CorMedix Shares Rise 7% On Strong Q3 Results

(RTTNews) - CorMedix Inc. (CRMD) shares climbed 6.88 percent to $11.96 on Wednesday after the company reported a sharp turnaround to profit in the third quarter.

A year prior, the biopharmaceutical company reported a net loss of $2.8 million, or $0.05 per share, while this year it reported a net income of $108.6 million, or $1.26 per share. Due to a sharp increase in product sales to $101.5 million, revenue increased from $11.5 million to $104.3 million.

With a volume of 5.4 million shares, the stock fluctuated between $10.75 and $12.89 from its opening price of $11.75 to an average of 3.2 million shares on the Nasdaq. Over the previous 52 weeks, CorMedix has fluctuated between $5.60 and $17.43.