CorMedix Plunges 27% on Conservative $300–320M 2026 Revenue Guidance
CorMedix shares plunged 27.1% over three months after management set conservative 2026 revenue guidance of $300–320M, including $150–170M from DefenCath. August 2025 Melinta acquisition adds seven therapies, including Rezzayo, but guidance excludes upside from new accounts, limiting growth visibility.
1. Share Decline and 2026 Guidance
CorMedix shares fell 27.1% over the past three months underperforming industry gains after management issued 2026 revenue guidance of $300–320 million, including $150–170 million from DefenCath. The outlook assumes flat usage among existing customers and excludes potential upside from new account wins or reimbursement changes.
2. DefenCath Sales Performance
DefenCath recorded $167.6 million in net sales in the first nine months of 2025 and preliminary fourth-quarter revenues of approximately $127 million. As the only FDA-approved antimicrobial catheter lock solution, it remains the primary revenue driver but faces a cautious near-term adoption trajectory.
3. Melinta Acquisition Expands Portfolio
In August 2025 CorMedix acquired Melinta Therapeutics, adding seven approved therapies including Rezzayo for candidemia and invasive candidiasis. Rezzayo’s late-stage prophylaxis study top-line data are expected in the second quarter of 2026, offering potential upside beyond DefenCath.