CorMedix Q1 net loss $10.6M; DefenCath NDA resubmitted to FDA for 6-month review

CorMedix Inc.

2023-Q1 EPS reported -$0.24

Q1 net loss $10.6M ($0.24/share) vs $7.0M loss in Q1 2022; operating expenses $11.0M, up 57% YoY due to pre-launch activities.
DefenCath NDA resubmitted to FDA; classified as Type 2 resubmission with 6-month review cycle, target action date November 2023.
CMS proposed rule grants DefenCath NTAP up to $17,111 per hospital stay, contingent on FDA approval by July 1, 2024.
US Patent Office issued notice of allowance for DefenCath composition, extending IP protection to 2042.
Cash and short-term investments $55.6M; management believes sufficient to fund operations through first half of 2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CorMedix Inc. reported first quarter ended March 31, 2023 results: net income net loss of $10.6 million, EPS $0.24 per share.

Period: first quarter ended March 31, 2023
Net income: net loss of $10.6 million
EPS: $0.24 per share
Result: reported results

Exact text from the filing

For the first quarter of 2023, CorMedix recorded a net loss of $10.6 million, or $0.24 per share, compared with a net loss of $7.0 million, or $0.18 per share, in the first quarter of 2022

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Source: SEC EDGAR

accession 0001213900-23-039770

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