CorMedix Lifts Revenue Forecast On DefenCath Progress With A Large Dialysis Organization Customer

June 23, 2025 07:22 AM PDT | By EODHD

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CorMedix Lifts Revenue Forecast On DefenCath Progress With A Large Dialysis Organization Customer — Image source: Kalkine Media

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(RTTNews) - CorMedix Inc. (CRMD) announced Monday that a Large Dialysis Organization or LDO customer has begun ordering and will implement DefenCath across its patient base, marking a major commercial milestone for the company. DefenCath, approved by the FDA in November 2023, is indicated for the prevention of catheter-related bloodstream infections and was commercially launched in inpatient settings in April 2024 and outpatient settings in July 2024. The rollout is expected to cover at least 50% more patients than initially projected. In line with the expanded use, CorMedix has amended its agreement with the LDO customer to reflect the anticipated growth in product utilization.

CorMedix posted net revenue of $39.1 million in the first quarter of 2025, driven largely by increased adoption of DefenCath in outpatient dialysis centers. No revenue was recorded in the first quarter of 2024. The company recorded net income of $20.6 million, or $0.32 per share, in Q1 2025, compared to a net loss of $14.5 million, or $0.25 per share, in the same quarter last year. CorMedix now expects a modest revenue contribution in June, followed by significant growth in the second half of 2025. Accordingly, the company has raised its second quarter net sales guidance from $31 million to a new range of $35 million to $40 million.

Revenue was $806 thousand in the second quarter of 2024. CEO Joseph Todisco stated that the implementation will provide access to DefenCath for thousands of at-risk dialysis patients, reinforcing the company's goal of broadening the availability of infection prevention solutions. Currently, CRMD is trading at $16.67, up by 22.92 percent on the Nasdaq.

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