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Mar 31, 2021
CorMedix Q1 2021 Earnings Report
Reported a net loss due to increased operating expenses.
Key Takeaways
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.
Net loss was $7.2 million, or $0.20 per share, compared to $5.6 million, or $0.21 per share, in Q1 2020.
Operating expenses were $7.2 million, a 29% increase from $5.6 million in Q1 2020.
SG&A rose by 45% to $4.6 million due to increased stock compensation, market research costs, and staffing costs.
Cash and short-term investments were $81.2 million as of March 31, 2021.
CorMedix
CorMedix
Forward Guidance
CorMedix believes that, based on its current cash resources, it has sufficient resources to fund operations at least into the second half of 2022.