Cormedix Inc. ( (CRMD) ) has released its Q4 earnings. Here is a breakdown of the information Cormedix Inc. presented to its investors.
CorMedix Inc. is a biopharmaceutical company specializing in the development and commercialization of therapeutic products aimed at preventing and treating life-threatening diseases, with a focus on its lead product, DefenCath.
In its latest earnings report, CorMedix Inc. announced significant financial achievements for the fourth quarter and full year of 2024, highlighted by the successful commercial launch of DefenCath, which contributed to the company’s first profitable quarter.
Key financial metrics include a net revenue of $31.2 million for Q4 2024 and $43.5 million for the full year, driven by the launch of DefenCath in outpatient settings. The company reported a net income of $13.5 million for the quarter, marking a turnaround from a net loss in the previous year. Operating expenses increased due to expanded commercial activities, but these were offset by strong sales performance.
Strategically, CorMedix has partnered with Syneos Health to establish an inpatient sales team and with WSI for marketing support, anticipating further growth in DefenCath utilization. The company is also advancing its clinical studies for DefenCath in new patient populations and has applied for Orphan Drug Status for a new indication.
Looking ahead, CorMedix projects continued revenue growth in the first half of 2025, with expectations of $50-$60 million in net revenue. The company remains focused on expanding its market presence and enhancing patient access to DefenCath, supported by a robust cash position to fund ongoing operations.