CorMedix Inc. (Nasdaq: CRMD), a biopharmaceutical company focused on developing therapeutic products for life-threatening diseases and conditions, today announced new hospital admission and health economic data presented at the American Society of Nephrology Kidney Week 2024 in San Diego, CA from October 24 - 27.

This retrospective analysis, using data from the Premier Healthcare Database, evaluated hospital admissions from 2020 to 2022 to examine the demographics, clinical characteristics, and outcomes of adult HD-CVC patients hospitalized for bloodstream infections (BSIs). Among the 91,448 unique patients admitted, 25% (N=22,902) presented with a BSI. Key findings include:

• Patient Demographics: The patient population was 58.2% white, 27.1% black, and 56.6% male, with 59.3% aged 60 years or older. A substantial number of patients lived in vulnerable communities, with 47% residing in the most socioeconomically disadvantaged quartile of neighborhoods nationwide.
  
• Hospitalization Outcomes: The median length of stay for BSI-related hospitalizations was 16 days, with 53.8% of admissions involving time in the ICU (median stay: 8 days). The study reported an all-cause in-hospital mortality rate of 10.3%.
  
• Comorbidities: Patients had extensive comorbidities, with 87.8% having three or more Charlson comorbidity conditions, and 42.6% had six or more.
  
• Economic Impact: The median total cost of admission was $157,000, with $65,000 attributed to ICU care alone. Healthcare utilization, including readmissions (26.8% within 90 days), placed a significant financial burden resulting from these infections.
  

"This study underscores the critical need for improved prevention strategies and interventions in the management of catheter-related bloodstream infections (CRBSIs) among hemodialysis patients," says CorMedix CEO, Joseph Todisco. "With one in four patients admitted for a bloodstream infection and a 10% in-hospital mortality, along with median hospitalization costs of $157,000, reducing both the incidence and financial impact of these infections is critical."

This poster presentation will be made available on the Company’s website at www.cormedix.com/publications-and-presentations.

About CorMedix
CorMedix Inc. is a biopharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of life-threatening conditions and diseases. The Company is focused on commercializing its lead product DefenCath^® (taurolidine and heparin), which was approved by the FDA on November 15, 2023. CorMedix commercially launched DefenCath in inpatient settings in April 2024 and in outpatient settings in July 2024. CorMedix also intends to develop DefenCath as a catheter lock solution for use in other patient populations. For more information visit: www.cormedix.com.

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are subject to risks and uncertainties. Forward-looking statements are often identified by the use of words such as, but not limited to, “anticipate,” “believe,” “can,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “will,” “plan,” “project,” “seek,” “should,” “target,” “will,” “would,” and similar expressions or variations intended to identify forward-looking statements. All statements, other than statements of historical facts, regarding management’s expectations, beliefs, goals, plans or CorMedix’s prospects should be considered forward-looking statements. Readers are cautioned that actual results may differ materially from projections or estimates due to a variety of important factors, and readers are directed to the Risk Factors identified in CorMedix’s filings with the SEC, including its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q, copies of which are available free of charge at the SEC’s website at www.sec.gov or upon request from CorMedix. CorMedix may not actually achieve the goals or plans described in its forward-looking statements, and such forward-looking statements speak only as of the date of this press release. Investors should not place undue reliance on these statements. CorMedix assumes no obligation and does not intend to update these forward-looking statements, except as required by law. 

Investor Contact:
Dan Ferry
Managing Director
LifeSci Advisors
daniel@lifesciadvisors.com
(617) 430-7576 

FAQ

What were the key findings of CorMedix's study presented at ASN Kidney Week 2024?

The study found that 25% of hemodialysis patients were admitted with bloodstream infections, with median hospital stays of 16 days and costs of $157,000 per admission. The in-hospital mortality rate was 10.3%, with 26.8% readmission within 90 days.

What is the economic impact of bloodstream infections in hemodialysis patients according to CRMD's study?

The study showed median total admission costs of $157,000 per patient, with $65,000 attributed to ICU care alone, plus significant additional costs from high readmission rates (26.8% within 90 days).

What patient demographics were revealed in CorMedix's 2024 ASN study?

The study showed that patients were 58.2% white, 27.1% black, and 56.6% male, with 59.3% aged 60 or older. 47% lived in socioeconomically disadvantaged neighborhoods.