01:00 PM EDT, 03/13/2024 (MT Newswires) -- CorMedix ( CRMD ) provided "consistent" updates on the launch of its catheter lock solution DefenCath during Q4 call and the management remains encouraged by its commercial opportunity, RBC Capital Markets said in a note emailed Wednesday.

The firm said in the note that the company is planning an April inpatient launch and July outpatient launch for DefenCath in the prevention of catheter-related blood stream infections in hemodialysis.

The company said it plans to conduct the July outpatient launch "pending a timely implementation" of a Transitional Drug Add-on Payment, or TDAPA.

"With TDAPA application still under review, reimbursement path clarity remains on our radar," RBC said.

RBC maintained its outperform, speculative risk rating on CorMedix ( CRMD ) stock and cut the price target to $9 from $10.

CorMedix ( CRMD ) shares jumped nearly 11% in recent trading.

Price: 3.79, Change: +0.37, Percent Change: +10.67