Cormedix Stock Soars Pre-Market After Earnings Beat, Higher Full-Year Guidance

• For the third quarter, the company reported net revenue of $104.3 million, up from the $11.5 million reported in the corresponding quarter of 2024.
• The growth in revenue was driven by higher-than-expected utilization of DefenCath by outpatient dialysis customers, the company said.
• Adjusted earnings before interest, taxes, depreciation and amortization in Q3 came in at $71.9 million, above an expected $40.65 million.

Shares of CorMedix Inc. (CRMD) soared 9% in the pre-market session on Wednesday after the company raised its full-year revenue guidance on the heels of upbeat Q3 earnings.

The company now expects pro forma net revenue for the full year in a range of $390 million to $410 million, up from its September guidance of $325 to $350 million and higher than a Wall Street estimate of $283.66 million.  

Fully synergized pro forma adjusted earnings before interest, taxes, depreciation and amortization for 2025 are now expected in a range of $220 – $240 million, higher that the previously estimated $165 million – $185 million.

Q3 Numbers Beat Wall Street Expectations

For the third quarter, the company reported net revenue of $104.3 million, up from the $11.5 million reported in the corresponding quarter of 2024, and above an analyst estimate of $86.02 million.

The growth in revenue was driven by higher-than-expected utilization of DefenCath by outpatient dialysis customers, the company said. DefenCath is an FDA-approved catheter lock solution used to reduce catheter-related bloodstream infections in adult patients undergoing chronic hemodialysis through a central venous catheter. It contributed about 85% of the company’s net revenue in the quarter, the company noted.

Adjusted earnings before interest, taxes, depreciation and amortization in Q3 came in at $71.9 million, above an expected $40.65     million.

Diluted earnings per share in the quarter was at $1.26, above an expected $0.63.

Melinta Therapeutics Acquisition

Cormedix completed the acquisition of Melinta for an upfront consideration of $300 million on August 29. The company now expects synergy capture of approximately $30 million, of the total estimated $35 – $45 million, on an annual run-rate basis before the end of 2025.

Sales of Melinta’s portfolio of anti-infective products also aided Cormedix’s revenue in the third quarter.

How Did Stocktwits Users React?

On Stocktwits, retail sentiment around CRMD stock jumped from ‘bearish’ to ‘neutral’ territory over the past 24 hours, while message volume rose from ‘low’ to ‘normal’ levels.

CRMD stock is up by 38% this year but down by 4% over the past 12 months. 

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