CorMedix Stock Loses Almost A Third Of Its Market Cap After Downbeat H1 Revenue Outlook – But Retail Shrugs It Off
The company reported earnings of $0.22 per share compared with a loss of $0.26 per share in the corresponding period of 2023, owing to the launch of its lead product, DefenCath.
FollowCorMedix (CRMD), on Tuesday, lost nearly a third of its market capitalization after the company’s first-half 2025 outlook fell short of Wall Street estimates.
The company reported quarterly net revenue of $31.21 million, above an analyst estimate of $28.35 million, according to FinChat data.
The three months through the end of December also marked the company’s first profitable commercial quarter.
The company reported earnings of $0.22 per share compared with a loss of $0.26 per share in the corresponding period of 2023, driven by the launch of its lead product, DefenCath.
DefenCath reduces the occurrence of catheter-related bloodstream infections in adult patients with kidney failure receiving chronic hemodialysis through a central venous catheter.
It was approved by the Food and Drug Administration in late 2023 and launched by the company in inpatient settings in April and in outpatient settings in July.
The company's operating expenses in the fourth quarter rose by about 9% to $17.1 million, mostly due to the hiring of new personnel, including a sales force through 2024, and support for the commercial launch of DefenCath.
Research and development expenses, however, dropped by about 26%.
The company said it has enough resources to fund its operations for at least twelve months. As of the end of 2024, it had cash, cash equivalents, and short-term investments of $51.7 million.
The company now expects net revenue to range from $50 to $60 million for the first half of 2025, below an analyst estimate of $63.53 million, per FinChat data.
On Stocktwits, retail sentiment about the stock rose to ‘extremely bullish’ (86/100) from the ‘bullish’ territory, while message volume increased to ‘extremely high’ over the past 24 hours.
CRMD's Sentiment Meter and Message Volume as of 11:10 a.m. ET on March 25, 2025 | Source: Stocktwits
A Stocktwits user highlighted that they had purchased the shares.
Another user expressed optimism that the share price would rise back to $10.
CRMD stock is down over 10% this year but has gained over 70% in the past 12 months.
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