CorMedix (CRMD) Reports Expanded Utilization and Revised Q2 Sales Guidance

By Philip Seaworth • Monday, June 23 10:02 • Permanent Link

Cormedix Inc. (NASDAQ: CRMD) has recently announced an update on its customer implementation plans, revealing significant changes in its second quarter net sales guidance and expanded utilization of its product.

The company's large dialysis organization (LDO) customer has initiated ordering and will start implementing Defencath in its patients. The implementation is expected to target at least 50% more patients than previously communicated, with potential for further expansion. This has led to an amendment of the existing agreement with the LDO customer to accommodate the anticipated increased use of the product.

As a result of this expanded utilization and other positive business developments, Cormedix has revised its second quarter net sales guidance from the previously communicated $31 million to a range of $35 million to $40 million. The CEO, Joseph Todisco, expressed excitement about the implementation, highlighting the potential access to Defencath for thousands of adult patients at risk for catheter-related bloodstream infections.

The company's focus on commercializing its lead product, Defencath, which was FDA-approved in 2023, has been evident with its commercial launch in inpatient and outpatient settings. Cormedix is also commencing clinical studies in total parenteral nutrition and pediatric patient populations in 2025, with intentions to develop Defencath as a catheter lock solution for use in other patient populations.

These developments reflect Cormedix's commitment to broadening access to Defencath, emphasizing its importance in reducing infections related to catheter use in various patient populations.

This update signifies a noteworthy shift in Cormedix's sales guidance and customer implementation plans, indicating positive momentum for the company as it seeks to address life-threatening conditions and diseases through its therapeutic products.

This article has been created based on the provided press release and does not contain any personal opinions or independent research. As a result of these announcements, the company's shares have moved 0.22% on the market, and are now trading at a price of $13.61. For more information, read the company's full 8-K submission here.

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