Navigation Links
CorMedix Granted Extension of NYSE MKT Listing
Date:7/15/2013

BRIDGEWATER, N.J., July 15, 2013 /PRNewswire/ -- CorMedix Inc. ("CorMedix") (NYSE MKT: CRMD), a pharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of cardiorenal disease, received a notice from the NYSE MKT that the NYSE MKT has granted CorMedix an extension until October 20, 2013 to regain compliance with the continued listing standards of the NYSE MKT.

CorMedix had received notice on April 20, 2012 from the NYSE MKT informing it that CorMedix was not in compliance with Section 1003(a)(iv) of the NYSE MKT's continued listing standards due to financial impairment.  CorMedix was afforded the opportunity to submit a plan to the NYSE MKT to regain compliance and, on May 17, 2012, presented its plan to the NYSE MKT.  On June 27, 2012, the NYSE MKT accepted CorMedix's plan and granted it an extension until August 22, 2012 to regain compliance with the continued listing standards. On September 21, 2012, the NYSE MKT notified CorMedix that it granted CorMedix another extension to January 31, 2013 and on February 1, 2013, NYSE MKT notified that CorMedix was further granted extension until April 15, 2013 to regain compliance with the continued listing standards of the NYSE MKT. By letter dated July 9, 2013, the NYSE MKT notified CorMedix that it has been granted an additional extension until October 20, 2013.

Separately, and as previously reported, on April 5, 2013, CorMedix received notice from the NYSE MKT indicating that CorMedix was not in compliance with Section 1003(a)(i) of the NYSE MKT's continued listing standards due to having less than $2 million of stockholders' equity as reported in its Form 10-K for the fiscal year ended December 31, 2012. On May 6, 2013, CorMedix submitted a plan of compliance to the NYSE MKT setting forth our plan to regain compliance with the NYSE MKT listing standards by October 20, 2013. On May 29, 2013, the NYSE MKT notified CorMedix that it was granted an extension until October 20, 2013 to regain compliance with the Section 1003(a)(i) of the NYSE MKT listing standards. 

If CorMedix is not in compliance with all of the NYSE MKT's continued listing standards by October 20, 2013, the NYSE MKT will initiate delisting proceedings. Under the rules of the NYSE Company Guide, CorMedix is allotted a maximum of 18 months from the date of a deficiency letter to regain compliance with listing standards.  Accordingly, CorMedix will not be eligible for an extension beyond October 20, 2013.

About CorMedix                                                               

CorMedix Inc. is a pharmaceutical company that seeks to in-license, develop and commercialize therapeutic products for the prevention and treatment of cardiac and renal dysfunction, also known as cardiorenal disease.  CorMedix's most advanced product candidate is CRMD003 (Neutrolin®) for the prevention of catheter-related bloodstream infections and maintenance of catheter patency in tunneled, cuffed, central venous catheters used for vascular access in hemodialysis patients. Please see www.cormedix.com for additional information.

Forward-LookingStatements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. All statements, other than statements of historical facts, regarding management's expectations, beliefs, goals, plans or CorMedix's prospects, future financial position, future revenues and projected costs should be considered forward-looking. Readers are cautioned that actual results may differ materially from projections or estimates due to a variety of important factors, including: CorMedix's ability to maintain its listing on the NYSE MKT; obtaining regulatory approvals to conduct clinical trials and to commercialize CorMedix's product candidates; the outcome of clinical trials of CorMedix's product candidates and whether they demonstrate these candidates' safety and effectiveness; the risks and uncertainties associated with CorMedix's ability to manage its limited cash resources, obtaining additional financing to support CorMedix's research and development and clinical activities and operations; CorMedix's ability to enter into and maintain collaborations with third parties for its development programs; CorMedix's dependence on its collaborations and its license relationships; achieving milestones under CorMedix's collaborations; CorMedix's dependence on preclinical and clinical investigators, preclinical and clinical research organizations, manufacturers and consultants; and protecting the intellectual property developed by or licensed to CorMedix. These and other risks are described in greater detail in CorMedix's filings with the SEC, 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 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.

(Logo: http://photos.prnewswire.com/prnh/20130715/NY47431LOGO )


'/>"/>
SOURCE CorMedix Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. QRxPharma Granted US Patent On Hybrid Opioids
2. Mapi Pharma Granted United States Patent Covering Glatiramer Depot for Multiple Sclerosis
3. Omeros Ophthalmology Product OMS302 Granted Eligibility for European Centralized Review
4. Bayers Investigational Riociguat Granted U.S. FDA Priority Review for Pulmonary Arterial Hypertension and Inoperable or Persistent/Recurrent Chronic Thromboembolic Pulmonary Hypertension
5. Oramed Pharmaceuticals Granted Japanese Patent for its Core Technology in Oral Delivery of Proteins
6. Cedarburg Hauser Granted DEA Registration for Denver Manufacturing Facility
7. KAHR Medical Granted U.S. Patent Approval for One of its Lead Products in Development, KAHR-101
8. US Patent Granted to RBC Life Sciences for Supplement that Supports Cognitive Function
9. Isis Announces That ISIS-TTR Rx Was Granted Fast Track Designation For The Treatment Of Patients With FAP
10. Harvest Technologies Corporation Granted CE Mark for Expanded Clinical Indication for Treatment of No-Option Critical Limb Ischemia
11. Savara Pharmaceuticals AeroVanc Granted U.S. Orphan Drug Designation for the Treatment of MRSA Lung Infection in Cystic Fibrosis Patients
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/5/2016)... -- As people age, it is natural to be more ... tests that are linked with certain age milestones simplify ... of aging individuals, hearing health is too frequently left ... American adults who report some trouble hearing, there is ... a 2016 healthy aging priority.[1] Cochlear ...
(Date:2/5/2016)... 5, 2016 ... the "Global Musculoskeletal Partnering 2010-2016: Deal ... to their offering. --> ... the "Global Musculoskeletal Partnering 2010-2016: Deal ... to their offering. --> ...
(Date:2/5/2016)... --> --> ... the global active pharmaceuticals ingredients (APIs) market stood at ... US$185.9 bn by 2020. It is expected to expand ... The title of the report is "Active Pharmaceutical Ingredients ... by Therapeutic Area) - Global Industry Analysis, Size, Share, ...
Breaking Medicine Technology:
(Date:2/7/2016)... ... February 07, 2016 , ... Dr. Todd Hobgood , ... medical and surgical expertise. Technically known as deoxycholic acid or previously as ATX-101, ... non-surgical alternative for reduction of fat below the chin (aka the “double chin”). ...
(Date:2/6/2016)... ... , ... Shark Finds and Kevin Harrington, along with the Product ... with Belly Bands. , Having a dog is great—except when it wets every couch, ... nothing works, get Belly Bands, the easiest way to stop dogs from wetting ...
(Date:2/5/2016)... Toronto, Ontario (PRWEB) , ... February 05, 2016 ... ... today announced the availability of the company's lighter, sleeker next generation LYNX VR ... assembly plant. , Improvements in design and manufacturing not only reduce the ...
(Date:2/5/2016)... FL (PRWEB) , ... February 05, 2016 , ... ... the largest domestic franchisees of Popeyes Louisiana Kitchen restaurants, launched the 14th annual ... awareness for kids and adults with muscular dystrophy, ALS and related diseases that ...
(Date:2/5/2016)... ... February 05, 2016 , ... After years as an active staff surgeon and ... cosmetic surgeon Dr. Wayne Carman transitioned to chief of the Division of Plastic Surgery ... three-year term as chief and began a second three-year term in January of 2016. ...
Breaking Medicine News(10 mins):