CorMedix Inc (Nasdaq: CRMD), a biopharmaceutical company focused on the development and commercialization of therapeutic products for life-threatening diseases and conditions, today announced an update on its client Large Dialysis Organization (LDO) and its planned implementation in the second half of 2025.
CorMedix's LDO customer has started the ordering process and will begin implementing DefenCath in its patients. The implementation will initially target at least 50% more patients than previously communicated, with the possibility of further expansion. In connection with this expanded use, CorMedix has amended the existing agreement with the LDO customer to reflect the expected increased use of the product. CorMedix expects a moderate contribution to revenue in June, with growth expected in the second half of 2025.
As a result of this new customer implementation and other positive business developments, CorMedix is increasing its net revenue guidance for the second quarter from the previously communicated USD 31 million to a range of USD 35 to 40 million.
"I am pleased to announce that our customer LDO is moving forward with the implementation of DefenCath. The implementation of our product will provide access to DefenCath for thousands of adult patients at risk of catheter-related bloodstream infections," said Joseph Todisco, CEO of CorMedix. "CorMedix remains committed to its goal of ensuring broad access to this important infection reduction mechanism."
