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Gotrade News - CorMedix (CRMD) reported third-quarter 2026 consolidated revenue of $54.5 million and a net loss of $14.7 million, or $(0.19) per share, on Thursday, November 12, 2026, according to CorMedix's official release. The company kept its full-year 2026 revenue guidance of $325 to $345 million.
Regular-session close on November 12, 2026, New York time. Prices and changes: Yahoo Finance, cross-checked against the closing price on Nasdaq.com. Market cap: that close times the shares outstanding on the latest 10-Q or 10-K cover (SEC EDGAR).
CorMedix Earnings Details
For the quarter ended September 30, 2026, revenue was made up of $17.2 million in DefenCath sales and $37.3 million from the rest of the portfolio, compared with $104.3 million in total revenue a year earlier. The company said DefenCath sales fell largely because of its transition to the post-TDAPA period on July 1, 2026, which resulted in lower net pricing.
The net loss compares with net income of $108.6 million, or $1.42 and $1.26 per basic and diluted share, in the third quarter of 2025, which included a one-time tax benefit of $59.7 million. The latest quarter included $11.5 million of non-cash expense from the remeasurement of contingent consideration tied to the Melinta acquisition. Adjusted EBITDA, a non-GAAP measure, was $3.1 million, compared with $71.9 million a year earlier.
CorMedix narrowed adjusted EBITDA guidance to $130 to $140 million from $125 to $140 million and suspended previously issued 2027 DefenCath revenue guidance, citing recently announced changes to the CMS reimbursement framework. Cash and short-term investments, excluding restricted cash, totaled $355.2 million at September 30, 2026.
Why It Matters for CRMD
The company described the quarter as reflecting "steady third quarter execution in the face of post-TDAPA headwinds for DefenCath." It also pointed to its planned acquisition of substantially all of the assets of Heron Therapeutics, announced on November 9, 2026, which it anticipates closing in the first quarter of 2027, subject to Heron stockholder approval, regulatory clearance and other customary conditions.
Chairman and CEO Joseph Todisco said the Heron assets carry an anticipated revenue contribution of between $125 million and $150 million for full-year 2027, and that the company expects the deal to "effectively double the Company's non-DefenCath annual product revenue." He added that the FDA granted Priority Review to the REZZAYO prophylaxis sNDA, with a PDUFA date in the first quarter of 2027.
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M. Alfathan Rahman is a content writer with over 3 years of experience developing digital content strategies across various industries, including fintech. He has experience producing content for tax-related websites and financial education platforms. His focus areas include data research, and crafting financial articles that are informative, accurate, and accessible to investors of all experience levels.
