AcquisitionsNov 12, 2026, 08:01 AM
CorMedix to Acquire Heron Assets; Q3 Revenue $54.5M, Net Loss $14.7M
AI Summary
CorMedix Inc. announced its third-quarter 2026 financial results, reporting consolidated revenue of $54.5 million, surpassing analyst expectations. The company also revealed a net loss of $14.7 million and an Adjusted EBITDA of $3.1 million. A significant development is the definitive asset purchase agreement to acquire substantially all assets of Heron Therapeutics, Inc., which is expected to be immediately accretive. CorMedix also provided an update on its REZZAYO sNDA for an expanded indication and secured a $150 million term loan facility. Full-year 2026 guidance was maintained for revenue and narrowed for Adjusted EBITDA.
Key Highlights
- CorMedix Inc. to acquire substantially all assets of Heron Therapeutics for undisclosed terms, expected to be accretive.
- Q3 2026 consolidated revenue of $54.5 million, exceeding consensus of $51.2 million.
- Q3 2026 net loss of $14.7 million; Adjusted EBITDA of $3.1 million.
- DefenCath® sales were $17.2 million in Q3 2026.
- FDA accepted sNDA for REZZAYO expanded indication for prophylaxis of invasive fungal disease.
- CorMedix secured a $150 million term loan facility to support the Heron acquisition and operations.
- Full-year 2026 revenue guidance maintained at $325-$345 million; Adjusted EBITDA guidance narrowed to $130-$140 million.
- Cash and short-term investments totaled $355.2 million as of September 30, 2026.
Price Impact
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