Cormedix (CRMD) saw its loss widen to $9.13 million, or $0.23 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $4.69 million, or $0.14 a share.
Revenue during the quarter grew 23.66 percent to $0.04 million from $0.04 million in the previous year period. Gross margin for the quarter contracted 34 basis points over the previous year period to 1.19 percent.
Operating loss for the quarter was $9.16 million, compared with an operating loss of $4.71 million in the previous year period.
“Neutrolin has the potential to alleviate the significant public health and pharmacoeconomic burden caused by catheter-related bloodstream infections, to the benefit of patients and healthcare systems worldwide," said Khoso Baluch, CorMedix chief executive officer. "In the face of antibiotic resistance and a vulnerable patient population, we expect Neutrolin to emerge as a powerful anti-infective with a broad spectrum mechanism of action against most types of bacterial and fungal infections, including MRSA, without any evidence of microbial resistance."
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