CRMD ALERT

Investors With Substantial Losses Have Opportunity to Lead the CorMedix Inc. Class Action Lawsuit

Robbins Geller Rudman & Dowd LLP announces that purchasers of CorMedix Inc. (NASDAQ: CRMD) securities between July 8, 2020 and May 13, 2021, inclusive (“Class Period”) have until September 20, 2021 to seek appointment as lead plaintiff in the CorMedix class action lawsuit. The CorMedix class action lawsuit charges CorMedix and certain of its top executives with violations of the Securities Exchange Act of 1934. The CorMedix class action lawsuit was commenced on July 22, 2021 in the District of New Jersey and is captioned Patrick v. CorMedix Inc., No. 21-cv-14020.

If you wish to serve as lead plaintiff of the CorMedix class action lawsuit, please provide your information by clicking here. You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at [e-mail]. Lead plaintiff motions for the CorMedix class action lawsuit must be filed with the court no later than September 20, 2021.

CASE ALLEGATIONS: The CorMedix class action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (i) deficiencies existed with respect to CorMedix’s lead product candidate DefenCath’s manufacturing process and/or at the facility responsible for manufacturing DefenCath; (ii) in light of the foregoing deficiencies, the U.S. Food and Drug Administration (“FDA”) was unlikely to approve the DefenCath New Drug Application (“NDA”) for catheter-related bloodstream infections in its present form; (iii) defendants had downplayed the true scope of the deficiencies with DefenCath’s manufacturing process and/or at the facility responsible for manufacturing DefenCath; and (iv) as a result, CorMedix’s public statements were materially false and misleading at all relevant times.

On March 1, 2021, CorMedix issued a press release “announc[ing] that the [FDA] cannot approve the [NDA] for DefenCath . . . in its present form.” CorMedix informed investors that the “FDA noted concerns at the third-party manufacturing facility after a review of records requested by FDA and provided by the manufacturing facility”; that the “FDA did not specify the issues and CorMedix intends to work with the manufacturing facility to develop a plan for resolution when FDA informs the facility of the specific concerns”; that, “[w]hen we are informed of the issues, we will schedule an investor conference call to provide an update on our expected timeline for resolution”; and that “[a]dditionally, FDA is requiring a manual extraction study to demonstrate that the labeled volume can be consistently withdrawn from the vials despite an existing in-process control to demonstrate fill volume within specifications.” On this news, CorMedix’s stock price fell nearly 40%.