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Mar 31, 2022
CorMedix Q1 2022 Earnings Report
Reported financial results for the first quarter ended March 31, 2022 and provided an update on recent business events.
Key Takeaways
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.
Net loss for the first quarter of 2022 was $7.0 million, or $0.18 per share.
Operating expenses decreased by approximately 3% compared to the first quarter of 2021.
R&D expense decreased by 13% due to net decreases in personnel expenses and non-cash charges for stock-based compensation.
Cash and short-term investments were $61.7 million at March 31, 2022, excluding restricted cash.