CorMedix (CRMD) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.Since ...

Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, November 8:CorMedix Inc. (CRMD) : This biopharmaceutical company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 20.7% over the last 60 days.CorMedix's shares gained 165.8% over the last three months compared with the S&P 500’s advanced of 12.2%. The company possesses a Momentum Score of A.Flushing Financial Corporation (FFIC) : This bank holding co ...

CorMedix (CRMD) closed the last trading session at $9.99, gaining 12.3% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $15.20 indicates a 52.2% upside potential. The average comprises five short-term price targets ranging from a low of $9 to a high of $19, with a standard deviation of $4.15. While the lowest estimate indicates a decline of 9.9% from the current price level, the mo ...

Financial Data and Key Metrics Changes - The company's net revenue for Q3 2024 was $11.5 million, exceeding Street consensus, driven largely by the initial anchor customer, U.S. Renal [8][19] - The net loss for Q3 2024 was approximately $2.8 million or $0.05 per share, compared to a loss of $9.7 million or $0.17 per share in Q3 2023, indicating improved financial performance [19] - Operating expenses increased by approximately 33% to $14.1 million in Q3 2024 compared to $10.5 million in Q3 2023, primarily due to higher selling and marketing and G&A expenses [19][20] Business Line Data and Key Metrics Changes - DefenCath's commercial launch has seen significant progress, with the first full quarter of product shipments and outpatient utilization [7][8] - Selling and marketing expenses increased 66% to $6.7 million in Q3 2024, while G&A expenses rose 76% to $6.6 million, reflecting increased marketing efforts and personnel costs [20][22] - R&D expenses decreased by approximately 73% to $0.7 million due to the approval of DefenCath, with costs related to medical affairs now recognized in selling and marketing or G&A expenses [21] Market Data and Key Metrics Changes - The company has secured agreements with two midsized dialysis operators and one large-scale operator, which will provide access to DefenCath in roughly 60% of U.S. dialysis clinics [8][12] - The company expects to operationalize agreements with new partners and commence purchases before the end of Q4 2024 [9][10] Company Strategy and Development Direction - The company is focused on expanding the utilization of DefenCath among existing customers and onboarding new ones, while also exploring opportunities to expand the product label beyond hemodialysis [24] - The company plans to submit a refined clinical protocol for adult total parenteral nutrition (TPN) to the FDA by mid-November, aiming for FDA approval by late 2027 to 2028 [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about achieving EBITDA positivity in Q4 2024, despite variability in revenue guidance due to the timing of purchases by new customers [10][24] - The management noted that the initial rollout of DefenCath has been protocolized, indicating a top-down approach in outpatient settings, which is expected to lead to a quick patient conversion ramp once implemented [11][27] Other Important Information - The company recorded net cash used in operations of $45 million for the first nine months of 2024, compared to $27.7 million in the same period in 2023, with cash and cash equivalents of $46 million as of September 30, 2024 [23] - The company anticipates the clinical study for TPN to cost between $10 million and $12 million, with the majority of expenses occurring in 2025 and 2026 [14] Q&A Session Summary Question: Can you speak to the use you are seeing today to what extent it is being driven by individual doctors or centers' decision to use the product versus the overall institution already implementing SOPs? - Management indicated that the rollout has been largely protocolized, driven by a top-down approach in outpatient settings, with centers establishing criteria for DefenCath use [27] Question: How do the reimbursement dynamics compare to what you are actually seeing during the launch? - Management noted that claims data lags, with initial utilization primarily among fee-for-service patients, expanding to Medicare Advantage and commercial payers [28] Question: How should we think about expenses in Q4? - Management expects operating expenses to be in the range of $15 to $17 million for Q4 [29] Question: Can you remind us of the stocking of DefenCath facilities, the holding time, and the order frequency? - Management stated that initial customers are not seeing much stocking, with estimates of holding inventory for about 10 days, while larger customers may hold 15 to 30 days [33] Question: What is the strategy to capture the other 40% operators? - Management is re-engaging with the remaining operators and generating additional data to encourage adoption, with a focus on the top five dialysis providers in the U.S. [43] Question: What percentage of Q3 sales did U.S. Renal account for? - U.S. Renal accounted for more than 90% of Q3 sales, and management is working to replicate their successful implementation with other customers [48] Question: What is the expected impact of the transition from WAC to ASP on ordering patterns? - Management does not expect the transition to impact ordering patterns significantly, as agreements have been structured around this change [50]

CorMedix (CRMD) came out with a quarterly loss of $0.05 per share versus the Zacks Consensus Estimate of a loss of $0.10. This compares to loss of $0.17 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 50%. A quarter ago, it was expected that this pharmaceutical and medical device company would post a loss of $0.26 per share when it actually produced a loss of $0.25, delivering a surprise of 3.85%. Over the last four quarters, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission file number 001-34673 CORMEDIX INC. (Exact Name of Registrant as Specified in Its Charter) | --- | --- | --- | |------------- ...

Exhibit 99.1 CORMEDIX INC. REPORTS THIRD QUARTER AND NINE MONTH 2024 FINANCIAL RESULTS AND PROVIDES BUSINESS UPDATE ‒ Q3 2024 Net Revenue of $11.5 million ‒ ‒ Commercializing DefenCath with Four of Top Five US Dialysis Providers ‒ ‒ Conference Call Scheduled for Today at 8:30 a.m. Eastern Time ‒ Berkeley Heights, NJ – October 30, 2024 – CorMedix Inc. (Nasdaq: CRMD), a biopharmaceutical company focused on developing and commercializing therapeutic products for life-threatening diseases and conditions, today ...

‒ Q3 2024 Net Revenue of $11.5 million ‒ ‒ Commercializing DefenCath with Four of Top Five US Dialysis Providers ‒ ‒ Conference Call Scheduled for Today at 8:30 a.m. Eastern Time ‒ BERKELEY HEIGHTS, N.J., Oct. 30, 2024 (GLOBE NEWSWIRE) -- CorMedix Inc. (Nasdaq: CRMD), a biopharmaceutical company focused on developing and commercializing therapeutic products for lifethreatening diseases and conditions, today announced financial results for the third quarter and nine months ended September 30, 2024 and provid ...

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