CorMedix Reports Impressive Q3 Financials

By Tamara Parker • Monday, October 20 15:39 • Permanent Link

Cormedix Inc. has just released its preliminary unaudited financial results for the third quarter of 2025, and the figures are impressive. The company reported unaudited net revenue of over $100 million for the third quarter, with more than $85 million attributed to its flagship product, Defencath. The company's unaudited pro forma net revenue for the third quarter is more than $125 million.

The strong performance of Defencath has prompted Cormedix to raise its full-year 2025 pro forma net revenue guidance from the previously announced range of $325-$350 million to at least $375 million. This is a significant upward adjustment, indicating the company's confidence in its continued growth.

Cormedix also expects its adjusted EBITDA for the third quarter of 2025 to be at least $70 million, further underlining its robust financial performance during this period.

Furthermore, the company has made substantial progress in integrating the recently acquired Melinta portfolio, forecasting cost synergy capture of at least $30 million on a go-forward run-rate basis before the end of the fourth quarter of 2025. This integration is expected to yield even more cost synergies in the range of $5-$15 million in 2026.

In terms of its clinical trials, Cormedix announced the completion of enrollment in the ongoing Phase III Respect study of Rezayyo for the prophylaxis of fungal infection in adult patients undergoing allogeneic blood and marrow transplant. The company anticipates sharing clinical data in the second quarter of 2026 and believes the total addressable market for prophylaxis exceeds $2 billion.

Finally, the company's cash, cash equivalents, and short-term investments as of September 30, 2025, stood at approximately $56 million, with a projected year-end cash and cash equivalent balance of approximately $100 million.

Cormedix's updated financial guidance and strong performance in the third quarter of 2025 reflect its continued growth trajectory and strategic advancements, positioning the company for further success in the biopharmaceutical industry. Today the company's shares have moved 0.99% to a price of $10.18. For more information, read the company's full 8-K submission here.

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