CorMedix Inc (CRMD)

[orangecat]

Like CRMD, that other company I mentioned received CE mark approval a few years ago and chose to transition from R&D to commercialization on their own. It has been a slow (4+ years) agonizing processes. The point of operational profitability should happen this quarter. They are now just in the early stages of their first phase 3 US trial. This company is about the polar opposite of CRMD from a financial stand point. They are extremely conservative, with only ~32 million outstanding shares and about 25 million in cash.

Having followed this company's slow transaction to commercialization there is no way I would ever want to see CRMD try to go it alone. Granted, the highly likely FDA approval gives them a huge leg up, but building out a marketing and sales force is a huge undertaking. BO or partnership is the only way to go in my opinion. However, from a negotiation standpoint, for either option, their financial situation is not good. In my opinion you would want to go into any negotiation with a balance sheet that shows that you have the financial ability to go it alone if needed.