24/7 Market News Snapshot 07 January, 2025 – CorMedix Inc. (NASDAQ:CRMD)

January 7, 2025

DENVER, Colo., 07 January, 2025 (247marketnews.com) – (NASDAQ:CRMD) are discussed in this article.
CorMedix Inc. has demonstrated remarkable performance, opening at $8.18 and rising to $10.132, an increase of approximately 27.77%. This rally follows a previous close of $7.930 and has garnered significant attention from investors, as evidenced by a trading volume of 1.36 million shares. The positive price movement indicates a bullish sentiment surrounding the company, suggesting a potentially pivotal moment for current and prospective investors.

In conjunction with this market enthusiasm, CorMedix has announced promising preliminary financial results for the fourth quarter of 2024, projecting net revenues of approximately $31 million and an annual total nearing $43 million. The company anticipates an adjusted EBITDA that will exceed $12 million for the quarter, reflecting substantial operational advancements. Integral to this growth has been the successful shipment of DefenCath, CorMedix’s flagship product, to three midsized dialysis operator customers, with order volumes increasing throughout the quarter. Furthermore, the company holds over $25 million in open purchase orders scheduled for delivery in the first quarter of 2025.

Looking forward, CorMedix is set to expand the deployment of DefenCath in inpatient hospitals by collaborating with Syneos Health to create a specialized inpatient sales team. This strategic initiative aims to enhance the product’s market penetration and efficacy. Additionally, the company has submitted a final clinical study protocol concerning DefenCath for Total Parenteral Nutrition to the FDA, with patient enrollment expected in the first half of 2025, alongside plans for a pediatric hemodialysis study later in the year.

CEO Joe Todisco expressed satisfaction with the company’s achievements, highlighting the goal of reaching breakeven by the end of 2024. With a reported cash and short-term investments balance of approximately $52 million as of December 31, 2024, CorMedix is poised for significant future advancements while continuing to invest in research and development for new clinical opportunities.

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