The bear market struck again Thursday morning as a New Jersey-based antifungal biotech reported a significant shift in operations.
CorMedix will be shaking up much of its C-suite and halting operations in Europe, the company announced, as it looks to rebound from a March 2021 CRL. The company had re-filed its application about six weeks ago but the changes highlight the new direction as it prepares to meet the FDA once again.
The most prominent change comes at the top: Joe Todisco officially started his CEO tenure Tuesday, following the announcement of his appointment back in March. Tom Nusbickel, meanwhile, will step down from his role as chief commercial officer in a mutual parting of ways, CorMedix said.
Additionally, as CorMedix winds down its European business, it will also discontinue the distribution of Neutrolin, used to prevent catheter-related blood infections. Neutrolin is the company’s only approved product and is only…
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