$CRMD

CorMedix shares fall as 2026 revenue outlook disappoints
CorMedix Therapeutics (CRMD) shares slipped nearly 30% during early trading hours on Thursday after the firm said that it expects FY 2026 revenue to reach $300M–$320M versus a consensus of $454M. For 2026, the firm expects DefenCath revenue between $150M and $170M vs. a consensus of $265 million. The biopharmaceutical company also announced on Thursday its preliminary net revenue of $127M for the fourth quarter versus consensus revenue estimates of $123.3M and revenue of $310M for FY 2025. The company reported its preliminary unaudited cash and short-term investments, as of December 31, 2025, of approximately $148 million. In a separate announcement, the company also appointed Mike Seckler to the role of EVP & chief commercial officer. Seckler’s previous experience includes roles as COO of FerGene, a Blackstone Life Sciences and Ferring Pharmaceuticals joint partnership gene therapy company. The firm also stated that CEO Joseph Todisco has signed an extended employment contract, reaffirming his long-term commitment to the organization. In addition to his role as CEO, Todisco will also assume the role of chairman of the board of directors, succeeding Myron Kaplan. Kaplan will transition into a newly created board position of Lead Independent Director, the company said.
The company isn’t going bankrupt, but the growth story took a serious hit. The market usually overreacts to bad news. This reaction could also continue. The 32% drop may have priced in the worst-case scenario. We can’t know yet where it will form a bottom. But $7.16 is a very strong support.

The company actually beat expectations in the last quarter (Q4 2025) ($127M vs $123.3M). So the company is making money right now, only the growth rate is slowing.

The CEO renewing his contract and the appointment of a new Chief Commercial Officer (CCO) show that management isn’t abandoning ship and can change strategy to increase sales 🤞