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Dec 31, 2023
CorMedix Q4 2023 Earnings Report
CorMedix reported a net loss for the fourth quarter of 2023, driven by increased costs related to market research, pre-launch activities for DefenCath, and personnel expenses.
Key Takeaways
CorMedix Inc. reported its Q4 and full-year 2023 financial results, highlighting a net loss for the quarter driven by increased spending on DefenCath pre-launch activities and personnel. The company is preparing for the commercial launch of DefenCath in April 2024 and has seen significant inbound interest.
CorMedix recorded a net loss of $14.8 million, or $0.26 per share, for the fourth quarter of 2023.
Operating expenses for the fourth quarter of 2023 were $15.7 million.
The company anticipates a commercial launch of DefenCath in inpatient settings in April 2024 and in outpatient settings in July 2024.
Total cash, cash equivalents, and short-term investments amounted to $76.0 million as of December 31, 2023.
CorMedix
CorMedix
Forward Guidance
CorMedix anticipates the commercial launch of DefenCath in inpatient settings in April 2024 and in outpatient settings in July 2024, pending a timely implementation of TDAPA. The Company believes that it has sufficient resources to fund operations for at least twelve months from the issuance of its Annual Report on Form 10-K.