CorMedix Q2 2023 Earnings Report
Key Takeaways
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.
Net loss for Q2 2023 was $11.3 million, or $0.25 per share, compared to a net loss of $7.6 million, or $0.19 per share, for Q2 2022.
Operating expenses increased approximately 43% to $11.8 million in Q2 2023.
R&D expense increased approximately 49% to $4.8 million in Q2 2023, mainly due to manufacturing costs for DefenCath.
SG&A expense increased approximately 39% to $7.0 million in Q2 2023, driven by market research and pre-launch activities.
CorMedix
CorMedix
Forward Guidance
CorMedix believes it has sufficient resources to fund operations for at least twelve months from the filing of its Quarterly Report on Form 10-Q for the quarter ended June 30, 2023.