CorMedix delivered a dramatic 2025 reset with total revenues rising to $311.7 million from $43.5 million in 2024, led by DefenCath generating $258.8 million. Momentum continued into the first quarter of 2026 with net revenues of $127.4 million, though a non-recurring $9 million favorable change in estimate tied to sales allowances boosted results. The company holds $178.1 million in cash and investments against $145 million in long-term debt, funding operations through at least mid-2027. However, DefenCath is transitioning from Transitional Drug Add-on Payment Adjustment support to a post-payment add-on phase, expected to pressure net pricing in the second half of 2026. CorMedix also faces competition from Pfizer and Amphastar Pharmaceuticals, while preparing for a potential Rezzayo launch in a new prophylaxis indication with a regulatory filing targeted for the second half of 2026.
Amphastar P
Pfizer IncCorMedix IncTotal revenues surged to $311.7M from $43.5M, with strong Q1 2026 net revenues of $127.4M.