CorMedix Earnings Reports

CorMedix recorded net revenue of $31.2 million in Q4 2024, supported by robust DefenCath sales. The company achieved its first profitable quarter with a net income of $13.5 million and adjusted EBITDA of $15.3 million. Operating expenses increased slightly due to scaling commercial activities. The company is focused on expanding inpatient and outpatient presence and anticipates continued growth into 2025.

CorMedix reported net revenue of $11.5 million for the third quarter of 2024, marking the first full quarter of sales since DefenCath was launched. The company's net loss decreased by 72% compared to the same period last year, driven by DefenCath sales. Operating expenses increased due to higher selling and marketing and general and administrative expenses.

CorMedix reported a net loss of $14.2 million for the second quarter of 2024, driven by increased operating expenses related to the commercial launch of DefenCath. The company is focused on expanding DefenCath's indications and is pleased with the early revenue trajectory from the outpatient launch.

CorMedix reported a net loss of $14.5 million for the first quarter of 2024, driven by an increase in operating expenses, partially offset by the sale of New Jersey NOLs for $1.4 million. The company's SG&A expenses increased significantly due to the hiring of sales force, medical affairs, and marketing personnel, while R&D expenses decreased.

CorMedix Inc. reported its Q4 and full-year 2023 financial results, highlighting a net loss for the quarter driven by increased spending on DefenCath pre-launch activities and personnel. The company is preparing for the commercial launch of DefenCath in April 2024 and has seen significant inbound interest.

CorMedix reported a net loss of $9.7 million, or $0.17 per share, for the third quarter of 2023, compared to a net loss of $6.9 million, or $0.17 per share, for the same period in 2022. The increased loss was primarily due to higher operating expenses related to pre-launch commercial activities for DefenCath. The company's cash and short-term investments totaled $86.6 million as of September 30, 2023.

CorMedix reported a net loss of $11.3 million, or $0.25 per share, for the second quarter of 2023, compared to a net loss of $7.6 million, or $0.19 per share, in the second quarter of 2022. The company's operating expenses increased by approximately 43% to $11.8 million, driven by higher SG&A and R&D expenses.

CorMedix reported a net loss of $10.6 million for the first quarter of 2023, driven by increased operating expenses related to pre-launch activities for DefenCath. The company is preparing for a potential commercial launch in early 2024, pending FDA approval. They have sufficient resources to fund operations at least through the first half of 2024.

CorMedix reported a net loss of $8.2 million, or $0.20 per share, for the fourth quarter of 2022, compared to a net loss of $7.8 million, or $0.20 per share, for the fourth quarter of 2021. The increase in net loss was primarily driven by increases in costs related to market research studies and pre-launch activities.

CorMedix reported a net loss of $6.9 million, or $0.17 per share, for the third quarter of 2022, compared to a net loss of $8.6 million, or $0.22 per share, for the third quarter of 2021. The company is focused on securing FDA approval of DefenCath in 2023.

CorMedix reported a net loss of $7.6 million, or $0.19 per share, for the second quarter of 2022, compared to a net loss of $4.6 million, or $0.12 per share, in the second quarter of 2021. The company's operating expenses increased by approximately 41% to $8.3 million, driven by increases in both SG&A and R&D expenses.

CorMedix reported a net loss of $7.0 million, or $0.18 per share, for the first quarter of 2022. Operating expenses decreased by approximately 3% due to lower R&D expense. The company reported cash and short-term investments of $61.7 million at March 31, 2022, and believes it has sufficient resources to fund operations at least through the first half of 2023.

CorMedix reported a net loss of $7.8 million, or $0.20 per share, for the fourth quarter of 2021, compared to a net loss of $6.1 million, or $0.19 per share, in the fourth quarter of 2020. The increase in net loss was primarily driven by increases in costs related to the manufacturing of DefenCath prior to its potential marketing approval and non-cash charges for stock-based compensation.

CorMedix reported a net loss of $8.6 million, or $0.22 per share, for the third quarter of 2021, compared to a net loss of $6.6 million, or $0.22 per share, for the third quarter of 2020. The increased loss was attributed to higher costs related to the manufacturing of DefenCath.

CorMedix reported a net loss of $4.6 million, or $0.12 per share, for the second quarter of 2021, compared to a net loss of $3.8 million, or $0.14 per share, for the second quarter of 2020. Operating expenses decreased by approximately 34% to $5.9 million, compared with $8.9 million in the second quarter of 2020. Total cash on hand and short-term investments as of June 30, 2021, was $78.3 million.

CorMedix reported a net loss of $7.2 million, or $0.20 per share, for the first quarter of 2021, compared to a net loss of $5.6 million, or $0.21 per share, for the first quarter of 2020. The increase in net loss was driven by an increase in operating expenses. The company's cash and short-term investments were $81.2 million as of March 31, 2021.

CorMedix reported a net loss of $6.1 million for the fourth quarter of 2020, compared to a net loss of $5.3 million in the fourth quarter of 2019. The increase in net loss was primarily driven by increases in employee costs and market research costs. The company had $46.3 million in cash and short-term investments as of December 31, 2020.

CorMedix reported a net loss attributable to common shareholders of $6.6 million, or $0.22 per share, for the third quarter of 2020. The company is preparing for the potential launch of Defencath in the U.S. hemodialysis market, pending FDA approval.

CorMedix reported a net loss of $3.8 million, or $0.14 per share, for the second quarter of 2020, compared to a net loss of $0.7 million, or $0.03 per share, in the second quarter of 2019. The increased loss was attributed to higher expenses related to the commercial launch of Defencath.

CorMedix reported a net loss of $5.6 million, or $0.21 per share, for the first quarter of 2020. The company's operating expenses increased by $0.7 million, driven by higher SG&A expenses, partially offset by a $0.1 million increase in gross profit on sales. The Company reported cash and short term investments of $23.2 million at March 31, 2020.

CorMedix reported a net loss of $5.3 million for Q4 2019, compared to a net income of $2.2 million in Q4 2018. The company is in the process of submitting a New Drug Application (NDA) for Neutrolin.