Biopharma firm CorMedix beats Q3 revenue estimates, raises FY guidance

Overview

• CorMedix's preliminary Q3 2025 revenue beats expectations, driven by strong DefenCath utilization

• Company raises FY 2025 revenue guidance to at least $375 mln

• CorMedix expects $30 mln operating synergy before year-end 2025

Outlook

• CorMedix raises FY 2025 pro forma net revenue guidance to at least $375 mln

• Company expects $30 mln in synergies by end of 2025

• CorMedix projects year-end cash balance of approximately $100 mln

Result Drivers

• DEFENCATH UTILIZATION - Stronger than expected utilization of DefenCath drove revenue growth

• MELINTA INTEGRATION - Integration of Melinta portfolio contributed to increased revenue guidance

• COST SYNERGIES - Significant progress on Melinta integration with expected cost synergies

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the pharmaceuticals peer group is "buy"

• Wall Street's median 12-month price target for CorMedix Inc is $20.50, about 50.3% above its October 17 closing price of $10.18

• The stock recently traded at 4 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release:

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