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CorMedix Inc. (CRMD+1.81%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, showing revenue of $43.5 million from the sale of DefenCath, an FDA-approved antimicrobial catheter lock solution.
Cost of revenue was $3.2 million, resulting in a gross profit of $40.3 million.
Research and development expenses decreased to $3.9 million from $13.2 million in the previous year, attributed to the transition to commercial operations.
Selling and marketing expenses increased to $28.7 million from $18.1 million, primarily due to increased marketing efforts and personnel costs for the commercial launch of DefenCath.
General and administrative expenses rose to $30.0 million from $17.7 million, driven by additional personnel and consulting fees.
The company reported a net loss of $17.9 million, down from $46.3 million in the previous year, reflecting increased revenue and controlled expenses.
CorMedix had cash, cash equivalents, and short-term investments totaling $51.7 million as of December 31, 2024.
The company anticipates that its current cash resources and revenue from DefenCath will be sufficient to fund operations for at least the next twelve months.
CorMedix continues to focus on expanding the market for DefenCath and is exploring additional indications for its use.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the CorMedix Inc. annual 10-K report dated March 25, 2025. To report an error, please email earnings@qz.com.