CRMD - Why CorMedix Stock Is Getting Crushed Today
CorMedix (NASDAQ: CRMD) stock was getting crushed on Tuesday, with shares down 23.7% as of 11 a.m. EDT. The decline came after the company announced that it "has encountered delays at its third-party contract manufacturer." These delays will push back CorMedix's refiling for U.S. Food and Drug Administration approval of its DefenCath antibacterial and antifungal catheter lock solution by an undetermined amount of time.
Investors don't like uncertainty. CorMedix provided nothing but uncertainty with its announcement today. It's not surprising, therefore, that the biotech stock is sinking.
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Why CorMedix Stock Is Getting Crushed Today