Earnings summaries and quarterly performance for CorMedix.
Executive leadership at CorMedix.
JT
Joseph Todisco
Detailed
Chief Executive Officer
CEO
BZ
Beth Zelnick Kaufman
Detailed
Executive Vice President, Chief Legal and Compliance Officer and Corporate Secretary
EH
Elizabeth Hurlburt
Detailed
Chief Operating Officer
EM
Erin Mistry
Detailed
Executive Vice President and Chief Commercial Officer
MD
Matthew David
Detailed
Chief Business Officer
SB
Susan Blum
Detailed
Chief Financial Officer
Board of directors at CorMedix.
Research analysts who have asked questions during CorMedix earnings calls.
JB
Jason Butler
JMP Citizens
5 questions for CRMD
Also covers: ACAD, AQST, ATHA +9 more
SB
Serge Belanger
Needham & Company
4 questions for CRMD
Also covers: AMPH, ARQT, BCRX +12 more
Gregory Renza
RBC Capital Markets
3 questions for CRMD
Also covers: ACAD, ADCT, AGIO +12 more
LS
Leszek Sulewski
Truist Securities
3 questions for CRMD
Also covers: AKBA, AMRX, ANIP +6 more
BF
Brandon Foakes
H.C. Wainwright & Co.
2 questions for CRMD
LS
Les Sulewski
Truist
2 questions for CRMD
Also covers: TEVA
RC
Roanna Clarissa Ruiz
Leerink Partners
2 questions for CRMD
Also covers: AKBA, AQST, ARDX +5 more
RR
Roanna Ruiz
Leerink
2 questions for CRMD
Also covers: ENTA, LXRX, UTHR
AN
Anish Nikhanj
RBC Capital Markets
1 question for CRMD
Also covers: APTO, EXEL, FULC +6 more
BF
Brandon Folkes
Rodman & Renshaw
1 question for CRMD
Also covers: ACHV, ANIP, AVDL +10 more
JJ
John Janco
Needham & Company
1 question for CRMD
Recent press releases and 8-K filings for CRMD.
CorMedix Provides 2026 Guidance and Key Pipeline Updates at J.P. Morgan Conference
CRMD
Guidance Update
M&A
New Projects/Investments
- CorMedix reported over $400 million in revenue for 2025 and provided 2026 revenue guidance of $300-$320 million and EBITDA guidance of $100-$125 million, expecting to add to its $150 million cash on hand throughout 2026.
- A significant catalyst is the Q2 2026 Phase 3 data readout for Rezzayo in prophylaxis of fungal infections, targeting a total addressable market exceeding $2 billion.
- The company's lead product, DefenCath, will transition from its two-year TDAPA reimbursement period in June 2026, with 2026 sales guidance of $150-$170 million and 2027 revenue guidance issued.
- CorMedix completed the Melinta acquisition in 2025, adding $140 million pro forma revenue and achieving $35 million in synergies.
Jan 13, 2026, 12:30 AM
CorMedix Provides 2026 Guidance and Strategic Updates at J.P. Morgan Healthcare Conference
CRMD
Guidance Update
M&A
New Projects/Investments
- CorMedix reported over $400 million in revenue for 2025, including $260 million from DefenCath and $140 million pro forma from the Melinta acquisition. The company projects 2026 revenue guidance of $300-$320 million and EBITDA guidance of $100-$125 million, maintaining a strong cash position of $150 million with near zero net debt.
- The company is managing a transition for DefenCath's reimbursement from TDAPA to a post-TDAPA add-on starting July 2026, which is expected to temporarily lower net selling price in Q3 and Q4 2026, but 2027 revenue is anticipated to rebound. DefenCath's 2026 sales guidance is $150-$170 million.
- Significant growth drivers include Rezzayo, with Phase 3 data for prophylaxis of fungal infections in immunocompromised patients expected in Q2 2026 (total addressable market over $2 billion). An expanded indication for DefenCath in TPN is also in Phase 3, with data expected in early 2027 (total addressable market up to $750 million).
- CorMedix completed the Melinta acquisition in 2025, achieving $35 million in synergies within four months. The company also made a strategic investment in Tafera, with a right of first negotiation to acquire the company upon favorable Phase 3 data for their product NIAD, expected mid to Q3 2026.
- The company believes it is currently undervalued, trading at a significant discount to peers, and is focused on improving investor education, with potential consideration of share repurchases if undervaluation persists.
Jan 13, 2026, 12:30 AM
CorMedix Provides 2026 Financial Guidance and Highlights Key Pipeline Catalysts
CRMD
Guidance Update
M&A
New Projects/Investments
- CorMedix reported over $400 million in revenue for 2025, including $260 million from DefenCath and $140 million pro forma from the Melinta acquisition.
- The company issued 2026 revenue guidance of $300-$320 million and EBITDA guidance of $100-$125 million, projecting to increase its $150 million cash on hand throughout the year.
- A significant growth driver is the Phase 3 clinical study readout for Rezzayo for prophylaxis of fungal infections in immunocompromised patients, anticipated in Q2 2026, which targets a total addressable market of over $2 billion.
- DefenCath's TDAPA reimbursement period concludes in June 2026, leading to a transitional revenue period in the second half of 2026, but CorMedix has provided 2027 revenue guidance for DefenCath, expecting a rebound in net selling price.
Jan 13, 2026, 12:30 AM
CorMedix Announces Preliminary Q4 and FY 2025 Results, 2026 Guidance, and Leadership Changes
CRMD
Earnings
Guidance Update
Management Change
- CorMedix announced preliminary unaudited Q4 2025 net revenue of approximately $127 million and FY 2025 net revenue of approximately $310 million, with FY 2025 pro forma net revenue of approximately $400 million. The company also reported Q4 2025 Adjusted EBITDA between $77 million and $81 million and $148 million in cash and short-term investments as of December 31, 2025.
- The company introduced FY 2026 revenue guidance of $300 million to $320 million, including $150 million to $170 million for DefenCath, and expects FY 2026 Adjusted EBITDA between $100 million and $125 million. CorMedix anticipates a significant reduction in DefenCath net pricing in Q3 and Q4 of 2026 due to reimbursement changes, but estimates 2027 DefenCath sales in the range of $100 million to $140 million based on a potentially higher 2027 Add-On Adjustment.
- Joseph Todisco, CEO, will also assume the role of Chairman of the Board of Directors, and Mr. Mike Seckler was appointed as EVP & Chief Commercial Officer. Mr. Todisco's annual base salary increased to $750,000 and his target annual bonus opportunity increased to 75% of his base salary for fiscal year 2026.
- CorMedix expects clinical data from the Phase 3 ReSPECT study of REZZAYO in Q2 2026 and continues enrollment for the Phase 3 study of taurolidine/heparin catheter lock solution in TPN patients, with targeted completion in early 2027.
Jan 8, 2026, 1:15 PM
CorMedix Therapeutics Announces Leadership and Board Updates
CRMD
CEO Change
Board Change
Management Change
- Joseph Todisco, CEO of CorMedix Therapeutics, has signed an extended employment contract and will also assume the role of Chairman of the Board of Directors, succeeding Myron Kaplan.
- Myron Kaplan, the former Chairman, will transition into the newly created board position of Lead Independent Director.
- CorMedix has appointed Mike Seckler as EVP & Chief Commercial Officer, bringing extensive experience across multiple therapeutic areas.
Jan 8, 2026, 1:05 PM
CorMedix Therapeutics Announces Preliminary Q4 and FY 2025 Results and 2026 Guidance
CRMD
Earnings
Guidance Update
Revenue Acceleration/Inflection
- CorMedix announced preliminary unaudited Q4 2025 net revenue of $127 million and FY 2025 net revenue of $310 million, with FY 2025 Pro Forma net revenue of $400 million.
- The company expects preliminary unaudited Q4 2025 Adjusted EBITDA between $77 million and $81 million, and reported cash and short-term investments of approximately $148 million as of December 31, 2025.
- CorMedix introduced FY 2026 revenue guidance of $300 million to $320 million, including $150 million to $170 million for DefenCath, and FY 2026 Adjusted EBITDA guidance of $100 million to $125 million.
- DefenCath's net pricing is expected to significantly decline in Q3 and Q4 2026 due to changes in TDAPA reimbursement, but the 2027 Add-On Adjustment is estimated to be 3x – 5x higher than H2 2026, leading to an estimated FY 2027 DefenCath sales range of $100 million to $140 million.
- Clinical data from the Phase 3 ReSPECT study of REZZAYO is expected in Q2 2026.
Jan 8, 2026, 1:00 PM
CorMedix Therapeutics Announces Positive Interim DefenCath Study Results and Melinta Acquisition
CRMD
M&A
New Projects/Investments
- CorMedix Therapeutics announced positive interim results from an ongoing real-world evidence study of DefenCath, its product for preventing catheter-related bloodstream infections (CRBSI) in adult hemodialysis patients.
- The study, which began in July 2024 and analyzed data through September 30, 2025, for approximately 7,000 patients, demonstrated a 72% reduction in CRBSI and a 70% reduction in hospitalizations secondary to CRBSI compared to historical controls.
- CorMedix is utilizing these results in discussions with customers and payers, including Medicare Advantage, to broaden access and establish long-term reimbursement, highlighting the potential for significant healthcare cost savings.
- Additionally, CorMedix expanded its product portfolio by acquiring Melinta Therapeutics LLC in August 2025.
Dec 18, 2025, 1:00 PM
CorMedix Reports Strong Q3 2025 Financial Results and Provides Pipeline Updates
CRMD
Earnings
M&A
New Projects/Investments
- CorMedix reported net revenue of $104.3 million for Q3 2025, marking a $77.5 million increase year-over-year, with $88.8 million from DefenCath sales and $15.5 million contributed by the Melinta acquisition, which closed on August 29, 2025.
- The company achieved net income of $108.6 million, or $1.26 per diluted share, in Q3 2025, driven significantly by a $59.7 million tax benefit from the realization of deferred tax assets. Adjusted EBITDA for the quarter was $71.8 million.
- CorMedix anticipates capturing $30 million in run-rate synergies from the Melinta acquisition, with these synergies expected to be realized in the P&L starting in Q4 2025. A unified sales organization will begin supporting all promoted products, including DefenCath and Rezeo, in early Q1 2026.
- Top-line results from the global phase three RESPECT study for Rezeo, targeting a >$2 billion market for prophylaxis of invasive fungal infections, are expected in Q2 2026. The phase three NutriGuard study for DefenCath, addressing a market of up to $750 million, is anticipated to complete by the end of 2026 or early 2027.
- Interim results from the real-world evidence study for DefenCath, which includes approximately 2,000 patients, are expected by the end of 2025.
Nov 12, 2025, 1:30 PM
CorMedix Reports Record Q3 2025 Results and Raises Full-Year Guidance
CRMD
Earnings
Guidance Update
M&A
- CorMedix reported record Q3 2025 revenue of $104.3 million, net income of $108.6 million (including a $59.7 million tax benefit), and adjusted EBITDA of $71.8 million.
- The company raised its pro forma combined full-year 2025 revenue guidance to $390-$410 million (previously a minimum of $375 million) and increased its pro forma fully synergized adjusted EBITDA guidance for 2025 to $220-$240 million (previously $165-$185 million).
- Following the acquisition of Melinta Therapeutics, CorMedix expects to capture approximately $30 million of the projected $35-$45 million total synergies on a run-rate basis before the end of 2025. The company is rebranding as CorMedix Therapeutics.
- CorMedix made a strategic minority investment in Telfera, Inc., securing a right of first negotiation to acquire Telfera after its phase three results, anticipated in the first half of 2026.
- Key pipeline updates include the phase three RESPECT study for Rezeo, with top-line results expected in Q2 2026, and the phase three NutriGuard study for DefenCath, anticipated to complete by the end of 2026 or early 2027.
Nov 12, 2025, 1:30 PM
CorMedix Announces Record Q3 2025 Results and Raises Full-Year Guidance Following Melinta Acquisition
CRMD
Earnings
Guidance Update
M&A
- CorMedix completed the acquisition of Melinta Therapeutics in Q3 2025, leading to a rebranding as CorMedix Therapeutics and an expectation to capture $30 million of the projected $35 million-$45 million in total synergies on a run-rate basis by the end of 2025.
- The company reported record Q3 2025 financial results, including $104.3 million in revenue, $108.6 million in net income (or $1.26 per diluted share), and $71.8 million in adjusted EBITDA.
- CorMedix raised its pro forma combined full-year 2025 revenue guidance from a minimum of $375 million to a range of $390 million-$410 million, and increased its pro forma fully synergized adjusted EBITDA guidance from $165 million-$185 million to $220 million-$240 million.
- For Q4 2025, the company is guiding to net revenue in the range of $115 million-$135 million and anticipates ending the year with approximately $100 million of cash and cash equivalents.
- Key pipeline updates include the completed enrollment for the Phase III ReSPECT study for REZZAYO prophylaxis, with top-line results expected in Q2 2026, and the expansion of the Phase III Nutri-Guard study for DefenCath.
Nov 12, 2025, 1:30 PM
Quarterly earnings call transcripts for CorMedix.
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