CorMedix: Successful Launch of DefenCath and Optimistic Sales Forecasts for Q4

  • CorMedix Exceeds Expectations in the Third Quarter with a Net Income of 11.5 Million USD.
  • Through partnerships with major dialysis operators, CorMedix expects positive EBITDA in the fourth quarter.

Eulerpool News·

CorMedix has made significant progress following the commercial launch of DefenCath in the USA. As CEO Joe Todisco stated in a conference call, the company's net result in the third quarter exceeded analysts' expectations, reaching USD 11.5 million. This achievement was largely enabled by the anchor client U.S. Renal Care, which played a substantial role in the dissemination of DefenCath in its clinics. In the third quarter, CorMedix initiated its first complete product shipments and expanded the product's use to the outpatient sector. Agreements with two mid-sized dialysis operators and one large operator were concluded, allowing patient access to DefenCath in about 60% of dialysis clinics in the USA. Orders from the new partners are expected before the end of the year, with a positive EBITDA forecasted for the fourth quarter. Material and financial issues were also discussed. CorMedix is collaborating with the FDA to advance clinical trials for the extended use of taurolidine and heparin catheter lock solutions. The target is market approval in the 2027-2028 period. Additionally, the company plans various clinical initiatives, including studies with pediatric hemodialysis patients. Financially, CorMedix is on stable ground. Matt David, CFO, reported a solid cash position, supported by proceeds from their ATM stock issuance. He expects positive revenue forecasts if the current sales trend continues. The CEO emphasized that they are not only maintaining existing client relationships but also seeking new growth opportunities—remaining continuously optimistic and forward-looking.
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