Overview

* CorMedix ( CRMD ) Q3 net income of $108.6 mln, beating analyst expectations

* Adjusted EPS for Q3 beats consensus, driven by DefenCath sales

* Company raises FY 2025 pro forma net revenue guidance to $390-$410 mln

Outlook

* CorMedix ( CRMD ) raises FY 2025 pro forma net revenue guidance to $390-$410 mln

* Company expects Q4 2025 net revenue between $115 mln and $135 mln

* CorMedix ( CRMD ) increases 2025 pro forma adjusted EBITDA guidance to $220-$240 mln

Result Drivers

* DEFENCATH SALES - Higher than expected utilization by outpatient dialysis customers drove DefenCath sales, contributing $88.8 mln to net revenue

* MELINTA ACQUISITION - Integration of Melinta Therapeutics ahead of schedule, capturing synergies of approximately $30 mln

* TAX BENEFIT - One-time tax benefit of $59.7 mln from deferred tax assets boosted net income

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS Beat $1.26 $0.65 (6

Analysts

)

Q3 Net Beat $108.60 $54.67

Income mln mln (6

Analysts

)

Q3 Basic $1.42

EPS

Q3 Cash $55.70

& mln

Investme

nts

Q3 $41.70

Operatin mln

g

Expenses

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "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 ( CRMD ) is $20.00, about 44.1% above its November 11 closing price of $11.19

* The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 8 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)