CorMedix Inc
NASDAQ:CRMD
CorMedix Inc
CorMedix, Inc. operates as a pharmaceutical and medical device company. The company is headquartered in Berkeley Heights, New Jersey and currently employs 29 full-time employees. The company went IPO on 2010-03-25. The firm is focused on developing and commercializing therapeutic products for the prevention and treatment of infectious and inflammatory diseases. The firm's primary focus is on the development of its product candidate, DefenCath. The firm has in-licensed the rights to develop and commercialize its product candidate DefenCath. The DefenCath is a novel anti-infective solution intended for the reduction of catheter-related infections in patients requiring central venous catheters in clinical settings such as hemodialysis, total parenteral nutrition, and oncology. DefenCath product is available in Europe and other territories under the brand name Neutrolin.
CorMedix, Inc. operates as a pharmaceutical and medical device company. The company is headquartered in Berkeley Heights, New Jersey and currently employs 29 full-time employees. The company went IPO on 2010-03-25. The firm is focused on developing and commercializing therapeutic products for the prevention and treatment of infectious and inflammatory diseases. The firm's primary focus is on the development of its product candidate, DefenCath. The firm has in-licensed the rights to develop and commercialize its product candidate DefenCath. The DefenCath is a novel anti-infective solution intended for the reduction of catheter-related infections in patients requiring central venous catheters in clinical settings such as hemodialysis, total parenteral nutrition, and oncology. DefenCath product is available in Europe and other territories under the brand name Neutrolin.
Revenue beat: Q4 net revenue was $128.6 million, driven by DefenCath ($91.2M) and a full-quarter contribution from the Melinta portfolio ($37.4M).
Guidance: The company affirmed 2026 revenue guidance of $300M–$320M and adjusted EBITDA guidance of $100M–$125M, and gave DefenCath revenue ranges of $150M–$170M for 2026 and $100M–$125M for 2027.
TDAPA transition: Management reiterated that DefenCath reimbursement will move to a bundled add-on on July 1, 2026, and expects price erosion in H2 2026 with potential price recovery in 2027 assuming CMS methodology.
Clinical catalysts: Phase III ReSPECT top-line data for REZZAYO prophylaxis is expected in Q2 2026; DefenCath Nutri-Guard trial for CLABSI prevention in TPN patients is ~30% enrolled and on track to complete in early 2027.
Cash & M&A: Quarter-end cash and short-term investments were $148.5M, operating cash flow was ~ $100M for the quarter, the Melinta acquisition closed in Aug 2025 and integration achieved targeted $35M synergies in Q4 2025, and the company is running a share repurchase program.
