CorMedix Q3 revenue beats on higher sales from acquired Melinta portfolio
Overview
U.S. biopharma firm's Q3 revenue rose and beat analyst expectations
Q3 net loss widened and missed analyst expectations
Company announced acquisition of Heron Therapeutics assets, expects deal to close in Q1 2027
Outlook
CorMedix maintains FY 2026 consolidated revenue guidance of $325 mln to $345 mln
Company narrows FY 2026 adjusted EBITDA guidance to $130 mln to $140 mln from $125 mln to $140 mln
Company suspends previously issued 2027 DefenCath revenue guidance due to CMS reimbursement changes
Result Drivers
DEFENCATH PRICING PRESSURE - Co said DefenCath sales fell year over year due to lower net pricing after transition to post-TDAPA period
MELINTA PORTFOLIO IMPACT - Higher revenue from acquired Melinta portfolio partially offset decline in DefenCath sales, as Q3 2026 included a full quarter of sales versus one month in prior year
FAVORABLE SALES ALLOWANCE ESTIMATE - Q3 DefenCath revenue benefited from a $5 mln favorable change in estimate related to certain sales allowances
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $54.52 mln | $52.31 mln (5 Analysts) |
Q3 Loss Per Share | Miss | $0.19 | $0.12 (5 Analysts) |
Q3 Net Loss | Miss | $14.72 mln | $10.95 mln (4 Analysts) |
Q3 Loss Per Basic Share | $0.19 |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "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 183% above its November 11 closing price of $5.30
The stock recently traded at 48 times the next 12-month earnings vs. a P/E of 28 three months ago
Reuters Recommended Reads
Nov 9 - Heron Therapeutics Q3 net revenue falls 7.8%, to sell all assets to CorMedix
Nov 10 - Liquidia Q3 loss widens on litigation charge, negating Yutrepia demand
Nov 9 - Oncology firm Delcath Systems' Q3 revenue beats on Hepzato growth
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)