CORRECTED-Pharmaceutical firm CorMedix misses Q4 profit expectations, reiterates 2026 revenue forecast

Overview

• Biopharmaceutical firm's Q4 2025 net revenue was $128.6 mln, driven by DefenCath sales

• Q4 net income of $14 mln missed analyst expectations

• Company announced $75 mln share repurchase program

Outlook

• CorMedix expects 2026 net revenue between $300 mln and $320 mln

• Company projects 2026 adjusted EBITDA between $100 mln and $125 mln

• CorMedix anticipates Phase 3 ReSPECT study data in Q2 2026

Result Drivers

• DEFENCATH SALES - Q4 net revenue of $128.6 mln largely driven by DefenCath sales, contributing $91.2 mln

• MELINTA ACQUISITION - Melinta portfolio contributed $37.4 mln to Q4 revenue, marking first full quarter post-acquisition

• INCREASED OPERATING EXPENSES - Q4 operating expenses rose to $48.2 mln, driven by Melinta acquisition costs and R&D investments

Company press release: ID:nGNX27NWYd

Key Details

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 $15.00, about 110.7% above its March 4 closing price of $7.12

• The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 4 three months ago

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