Cormedix Inc. ( (CRMD) ) has released its Q1 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 for life-threatening diseases, with a focus on its lead product, DefenCath, used in both inpatient and outpatient settings.
In its first quarter of 2025, CorMedix Inc. reported strong financial results, achieving a net revenue of $39.1 million and a net income of $20.6 million, marking a significant turnaround from a net loss in the previous year. The company’s profitability was largely driven by successful sales of DefenCath, particularly in outpatient dialysis settings.
Key financial highlights include an adjusted EBITDA of $23.6 million and cash from operations amounting to $19.7 million. The company also reported a substantial increase in inpatient institutional shipments of DefenCath, which have doubled over the past three months. Additionally, CorMedix commenced a Phase 3 study targeting the reduction of Central Line Associated Blood Stream Infections in adult patients.
Operating expenses rose by approximately 9% year-over-year, primarily due to increased research and development costs, while selling and marketing expenses saw a temporary decrease. The company ended the quarter with $77.5 million in cash and short-term investments, indicating strong financial health.
Looking ahead, CorMedix anticipates continued growth in inpatient sales and expects to meet the high end of its first-half net sales guidance. The company remains optimistic about its financial trajectory, supported by ongoing clinical programs and strategic initiatives.