CorMedix Q1 results beat on Defencath sales, raises outlook

CorMedix

14/05/2026 12:40

Overview

US biopharma firm's Q1 revenue rose sharply, beating analyst expectations

Adjusted EPS for Q1 beat analyst expectations

Company raised full-year 2026 revenue and adjusted EBITDA guidance

Outlook

CorMedix raises 2026 net revenue guidance to $325 mln-$345 mln

Company lifts 2026 adjusted EBITDA outlook to $115 mln-$135 mln

CorMedix expects to submit sNDA for REZZAYO in H2 2026, targeting commercial launch in 2027

Result Drivers

DEFENCATH SALES - Higher utilization by outpatient dialysis customers and onboarding of a large dialysis organization drove DefenCath sales, with a $9 mln non-recurring favorable change in sales allowance estimates

MELINTA PORTFOLIO - Revenue from acquired Melinta products contributed $29.9 mln, reflecting typical first quarter purchasing patterns

Company press release: ID:nGNX4q1c8x

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$127.4 mln
$105.02 mln (7 Analysts)
Q1 EPS
Beat
$0.43
$0.36 (7 Analysts)
Q1 Net Income
Beat
$38.6 mln
$34.56 mln (6 Analysts)
Q1 Basic EPS
$0.48


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 is $14.00, about 86.7% above its May 13 closing price of $7.50

The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 6 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)