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Investing.com - CorMedix Inc . (NASDAQ:CRMD) shares gained Tuesday after Truist Securities reiterated its buy rating and $20.00 price target following the company’s announcement of expanded DefenCath implementation. Want deeper insights into CRMD’s valuation metrics and growth potential? InvestingPro subscribers get access to exclusive Fair Value analysis and detailed financial health scores.
The company revealed Tuesday that its large dialysis organization (LDO) customer has officially implemented DefenCath with a rollout targeting 6,000 patients, which is 2,000 more than initially contracted. This implementation occurred before the end of the second quarter of 2025, prompting management to raise its quarterly guidance by approximately $7 million.
CorMedix indicated the increased guidance also includes incremental upside from progress in the inpatient market, where a newly dedicated sales team is beginning to show results. The company views the inpatient opportunity as potentially similar in size to a medium dialysis organization.
The LDO’s 50% increase in patient utilization represents a validating step for DefenCath, with potential for the treatment to become the standard of care. Truist Securities noted there is potential for the LDO to expand DefenCath across all of its approximately 40,000 patients and for existing medium dialysis organizations to broaden utilization rates.
Beyond the current end-stage renal disease indication, CorMedix is pursuing additional applications for DefenCath, including total parenteral nutrition (TPN), which could add $150 million in peak annual sales, and oncology, which could at minimum double the current indication’s market opportunity.
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