CorMedix (CRMD) Corporate presentation summary

Business overview and strategy

• Focuses on innovative specialty injectable therapies for institutional markets, with a scalable commercial platform and diversified product portfolio including eight products such as DefenCath and REZZAYO.

• Revenue guidance for 2026 is $300–320 million, with adjusted EBITDA of $100–125 million, and high visibility into revenue streams.

• Growth driven by pipeline expansion, label extensions, and government partnerships, with a platform enabling both organic growth and bolt-on acquisitions.

• Products are sold to over 500 hospitals, infusion centers, and clinics, supported by an integrated commercial team.

Financial highlights

• As of December 31, 2025, cash and short-term investments total $149 million, with 79.1 million shares outstanding.

• FY 2025 pro forma net revenue was $401 million, with Q4 2025 net revenue at $129 million and adjusted EBITDA at $77 million.

• FY 2026 revenue guidance is $300–320 million, with DefenCath sales projected at $150–170 million.

Product portfolio and market position

• Portfolio includes DefenCath (catheter lock solution), REZZAYO (once-weekly echinocandin), Minocin, Vabomere, Kimyrsa, Orbactiv, Baxdela, and Toprol-XL.

• DefenCath is the first FDA-approved catheter lock solution reducing CRBSI risk, with strong uptake in the hemodialysis market and agreements covering ~60% of outpatient dialysis.

• REZZAYO offers once-weekly dosing for candidemia and invasive candidiasis, with strong commercial uptake and patent protection through 2038.

• Minocin, Vabomere, and the ORI franchise are differentiated anti-infectives with significant IP coverage and strong revenue contributions.