CorMedix Q1 net loss $14.5M; launches DefenCath; CMS TDAPA effective July 2024

CorMedix Inc.

2024-Q1 EPS reported -$0.25

Net loss of $14.5M ($0.25/sh) vs $10.6M loss ($0.24/sh) in Q1 2023; operating expenses up 44% to $15.9M.
Cash and short-term investments $58.6M; company believes it can fund operations for at least 12 months.
CMS granted HCPCS code and TDAPA for DefenCath effective July 1, 2024, providing 5 years of additional ESRD reimbursement.
Commercial launch of DefenCath in inpatient setting commenced April 15, 2024; outpatient launch expected July 2024.
Entered 5-year supply contract with ARC Dialysis; FDA meeting on DefenCath in TPN requested, feedback expected Q2 2024.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

CorMedix Inc. reported first quarter ended March 31, 2024 results: net income net loss of $14.5 million, EPS $0.25 per share.

Period: first quarter ended March 31, 2024
Net income: net loss of $14.5 million
EPS: $0.25 per share
Result: reported results

Exact text from the filing

CorMedix Inc. (Nasdaq: CRMD), a biopharmaceutical company focused on developing and commercializing therapeutic products for life-threatening diseases and conditions, today announced financial results for the first quarter ended March 31, 2024

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Source: SEC EDGAR

accession 0001213900-24-041026

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