Loading...
•
Sep 30, 2023
CorMedix Q3 2023 Earnings Report
Reported a net loss due to increased pre-launch commercial activities for DefenCath and provided a business update.
Key Takeaways
CorMedix reported a net loss of $9.7 million, or $0.17 per share, for the third quarter of 2023, compared to a net loss of $6.9 million, or $0.17 per share, for the same period in 2022. The increased loss was primarily due to higher operating expenses related to pre-launch commercial activities for DefenCath. The company's cash and short-term investments totaled $86.6 million as of September 30, 2023.
Net loss for Q3 2023 was $9.7 million, or $0.17 per share.
Operating expenses increased by approximately 50% to $10.5 million compared to Q3 2022.
R&D expense increased by approximately 14% to $2.7 million compared to Q3 2022.
SG&A expense increased by approximately 69% to $7.8 million compared to Q3 2022, driven by pre-launch activities for DefenCath.
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 September 30, 2023.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...