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Sep 30, 2022
CorMedix Q3 2022 Earnings Report
Reported a decrease in net loss due to decreased operating expenses, advanced DefenCath development, and prepared for potential commercialization.
Key Takeaways
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.
Net loss decreased due to lower operating expenses.
Operating expenses decreased by approximately 19% to $7.0 million.
R&D expense decreased by approximately 51% to $2.3 million.
SG&A expense increased by approximately 21% to $4.6 million due to pre-launch activities.
CorMedix
CorMedix
Forward Guidance
CorMedix believes that its cash resources at September 30, 2022, are sufficient to fund operations at least through 2023.