Full Press Release Details
Inc. announces preliminary Fourth quarter 2024 results and provides business update
Net Revenue of Approximately $31mm
Net Revenue of Approximately $43mm
Adjusted EBITDA to Exceed $12mm
NJ - January 7, 2025 - CorMedix Inc. (Nasdaq: CRMD), a biopharmaceutical company focused on developing and commercializing
therapeutic products for life-threatening diseases and conditions, today announces its preliminary unaudited fourth quarter results and
provides an update on its business. These include the following key updates:
Joe Todisco, CorMedix
CEO, commented, "I'm proud to announce our preliminary Q4 results today, including surpassing our guidance of becoming breakeven
by year-end 2024. CorMedix continues to execute well on our key objectives particularly around our outpatient launch, and I am pleased
with the implementation efforts we have seen thus far from key customers in the outpatient segment. Today's announcement of our
agreement for inpatient expansion with Syneos Health reinforces our commitment to grow DefenCath across settings of care. I believe we
begin 2025 in a strong position and look forward to updating investors as we continue to execute over the months ahead."
preliminary financial information presented in this press release is based on CorMedix's current expectations and may be adjusted
as a result of, among other things, the completion of our internal review process and the completion of customary annual audit procedures.
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 adult Total Parenteral Nutrition (TPN) patients
and pediatric hemodialysis (HD) patient populations in 2025 and also intends to develop DefenCath as a catheter lock solution for use
in other therapeutic areas. For more information visit: www.cormedix.com.
Forward-Looking Statements
This 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 CorMedix's fourth quarter and full year 2024 unaudited net revenue, fourth quarter 2024 adjusted EBITDA,
cash and short-term investments as of December 31, 2024 and preliminary operating expense guidance for fiscal year 2025; the timing of
expected achievement of the LDO's targeted patient utilization; the timing of expected study enrollment for a final clinical study
protocol for DefenCath in TPN; and the timing of expected patient enrollment in a pediatric study for DefenCath in pediatric hemodialysis.
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