Strong First Quarter Net Sales
CorMedix reported strong first quarter net sales of $39.1 million, consistent with earlier pre-announced results.
Profitability Achieved
CorMedix achieved profitability for the first quarter with a net income of $20.6 million, or $0.32 per share, compared to a net loss of $14.5 million in the first quarter of 2024.
Adjusted EBITDA Exceeds Expectations
The adjusted EBITDA for the first quarter of $23.6 million was slightly above the company's earlier pre-announcement.
Optimistic Revenue Guidance for First Half of 2025
CorMedix updated the net revenue guidance for DefenCath sales toward the upper end of the range, projecting approximately $70 million for the first half of the year.
Phase 3 Clinical Study Initiated
CorMedix has begun its Phase 3 clinical study for the reduction of central line-associated bloodstream infections, with the first site operational and screening patients.
Cash and Cash Equivalents Increase
The company has cash and cash equivalents of $77.5 million as of March 31, 2025, with net cash provided by operations during the first quarter of $19.7 million.