debt_leverage_profile
Minimal long-term debt; primarily equity-financed with cash runway; 20% rate rise has negligible direct interest expense impact
Inferred
Agent_Inference
interest_rate_sensitivity
Low sensitivity; no significant floating-rate debt; higher rates pressure equity valuation and future capital raise cost
Inferred
Agent_Inference
geopolitical_supply_exposure
Low intensity; China and India supply >60% of global API inputs, creating concentration risk.
Medium
GICS-commodity-overlay-v1
supply_chain_dependency
1) API/excipient sourcing from European chemical suppliers; 2) taurolidine active ingredient tied to limited European synthesis capacity
Inferred
Agent_Inference
international_expansion_readiness
Minimal current international revenue; EU markets exposed to EUR/USD fluctuation; devaluation risk low given early commercial stage
Inferred
Agent_Inference
geographic_footprint
Primarily US commercial (CRMD-001/DefenCath launch); EU regulatory presence; revenue almost entirely USD-denominated currently
Inferred
Agent_Inference
commodity_exposure_profile
Low intensity; commodities: Active Pharmaceutical Ingredients, Rare Earth Elements, Natural Gas (energy), Plastics/Resins, Ethanol, Packaging Materials; geopolitical: China and India supply >60% of global API inputs, creating concentration risk.
Medium
GICS-commodity-overlay-v1
vendor_lock_dependency_score
Single-source taurolidine API supplier (specialty European manufacturer) represents critical non-substitutable input; high lock-in risk
Inferred
Agent_Inference
business_model_type_primary
Pharmaceutical product sales; not cloud-dependent for core operations; AWS/GCP termination causes IT disruption, not business failure
Inferred
Agent_Inference
business_model_type_secondary
Internal data/ERP systems could migrate within 60-90 days; no customer-facing cloud product; operational but not existential risk
Inferred
Agent_Inference
switching_cost_profile
Low API coupling risk; internal pharma IT stack; no customer-facing APIs; ERP/CRM systems are standard replaceable software
Inferred
Agent_Inference
howey_test_risk_index
Revenue model is FDA-approved drug sales; does not meet Howey Test criteria; no securities classification risk on product revenue
Inferred
Agent_Inference
regulatory_burden_tier
Very High
Medium
GICS-regulatory-overlay-v1
data_sovereignty_risk
Limited patient data handling; HIPAA primary concern; GDPR exposure minimal given nascent EU operations; CCPA low consumer data risk
Inferred
Agent_Inference
antitrust_exposure_flag
Low antitrust risk; niche catheter-lock solution market; DefenCath first-in-class, no predatory pricing history or dominant market share yet
Inferred
Agent_Inference
regulatory_exposure_profile
Very High burden; regimes: FDA, CMS, HHS, HIPAA, EMA, OIG; Drug pricing legislation and approval delays directly compress revenue visibility.
Medium
GICS-regulatory-overlay-v1
revenue_model_type
Primarily transactional hospital/GPO product sales; some multi-year GPO contracts provide partial recurring visibility; ~30% contract-based
Inferred
Agent_Inference
monetization_vector
Per-unit drug sales to hospitals and dialysis centers; reimbursement-driven pricing via CMS/Medicare coverage for ESRD patients
Inferred
Agent_Inference
pricing_architecture
CMS reimbursement-anchored pricing (~$97/vial add-on payment); limited pricing power upside; downside risk if CMS renegotiates TDAPA rate
Inferred
Agent_Inference
pricing_power_rating
Moderate; protected by CMS add-on reimbursement and clinical differentiation, but government payer caps constrain independent pricing power
Inferred
Agent_Inference
target_gross_margin_bracket
88.5% Gross Margin (Premium (>60%))
High
SEC-XBRL
churn_vulnerability_index
No free-rider problem; prescription drug requiring purchase; churn risk from formulary exclusion or competing products entering market
Inferred
Agent_Inference
headcount_cost_structure
Growth is partially headcount-linear; sales force expansion required to penetrate new dialysis centers; manufacturing outsourced (sublinear COGS)
Inferred
Agent_Inference
marginal_cost_of_growth
Marginal cost of growth moderate; COGS variable with volume, but SG&A/sales force scales with new account penetration geographically
Inferred
Agent_Inference
franchise_compliance_risk
Not applicable; no franchise model
Inferred
Agent_Inference
customer_acquisition_metric
At 10x scale, CAC likely improves via GPO/IDN leverage; LTV strong if CMS reimbursement stable; key risk is sales force scaling cost
Inferred
Agent_Inference
network_effect_present
No meaningful network effects; pharmaceutical product adoption driven by clinical evidence, reimbursement, and physician/center relationships
Inferred
Agent_Inference
asset_efficiency_ratio
18.2% Return on Assets (Excellent)
High
SEC-XBRL
recession_resistance_tier
High recession resistance; ESRD dialysis patients require treatment regardless of economic conditions; CMS reimbursement insulates demand
Inferred
Agent_Inference
customer_segment_primary
Dialysis centers (DaVita, Fresenius dominate ~70% of US market); high concentration risk with two major chain customers
Inferred
Agent_Inference
customer_segment_secondary
Hospital-based hemodialysis units and nephrologists; secondary segment provides diversification but smaller volume contribution
Inferred
Agent_Inference
characteristic_occupations
["11-0000 Management Occupations", "13-0000 Business and Financial Operations Occupations", "15-0000 Computer and Mathematical Occupations", "19-0000 Life, Physical, and Social Science Occupations", "21-0000 Community and Social Service Occupations", "23-0000 Legal Occupations", "29-0000 Healthcare Practitioners and Technical Occupations", "31-0000 Healthcare Support Occupations", "41-0000 Sales and Related Occupations", "43-0000 Office and Administrative Support Occupations", "51-0000 Production Occupations"]
High
SOC-2018/GICS-overlay
agent_automatable_labor_share
0.32 (HIL — ~32% of characteristic roles agent-automatable)
Medium
SOC-2018 + agentic-exposure-v1
capital_expenditure_profile
0.7% CapEx / Revenue (Low-CapEx Asset-Light)
High
SEC-XBRL
sec_cik
0001410098
High
SEC-EDGAR
ticker
CRMD
High
SEC-EDGAR