CorMedix Inc ( CRMD ) shares are hitting new 52-week highs on Monday after the company raised its sales guidance for the second quarter.

What Happened: CorMedix ( CRMD ) said one of its Large Dialysis Organization (LDO) customers has started ordering with planned implementation in the second half of 2025.

The company said that implementation of its DefenCath catheter lock solution will initially target at least 50% more patients than previously planned with opportunity for even further expansion.

As a result, CorMedix ( CRMD ) made adjustments to its agreement with the customer and now expects a modest revenue increase in June with continued growth anticipated in the second half of the year. The company updated its second-quarter net sales guidance from $31 million to a range of $35 million to $40 million to reflect the expected increased use of product by the customer.

“Their implementation of our product will provide access to DefenCath for thousands of adult patients at risk for catheter related bloodstream infections,” said Joseph Todisco, CEO of CorMedix ( CRMD ).

D. Boral Capital analyst Jason Kolbert maintained CorMedix ( CRMD ) with a Buy rating on Monday and reiterated a price target of $15.

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CRMD Price Action: CorMedix ( CRMD ) shares were up 23% at $16.74 at the time of publication Monday, according to Benzinga Pro. CorMedix ( CRMD ) has traded as low as $3.61 over the past year. The stock is up approximately 111% on a year-to-date basis.

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