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Mar 31, 2024
CorMedix Q1 2024 Earnings Report
CorMedix reported first quarter 2024 financial results and provided a business update.
Key Takeaways
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 officially transitioned to a commercial stage organization.
Meaningful interest received in scheduling DefenCath for formulary review at various institutions.
Focus on upcoming outpatient launch and engaging with customers regarding DefenCath as a preventative measure.
Commercial launch of DefenCath in outpatient settings is anticipated in July 2024.
Forward Guidance
CorMedix believes that it has sufficient resources to fund operations for at least twelve months from the issuance of the Company’s Quarterly Report on Form 10-Q.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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