CorMedix Therapeutics Inc. (NASDAQ:CRMD) raised its full-year 2026 revenue and adjusted EBITDA guidance after reporting strong first-quarter results driven by higher utilization of DefenCath and contributions from the acquired Melinta portfolio.
• Cormedix stock is surging to new heights today. Why is CRMD stock up today?
The company posted first-quarter net revenue of $127.4 million, up sharply from $39.1 million in the same period last year, beating the consensus of $105.02 million.
The institutional setting-focused company reported adjusted earnings of 43 cents, beating the consensus of 36 cents.
DefenCath Sales Drive Revenue Growth
DefenCath sales generated $97.5 million during the quarter, supported by growing demand from outpatient dialysis customers. Results also included a non-recurring favorable adjustment of approximately $9 million tied to certain sales allowances.
Revenue from the Melinta anti-infective portfolio totaled $29.9 million during the quarter. CorMedix completed the Melinta acquisition in August 2025.
Joseph Todisco, chairman and CEO, in an investor call, said, Cormedix is entering 2026 with strong momentum across our core priorities, delivering durable defend cath utilization growth, advancing high-value pipeline opportunities, and driving meaningful profitability and cash generation.”
The company increased its 2026 net revenue guidance to a range of $325 million to $345 million, up from prior guidance of $300 million-$320 million, compared to the consensus of $308.22 million.
Adjusted EBITDA guidance was also raised to between $115 million and $135 million.
Pipeline Programs Advance Toward Regulatory Milestones
The company said it is working with its global partner on a supplemental New Drug Application submission for REZZAYO for the prevention of invasive fungal diseases in adult stem cell transplant patients to the FDA in the second half of 2026, with a potential launch targeted for 2027.
CorMedix also said its Phase 3 study evaluating taurolidine/heparin catheter lock solution in total parenteral nutrition patients continues to enroll participants and remains on track for completion in 2028.
The company is seeking to accelerate enrollment by opening additional study sites and pursuing a protocol amendment with the FDA aimed at broadening patient eligibility.
CRMD Price Action: Cormedix shares were up 8.87% at $8.16 at the time of publication on Thursday, according to Benzinga Pro.
Over the past month, CRMD has gained about 16.7% versus a 8.8% rise in the S&P 500 and is down roughly 27% year-to-date compared to the index’s 9.1% gain.
Photo: MacroEcon / Shutterstock.
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