earnings
confidence high
sentiment neutral
materiality 0.60
CorMedix Q2 net loss $14.2M; DefenCath sales $0.8M initial, outpatient QTD $5.2M
CorMedix Inc.
2024-Q2 EPS reported
-$0.50
revenue$806,119
- Q2 net loss $14.2M ($0.25/share) vs $11.3M loss ($0.25/share) a year ago, driven by higher operating expenses.
- DefenCath net sales $0.8M for partial quarter since April 15 inpatient launch; outpatient QTD sales $5.2M as of Aug 13.
- Operating expenses $15.6M in Q2 (+32% YoY) from commercial launch costs; R&D down 86% post-approval.
- Cash and short-term investments $45.6M at June 30, sufficient for at least 12 months.
- Submitted TPN study protocol to FDA; patient enrollment expected to begin Q1 2025.