Financial Results - CorMedix Inc. announced preliminary financial results for Q1 2025 on April 8, 2025[6] - The company provided a business update alongside the financial results[6] - The press release detailing these results is included as Exhibit 99.1[6]

‒ Q1 2025 Unaudited Net Revenue of $39.0 million ‒ ‒ Expected Q1 Adjusted EBITDA above $22.5 million ‒ ‒ Q1 2025 Cash and Cash Equivalents of Approximately $77.5 million ‒ BERKELEY HEIGHTS, N.J., April 08, 2025 (GLOBE NEWSWIRE) -- CorMedix Inc. (NASDAQ:CRMD), a biopharmaceutical company focused on developing and commercializing therapeutic products for life-threatening diseases and conditions, today announces its preliminary unaudited first quarter results and provides an update on its business. These inclu ...

BERKELEY HEIGHTS, N.J., April 02, 2025 (GLOBE NEWSWIRE) -- CorMedix Inc. (NASDAQ:CRMD), a biopharmaceutical company focused on developing and commercializing therapeutic products for life-threatening diseases and conditions, today announced that management will be participating in the 24th Annual Needham Virtual Healthcare Conference, taking place virtually on April 7-10, 2025. 24th Annual Needham Virtual Healthcare Conference Date:Tuesday, April 8, 2025Time:2:15p.m. EDTFormat:Fireside ChatWebcast:Link  Abo ...

Group 1 - CorMedix Inc. is a growth company benefiting from the launch of its new drug, DefenCath, which has received FDA approval in 2023 [1] - DefenCath specifically addresses catheter-related bloodstream infections in patients undergoing hemodialysis [1] Group 2 - The company is positioned in a niche market with significant potential for growth due to the specific medical need it addresses [1]

Group 1 - CorMedix Inc. is under investigation by Bragar Eagel & Squire, P.C. for potential violations of federal securities laws and unlawful business practices [1] - On March 25, 2025, CorMedix reported its fourth quarter and full year 2024 financial results, indicating expectations of net price erosion starting in Q2 2025, which led to a decline in the company's stock price [2] - The law firm is reaching out to long-term stockholders of CorMedix who may have suffered losses and is encouraging them to participate in the investigation [3] Group 2 - Bragar Eagel & Squire, P.C. is a nationally recognized law firm that represents investors in various complex litigations across state and federal courts [4]

ATLANTA, March 25, 2025 (GLOBE NEWSWIRE) -- Holzer & Holzer, LLC is investigating whether CorMedix Inc. (“CorMedix” or the “Company”) (NASDAQ: CRMD) complied with federal securities laws. On March 25, 2025, Cormedix reported fourth quarter and full year 2024 financial results. During the Company’s earnings call held the same day, Cormedix noted that “we do expect to begin to see some net price erosion beginning in the second quarter of 2025.” Following this news, the price of the Company’s stock dropped.  I ...

Financial Data and Key Metrics Changes - Net revenue for Q4 2024 was $31.2 million, and for the full year 2024, it was $43.5 million, both exceeding Wall Street consensus [8][22] - The company achieved its first profitable commercial quarter with a net income of $13.5 million, compared to a net loss of $14.8 million in Q4 2023 [22] - Operating expenses in Q4 2024 increased by 9% to $17.1 million compared to $15.7 million in Q4 2023, driven by higher selling and marketing and G&A expenses [23] - Full year 2024 total operating expenses amounted to $62.6 million, an increase of 28% from $49 million in 2023 [26] Business Line Data and Key Metrics Changes - The outpatient segment was the primary driver of revenue growth, with strong uptake from US Renal Care and other customers [9] - Inpatient utilization is expected to increase as the new inpatient sales team becomes active, with a focus on larger hospitals and VA facilities [12][13] Market Data and Key Metrics Changes - The company anticipates net revenue from existing purchasing customers for the first six months of 2025 to be in the range of $50 million to $60 million, with over $33 million expected in Q1 [9] - The company noted that DefenCath's net selling price has remained stable, but some net price erosion is expected starting in Q2 2025 [10] Company Strategy and Development Direction - CorMedix is focused on expanding the use of DefenCath to new therapeutic indications and increasing its existing customer base [32] - The company is reorganizing its inpatient commercialization strategy and partnering with Syneos Health to build a dedicated inpatient field team [12][13] - Clinical developments include a Phase 3 study for reducing CLABSIs in TPN patients, with an expected FDA submission by the end of 2026 [15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential for new patient growth and the importance of large dialysis organization customer implementation for future volume growth [11] - The company is preparing for increased R&D spending on clinical initiatives in 2025, with cash operating expenses expected to be between $72 million and $78 million [30] Other Important Information - The company has cash and cash equivalents of $51.7 million as of December 31, 2024, and anticipates completing Q1 2025 with at least $75 million [29][30] - The company is fielding a high number of requests for participation in an expanded access program for high-risk populations [20] Q&A Session Summary Question: What are the first steps for the inpatient sales team once they're fully launched? - Management indicated that the team will focus on large academic medical centers and support hospitals that are already in the P&T process [34][38] Question: Can you elaborate on the expected net price erosion starting in Q2? - Management noted that while they cannot provide an exact percentage, they expect some discounts and rebates off government ASP, with a stable outlook for the next quarter [40][42] Question: Can you provide an update on the contracted LDO's process and interactions? - Management confirmed ongoing support and information requests from the contracted LDO, expressing hope for implementation by midyear [49][51] Question: What is the current business mix between various MDOs? - Management stated that US Renal Care remains over 80% of orders, but this percentage is decreasing [80] Question: How does the recent FDA acknowledgment of bloodline shortages impact DefenCath? - Management indicated that there would likely be no impact on DefenCath utilization due to alternative manufacturers available [70][72]

CorMedix (CRMD) came out with quarterly earnings of $0.22 per share, beating the Zacks Consensus Estimate of $0.17 per share. This compares to loss of $0.26 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 29.41%. A quarter ago, it was expected that this pharmaceutical and medical device company would post a loss of $0.10 per share when it actually produced a loss of $0.05, delivering a surprise of 50%.Over the last four quarte ...

Revenue and Profit - Revenue for the year ended December 31, 2024 was $43.5 million, compared to $0 for the same period in 2023, reflecting the launch of DefenCath[210]. - Gross profit for the year ended December 31, 2024 was $40.3 million, with a cost of revenue of $3.2 million[209][211]. - For the year ended December 31, 2024, the company achieved revenue of $31.2 million in the fourth quarter, a significant increase compared to $11.5 million in the third quarter and $0.8 million in the second quarter[219]. - The company reported a net income of $12.9 million in the fourth quarter, contrasting with a net loss of $3.3 million in the third quarter and a loss of $15.3 million in the second quarter[219]. Expenses - Research and development expenses decreased by 70% to $3.9 million for the year ended December 31, 2024, down from $13.2 million in 2023[212]. - Selling and marketing expenses increased by 59% to $28.7 million for the year ended December 31, 2024, compared to $18.1 million in 2023[213]. - General and administrative expenses rose by 69% to $30.0 million for the year ended December 31, 2024, up from $17.7 million in 2023[214]. Losses - The loss from operations for the year ended December 31, 2024 was $22.4 million, a 54% decrease from the loss of $49.0 million in 2023[209]. - The net loss for the year ended December 31, 2024 was $17.9 million, a 61% decrease from the net loss of $46.3 million in 2023[209]. Product Information - DefenCath is the first and only FDA-approved antimicrobial catheter lock solution in the U.S., shown to reduce the risk of CRBSI by up to 71% in clinical studies[194]. - DefenCath received NTAP reimbursement of 75% of the wholesaler acquisition cost per hospital stay, with a potential maximum NTAP of $3,656.10[193]. - The company estimates that up to 100,000 HD-CVC placements occur each year, with pass-through status providing separate reimbursement under Medicare for DefenCath[197]. Cash Flow and Investments - The company generated net cash used in operating activities of $50.6 million for the year ended December 31, 2024, an increase of $12.2 million from $38.4 million in 2023[222]. - Net cash provided by investing activities was $21.2 million for the year ended December 31, 2024, compared to a net cash used of $17.1 million in 2023[223]. - The company had total cash, cash equivalents, and short-term investments of $51.7 million as of December 31, 2024, down from $76.0 million in 2023[225]. Future Expectations and Agreements - The company expects to continue funding operations through cash collections and capital raising sources, which may be dilutive to existing stockholders[226]. - A three-year agreement with Syneos Health Commercial Services was entered into in December 2024, committing the company to a minimum of $9.6 million for promoting DefenCath[230]. - The company anticipates payment of $2 million in net sales milestones in 2025 under the ND License Agreement with ND Partners, LLP[231]. - The company received $1.4 million from the sale of unused New Jersey net operating losses in March 2024, contributing to its tax benefit[221]. - The company has $30.2 million of common stock available for potential sale under the ATM program as of December 31, 2024[225].

Financial Results - CorMedix Inc. announced preliminary financial results for Q4 and the year ended December 31, 2024[4]. - The press release detailing these results was issued on January 7, 2025[4]. - The report does not include specific financial metrics or performance indicators[4]. - The report does not provide future guidance or performance outlook[4]. Company Information - The company is listed on the Nasdaq Global Market under the trading symbol CRMD[2]. - The company is not classified as an emerging growth company under the Securities Act[3]. - The report is intended to comply with the requirements of the Securities Exchange Act of 1934[5]. - The financial statements and exhibits related to the report are included as Exhibit 99.1 and Exhibit 104[7]. Management - The company’s CEO, Joseph Todisco, signed the report[11]. Product and Strategy - There is no mention of new product development or market expansion strategies in the provided content[4].