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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.
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 September 30, 2023.