Cormedix Inc. Announces Preliminary First Quarter 2025 Results and Raises H1 2025 Net Sales Guidance

Core Insights - CorMedix Inc. reported preliminary unaudited net revenue of $39.0 million for Q1 2025 and expects adjusted EBITDA to exceed $22.5 million [1][5] - The company has increased its H1 2025 net sales guidance to a range of $62 million to $70 million due to larger than expected orders and improved visibility into inventory levels [5] - Cash and cash equivalents as of March 31, 2025, amounted to approximately $77.5 million [1][5] Financial Performance - Q1 2025 unaudited net revenue: $39.0 million [1][5] - Expected Q1 2025 adjusted EBITDA: above $22.5 million [1][5] - Cash and cash equivalents: approximately $77.5 million as of March 31, 2025 [1][5] Business Updates - CorMedix is focused on commercializing its lead product DefenCath®, which was FDA approved on November 15, 2023, and launched in inpatient settings in April 2024 and outpatient settings in July 2024 [3] - The company plans to commence clinical studies in Total Parenteral Nutrition and pediatric patient populations in 2025 [3] - Expected peak annual sales for DefenCath in the Total Parenteral Nutrition patient population could reach between $150 million to $200 million, with a total addressable market of $500 million to $750 million [5]