CorMedix Q3 Profit Soars As DefenCath Dialysis Demand Exceeds Expectations

Core Insights - CorMedix Inc. reported third-quarter earnings of $1.26 per share, significantly exceeding the consensus estimate of 63 cents [1] - Sales reached $104.27 million, a substantial increase from $11.5 million a year ago, surpassing the consensus of $86.02 million [1] - The net revenue of $104.3 million and pro forma net revenue of $130.8 million were primarily driven by higher-than-expected utilization of DefenCath by outpatient dialysis customers [1] Financial Performance - The company recognized a net income of $108.6 million and adjusted EBITDA of $71.9 million [2] - Cash, cash equivalents, and short-term investments totaled $55.7 million [2] Guidance and Projections - CorMedix raised its full-year 2025 pro forma net revenue guidance to a range of $390 to $410 million, compared to the consensus of $283.69 million [2] - Fourth quarter net revenue guidance was increased to $115 to $135 million, compared to the Wall Street estimate of $118.85 million [2] - The guidance for fully synergized pro forma adjusted EBITDA for 2025 was increased to a range of $220 to $240 million [3] Strategic Developments - The acquisition of Melinta Therapeutics was completed in August, with integration efforts proceeding more quickly than projected [3] - CorMedix estimates a synergy capture of approximately $30 million of the total estimated $35 to $45 million on an annual run-rate basis before the end of 2025 [3] Market Reaction - CRMD stock increased by 12.06% to $12.54 following the earnings report [4]