Full Press Release Details
Inc. announces customer IMPLEMENTATION
Heights, NJ - June 23, 2025 - CorMedix Inc. (Nasdaq: CRMD), a biopharmaceutical company focused on developing and
commercializing therapeutic products for life-threatening diseases and conditions, today announces an update related to its Large Dialysis
Organization (LDO) customer and planned implementation in the second half of 2025.
LDO customer has commenced ordering and will begin the implementation of DefenCath in its patients. Implementation will initially target
at least 50% more patients than previously communicated, with the opportunity for further expansion. In connection with this expanded
utilization, CorMedix has amended its existing agreement with the LDO customer to reflect the anticipated increased use of product. CorMedix
expects a modest revenue contribution in June, with growth expected over the back half of 2025.
a result of this new customer implementation and other positive business developments, CorMedix is increasing its second quarter net
sales guidance from the previously communicated $31mm to a range of $35mm to $40mm.
am excited to announce that our LDO customer is moving forward with the implementation of DefenCath. Their implementation of our product
will provide access to DefenCath for thousands of adult patients at risk for catheter related bloodstream infections," says CorMedix
CEO, Joseph Todisco. "CorMedix remains committed to our goal of ensuring broad access to this important infection reduction mechanism."
Inc. is a biopharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of
life-threatening conditions and diseases. The Company is focused on commercializing its lead product DefenCath (taurolidine
and heparin) which was approved by the FDA on November 15, 2023. CorMedix commercially launched DefenCath in inpatient settings in April
2024 and in outpatient settings in July 2024. CorMedix is commencing clinical studies in Total Parenteral Nutrition and Pediatric patient
populations in 2025 and also intends to develop DefenCath as a catheter lock solution for use in other patient populations. For more
information visit: www.cormedix.com.
press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that
are subject to risks and uncertainties, including expectations regarding timing of implementation, patient utilization and enrollment,
the timing and volume of increased shipments, and expectations regarding future growth opportunities. Forward-looking statements are
often identified by the use of words such as, but not limited to, "anticipate," "believe," "can,"
"continue," "could," "estimate," "expect," "intend," "may," "will,"
"plan," "project," "seek," "should," "target," "will," "would,"
and similar expressions or variations intended to identify forward-looking statements. All statements, other than statements of historical
facts, regarding management's expectations, beliefs, goals, plans or CorMedix's prospects should be considered forward-looking
statements. Readers are cautioned that actual results may differ materially from projections or estimates due to a variety of important
factors, and readers are directed to the Risk Factors identified in CorMedix's filings with the SEC, including its Annual Report
on Form 10-K and its Quarterly Reports on Form 10-Q, copies of which are available free of charge at the SEC's website at www.sec.gov
or upon request from CorMedix. CorMedix may not actually achieve the goals or plans described in its forward-looking statements, and
such forward-looking statements speak only as of the date of this press release. Investors should not place undue reliance on these statements.
CorMedix assumes no obligation and does not intend to update these forward-looking statements, except as required by law.