CorMedix Inc. Reports Fourth Quarter and Full Year 2025 Financial Results and Provides Business Update

Core Insights - CorMedix Inc. reported a net revenue of $128.6 million for Q4 2025, with a full-year pro forma revenue of $401.3 million, reflecting significant growth compared to the previous year [1][4][8] - The company achieved a net income of $14.0 million in Q4 2025, with an adjusted EBITDA of $77.2 million, indicating strong operational performance [1][7][8] - CorMedix is focused on expanding patient access to its product DefenCath and has completed the acquisition of Melinta, which is expected to enhance its product portfolio [3][4] Financial Highlights - Q4 2025 net revenue included $91.2 million from DefenCath sales and $37.4 million from the Melinta portfolio, marking an increase from $31.2 million in Q4 2024 [4][5] - Total operating expenses for Q4 2025 were $48.2 million, a significant increase from $17.1 million in Q4 2024, primarily due to the Melinta acquisition and associated costs [5][9] - For the full year 2025, CorMedix reported total revenue of $311.7 million, with net sales of DefenCath at $258.8 million and net revenue from Melinta at $52.9 million [8][9] Operational Developments - The company has initiated a share repurchase program authorizing up to $75 million of its common stock [5] - CorMedix anticipates clinical data from the Phase 3 ReSPECT study of REZZAYO in Q2 2026, which is crucial for its growth strategy [5][14] - The ongoing Phase 3 study of taurolidine/heparin catheter lock solution in TPN patients is expected to complete enrollment in the first half of 2027 [5][14] Cash Position - As of December 31, 2025, CorMedix had cash and short-term investments totaling $148.5 million, excluding restricted cash [10][22]