Business
Cormedix Therapeutics Reports First Quarter 2026 Financial Results and Provides Business Update
‒ Q1 2026 Net Revenue of $127.4 million ‒ ‒ Q1 2026 Net Income of $38.6 million; Adjusted EBITDA of $70.0 million ‒ ‒ Company raises FY 2026 Revenue and
About this update from Cormedix Inc.
[{"type":"text","content":"‒ Q1 2026 Net Revenue of $127.4 million ‒ ‒ Q1 2026 Net Income of $38.6 million; Adjusted EBITDA of $70.0 million ‒ ‒ Company raises FY 2026 Revenue and Adjusted EBITDA Guidance ‒ ‒ Conference Call Scheduled for Today at 8:30 a.m. Eastern Time ‒ PARSIPPANY, N.J., May 14, 2026 (GLOBE NEWSWIRE) -- CorMedix Therapeutics (Nasdaq: CRMD) today announced financial results for the first quarter ended March 31, 2026 and provided an update on its business. Recent Corporate Highlights: CorMedix announces $127.4 million of net revenue for the first quarter of 2026, reflecting strong first quarter execution and positive underlying demand trends. The Company also recognized net income of $38.6 million and adjusted EBITDA of $70.0 million.(1) Basic and fully diluted EPS were $0.48 and $0.43 per share, respectively, for the quarter. DefenCath® (taurolidine and heparin) sales contributed $97.5 million of net revenue in the quarter, bolstered by higher utilization of DefenCath by outpatient dialysis customers as well as a non-recurring $9.0 million favorable change in estimate related to certain sales allowances. The acquired Melinta portfolio contributed $29.9 million, reflecting typical, first quarter purchasing patterns for the anti-infective portfolio. CorMedix updates previously established guidance for 2026 net revenue and adjusted EBITDA. The Company increases full-year 2026 net revenue guidance to a range of $325 to $345 million, and full-year adjusted EBITDA guidance to a range of $115 to $135 million. On April 27, 2026, CorMedix announced positive Phase III topline results from the global ReSPECT clinical trial evaluating REZZAYO® (rezafungin for injection) for prophylaxis of invasive fungal diseases in adult patients undergoing allogeneic hematopoietic stem cell transplantation. CorMedix is actively working together with its global partner to prepare for FDA submission of the sNDA, expected in the second half of this year, and targeting for a potential commercial launch for the expanded indication in 2027.The ongoing Phase 3 study of taurolidine/heparin catheter lock solution in TPN patients continues to enroll patients and is currently trending to completion in 2028. The Company is taking appropriate steps to accelerate enrollment trajectory, including the opening of new study sites and the submission of a protocol amendment to FDA, w...