CorMedix reports its first profitable quarter with $31.2M in Q4, projecting $50-$60M for H1 2025.

CorMedix, a biopharmaceutical company, reported its first profitable quarter with a net revenue of $31.2 million in Q4 2024, and full-year revenue of $43.5 million. The company's lead product, DefenCath, has seen increased utilization at large hospitals. CorMedix expects $50-$60 million in net revenue for the first half of 2025 and plans a Phase 3 study for DefenCath in TPN patients, seeking Orphan Drug Status from the FDA. The company's stock has a "buy" rating with a price target of $16.00.