Business
CorMedix Inc. Announces Preliminary Third Quarter 2025 Results and Raises 2025 Net Revenue Guidance
‒ Q3 2025 Unaudited Pro Forma Net Revenue of more than $125 million ‒ ‒ Q3 2025 Unaudited DefenCath Net Revenue of more than $85 million ‒ ‒ Raising FY 2025
About this update from Cormedix Inc.
[{"type":"text","content":"‒ Q3 2025 Unaudited Pro Forma Net Revenue of more than $125 million ‒ ‒ Q3 2025 Unaudited DefenCath Net Revenue of more than $85 million ‒ ‒ Raising FY 2025 Pro Forma Net Revenue Guidance to at least $375 million ‒ ‒ ~$30mm of operating synergy on a go-forward run-rate basis before year end 2025 ‒ BERKELEY HEIGHTS, N.J., Oct. 20, 2025 (GLOBE NEWSWIRE) -- CorMedix Inc. (Nasdaq: CRMD), a biopharmaceutical company focused on developing and commercializing therapeutic products for life-threatening diseases and conditions, today announced selected preliminary unaudited third quarter results and provided an update on its business. These include the following key updates: Preliminary Q3 2025 unaudited net revenue of more than $100 million, including at least $85 million for DefenCath, and preliminary pro forma Q3 2025 unaudited Company net revenue of more than $125 million(1). DefenCath revenue growth has been driven by stronger than projected utilization by the Company’s LDO customer as well as continued utilization growth with other customers.Based on the current sales trend for DefenCath as well as the performance of the recently acquired Melinta portfolio, CorMedix is increasing its full-year 2025 pro forma net revenue guidance from the previously announced range of $325-$350 million to at least $375 million(1). Company expects Q3 2025 adjusted EBITDA(2) of at least $70 million.The Company has made significant progress on the integration of Melinta and management now forecasts cost synergy capture of at least $30 million on a go-forward run-rate basis before the end of the fourth quarter 2025, with the remaining targeted synergies of $5 – $15 million expected to be captured in CY 2026. CorMedix recently announced the completion of enrollment in the ongoing Phase III ReSPECT study of Rezzayo in prophylaxis of fungal infection in adult patients undergoing allogeneic blood and marrow transplant. The Company expects to be able to share clinical data in 2Q 2026 and believes that the total addressable market for prophylaxis is more than $2 billion.Cash, cash equivalents and short-term investments as of September 30, 2025 accounted for approximately $56 million, and the Company is guiding to a projected year end cash and cash equivalent balance of approximately $100 million. The Company’s Q3 cash balance was impacted by cash payments made...