CorMedix Shares Rise 21% After Preliminary 4Q Results Beat Estimates

Dow Jones

Jan 07, 2025

By Kailyn Rhone

Shares of CorMedix were higher after the company reported preliminary fourth-quarter results that beat the company's and analysts' expectations.

The company's stock increased 21% to $9.63 in morning trading Tuesday. For the year, shares are up 23%.

CorMedix said it is shipping DefenCath, its tool to reduce the incidence of catheter-related bloodstream infections, to all three of its mid-sized dialysis operator customers and has seen continuous ordering of increasing sizes throughout the quarter.

The Berkeley Heights, N.J.-based pharmaceutical company also announced a deal with Syneos Health for inpatient expansion and to reinforce its commitment to grow DefenCath across settings of care.

The company said Tuesday that it sees fourth-quarter revenue of $31 million, surpassing analysts' expectations of $19.7 million, according to FactSet.

CorMedix also sees full-year sales of around $43 million, beating the $32 million analysts polled by FactSet expected.

The company's preliminary results surpassed its guidance of becoming breakeven by year-end, said Chief Executive Joe Todisco.

"I believe we begin 2025 in a strong position," Todisco said.

Write to Kailyn Rhone at kailyn.rhone@wsj.com

(END) Dow Jones Newswires

January 07, 2025 10:37 ET (15:37 GMT)

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For the year, shares are up 23%. \n\n\n  CorMedix said it is shipping DefenCath, its tool to reduce the incidence of catheter-related bloodstream infections, to all three of its mid-sized dialysis operator customers and has seen continuous ordering of increasing sizes throughout the quarter. \n\n\n  The Berkeley Heights, N.J.-based pharmaceutical company also announced a deal with Syneos Health for inpatient expansion and to reinforce its commitment to grow DefenCath across settings of care. \n\n\n  The company said Tuesday that it sees fourth-quarter revenue of $31 million, surpassing analysts' expectations of $19.7 million, according to FactSet. \n\n\n  CorMedix also sees full-year sales of around $43 million, beating the $32 million analysts polled by FactSet expected. \n\n\n  The company's preliminary results surpassed its guidance of becoming breakeven by year-end, said Chief Executive Joe Todisco. \n\n\n  \"I believe we begin 2025 in a strong position,\" Todisco said. \n\n\n \n\n\n  Write to Kailyn Rhone at kailyn.rhone@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 07, 2025 10:37 ET (15:37 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"2","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}