- CorMedix said it was raising its fiscal 2025 pro forma net revenue guidance to at least $375 million.
- The company said the third-quarter unaudited DefenCath net revenue came in at more than $85 million.
- DefenCath is a drug used for the prevention of catheter-related bloodstream infections in adult patients undergoing hemodialysis via a central venous catheter.
CorMedix Inc. (CRMD) stock became the top trending ticker on Stocktwits after the shares jumped 12% in premarket trading following the biopharmaceutical company raising its annual net revenue forecast on Monday.
The company said it was raising its fiscal 2025 pro forma net revenue guidance to at least $375 million, up from a prior forecast of $325 million to $350 million.
What Is The Company’s Expectation For Q3?
CorMedix said that preliminary third-quarter unaudited results showed net revenue of more than $100 million, including at least $85 million for DefenCath, and preliminary pro forma third-quarter unaudited company net revenue of more than $125 million.
CorMedix has been working on DefenCath (taurolidine and heparin) for the prevention of catheter-related bloodstream infections in adult patients undergoing hemodialysis via a central venous catheter.
The company said DefenCath revenue growth has been driven by stronger-than-projected utilization by the company’s Large Dialysis Organization (LDO) customer, as well as continued utilization growth with other customers.
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