— Net sales fell by 7% year-over-year to $25 thousand versus $90 thousand expected.
— The company has begun the submission process of the New Drug Application (NDA) for Neutrolin for the prevention of catheter-related bloodstream infections in hemodialysis patients.
— The company believes it is on schedule for potential approval of the NDA for use in adult hemodialysis patients during the second half of 2020.
— CorMedix has been approved to transfer about $5.5 million of the total $6 million of its available tax benefits to an unrelated, profitable New Jersey corporation for about $5.2 million in net proceeds.
— Total cash on hand and short-term investments as of December 31, 2019, amounted to $28.3 million, excluding restricted cash of $0.2 million.
— The company believes it has sufficient resources to fund operations into the second quarter of 2021, including the submission of the NDA for Neutrolin and initial preparations for commercial launch.