BERKELEY HEIGHTS, N.J., Feb. 02, 2026 (GLOBE NEWSWIRE) -- CorMedix Therapeutics (Nasdaq: CRMD), a biopharmaceutical company focused on developing and commercializing therapeutic products for life-threatening diseases and conditions, today announced its Board of Directors has approved a share repurchase program, which authorizes the Company to repurchase up to $75 million of the Company’s outstanding common stock. The repurchase program is authorized through December 31, 2027. “With a strong balance sheet, s ...

Core Insights - CorMedix Inc. reported Q3 2025 net revenue of $104.3 million and pro forma net revenue of $130.8 million, primarily driven by increased utilization of DefenCath by outpatient dialysis customers [4] - The company raised its full-year 2025 pro forma net revenue guidance to a range of $390 to $410 million, with fourth quarter guidance set between $115 to $135 million [4] - CorMedix achieved a net income of $108.6 million for Q3 2025, significantly improving from a net loss of $2.8 million in Q3 2024, aided by a one-time tax benefit of $59.7 million [3][4] Financial Performance - Q3 2025 net revenue was $104.3 million, with DefenCath sales contributing $88.8 million [4] - Adjusted EBITDA for Q3 2025 was reported at $71.9 million, with basic and diluted EPS at $1.42 and $1.26, respectively [4][3] - Total operating expenses for Q3 2025 were $41.7 million, a 197% increase from $14.1 million in Q3 2024, driven by non-recurring costs related to the Melinta acquisition [5] Business Developments - CorMedix completed the acquisition of Melinta Therapeutics on August 29, 2025, with integration efforts proceeding faster than expected, estimating a synergy capture of approximately $30 million [4] - The company announced a rebranding to CorMedix Therapeutics, with all employees operating under the new name [4] - CorMedix completed enrollment in the Phase III ReSPECT study for Rezzayo in October 2025, expecting top-line data in Q2 2026 [4] Cash Position - As of September 30, 2025, CorMedix reported cash and short-term investments of $55.7 million, projecting year-end cash of approximately $100 million [6][4]

Core Insights - CorMedix Inc. reported preliminary unaudited net revenue for Q3 2025 exceeding $125 million, with DefenCath contributing more than $85 million to this total [1][4] - The company has raised its full-year 2025 pro forma net revenue guidance to at least $375 million, up from the previous range of $325-$350 million [1][4] - CorMedix anticipates achieving approximately $30 million in operating synergies on a go-forward run-rate basis before the end of 2025 [1][4] Financial Performance - Preliminary Q3 2025 unaudited net revenue is reported to be over $100 million, with DefenCath revenue growth driven by higher utilization from LDO customers and other clients [4] - The company expects adjusted EBITDA for Q3 2025 to be at least $70 million [4] - As of September 30, 2025, cash, cash equivalents, and short-term investments totaled approximately $56 million, with a projected year-end balance of around $100 million [4] Business Developments - CorMedix has made significant progress in integrating the recently acquired Melinta portfolio, with expected cost synergies of $30 million before Q4 2025 and an additional $5-$15 million targeted for 2026 [4] - The company has completed enrollment in the Phase III ReSPECT study for Rezzayo, aimed at preventing fungal infections in patients undergoing allogeneic blood and marrow transplants, with clinical data expected in Q2 2026 [4][6] - The total addressable market for prophylaxis is estimated to exceed $2 billion [4] Product Portfolio - CorMedix is focused on developing and commercializing therapeutic products for life-threatening conditions, including DefenCath for preventing catheter-related bloodstream infections [5] - Following the acquisition of Melinta Therapeutics, the company is also commercializing a range of anti-infective products, including MINOCIN, REZZAYO, VABOMERE, ORBACTIV™, BAXDELA, and KIMYRSA [5]