Overview
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- TickerCRMD on Nasdaq2
- IndustryPharmaceutical Preparations2
- HeadquartersBerkeley Heights, United States2
- Incorporated inDE3
- Business address389 Interpace Pkwy, Suite 450, Parsippany, Nj 070543
- Filer categoryNon-accelerated filer3
- Legal formCorporation2
- LEI5299006YIA3L0MBW83582
- StatusActive2
- LEI statusLapsed (not renewed)2
- Registered addressc/o CORPORATION SERVICE COMPANY, 251 LITTLE FALLS DRIVE, 19808 Wilmington, United States2
- Registered withDivision of Corporations, Department of State, 41973952
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Analysis included within this Annual Report, for additional details on the arrangement with Mundipharma.5 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
88.5%Gross margin6
48.2%Operating margin6
52.3%Net margin6
617.0%Revenue growth, 20256
40.2%Return on equity6
$172.8MFree cash flow6
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Defen Cath brought in 83% of the revenue CorMedix Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2024 | 2025 |
|---|---|---|
| Defen Cath | $43.5M | $258.8M |
| Melinta Portfolio | $45.5M | |
| Contract Revenue | $7.4M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue7¢$22.1M
- Research and development6¢$19.3M
- Other costs30¢$94.2M
- Income tax4¢$13.0M
- Profit52¢$163.1M
Out of $311.7M in revenue.6
Where each dollar of operating cash went, fiscal 2025
- Capital spending1¢$2.3M
- Kept or used elsewhere99¢$172.8M
Out of $175.0M of cash from operations.6
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.6
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Total Revenues | $311.7M | $43.5M |
| Cost of sales (exclusive of amortization of intangibles) | $22.1M | $3.0M |
| Amortization of intangibles | $13.9M | $156.0K |
| Gross profit | $275.7M | $40.3M |
| Research and development | $19.3M | $3.9M |
| Selling and marketing | $38.1M | $28.7M |
| General and administrative | $68.2M | $30.0M |
| Total operating expenses | $125.6M | $62.6M |
| Income (Loss) From Operations | $150.1M | -$22.4M |
| Interest income | $3.8M | $2.6M |
| Foreign exchange transaction loss | -$52.0K | -$31.0K |
| Unrealized gain on marketable security | $5.4M | |
| Other income | $519.0K | |
| Change in contingent consideration | -$6.5M | |
| Interest expense | -$2.8M | -$36.0K |
| Total other income (expense) | -$125.0K | $3.0M |
| Net Income (Loss) Before Income Taxes | $150.0M | -$19.3M |
| Income Tax (benefit) | -$13.0M | -$1.4M |
| Net Income (Loss) | $163.1M | -$17.9M |
| Unrealized (loss) from investments | -$2.0K | -$5.0K |
| Foreign currency translation gain (loss) | -$86.0K | $2.0K |
| Total other comprehensive (loss) | -$88.0K | -$3.0K |
| Comprehensive Income (Loss) | $163.0M | -$17.9M |
| Net Income (Loss) Per Common Share Basic (in Dollars per share) | $2.25 | -$0.30 |
| Net Income (Loss) Per Common Share Diluted (in Dollars per share) | $2.04 | -$0.30 |
| Weighted Average Common Shares Outstanding Basic (in Shares) | 72.0K shares | 58.9K shares |
| Weighted Average Common Shares Outstanding Diluted (in Shares) | 80.3K shares | 58.9K shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $144.8M | $40.7M | |
| Short-term investments | $3.7M | $11.0M | |
| Account receivables, net | $171.2M | $51.7M | |
| Inventories | $29.7M | $7.6M | |
| Prepaid expenses and other current assets (including restricted cash of $656 and $0 at December 31, 2025, and December 31, 2024) | $17.6M | $3.6M | |
| Total current assets | $367.1M | $114.6M | |
| Property and equipment, net | $6.0M | $1.8M | |
| Other long-term assets (including restricted cash of $332 and $105 at December 31, 2025, and December 31, 2024, net of current) | $23.8M | $105.0K | |
| Goodwill | $30.0M | ||
| Intangible asset, net | $379.1M | $1.8M | |
| Deferred tax assets | $16.3M | ||
| Operating lease right-of-use assets, net | $3.0M | $493.0K | |
| Finance lease- right-of-use assets, net | $946.0K | ||
| TOTAL ASSETS | $826.1M | $118.8M | |
| Accounts payable | $7.9M | $1.7M | |
| Accrued expenses | $161.9M | $32.0M | |
| Contingent Consideration, short-term | $3.0M | ||
| Operating lease liabilities, short-term | $853.0K | $168.0K | |
| Financing lease liability, short-term | $596.0K | ||
| Total current liabilities | $174.3M | $33.8M | |
| Convertible senior notes, net of deferred financing costs | $144.6M | ||
| Contingent Consideration, net of current portion | $99.1M | ||
| Operating lease liabilities, net of current | $2.3M | $349.0K | |
| Finance lease liabilities, net of current | $586.0K | ||
| TOTAL LIABILITIES | $420.8M | $34.2M | |
| Common stock - $0.001 par value: 160,000,000 shares authorized at December 31, 2025 and 2024; 79,260,667 and 64,411,295 shares issued and outstanding at December 31, 2025 and 2024, respectively | $79.0K | $64.0K | |
| Accumulated other comprehensive gain | $3.0K | $91.0K | |
| Additional paid-in capital | $581.8M | $424.1M | |
| Accumulated deficit | -$176.6M | -$339.6M | |
| TOTAL STOCKHOLDERS EQUITY | $405.3M | $84.7M | $70.1M |
| TOTAL LIABILITIES AND STOCKHOLDERS EQUITY | $826.1M | $118.8M | |
| Restricted cash | $656.0K | $0 | |
| Restricted cash | $332.0K | $105.0K | |
| Preferred stock, par value (in Dollars per share) | $0.00 | $0.00 | |
| Preferred stock, shares authorized (in Shares) | 2.0M shares | 2.0M shares | |
| Preferred stock, shares issued (in Shares) | 91.6K shares | 136.6K shares | |
| Preferred stock, shares outstanding (in Shares) | 91.6K shares | 136.6K shares | |
| Common stock, par value (in Dollars per share) | $0.00 | $0.00 | |
| Common stock, shares authorized (in Shares) | 160.0M shares | 160.0M shares | |
| Common stock, shares issued (in Shares) | 79.3M shares | 64.4M shares | |
| Common stock, shares outstanding (in Shares) | 79.3M shares | 64.4M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $144.8M | $40.7M | |
| Short-term investments | $3.7M | $11.0M | |
| Account receivables, net | $171.2M | $51.7M | |
| Inventories | $29.7M | $7.6M | |
| Prepaid expenses and other current assets (including restricted cash of $656 and $0 at December 31, 2025, and December 31, 2024) | $17.6M | $3.6M | |
| Total current assets | $367.1M | $114.6M | |
| Property and equipment, net | $6.0M | $1.8M | |
| Other long-term assets (including restricted cash of $332 and $105 at December 31, 2025, and December 31, 2024, net of current) | $23.8M | $105.0K | |
| Goodwill | $30.0M | ||
| Intangible asset, net | $379.1M | $1.8M | |
| Deferred tax assets | $16.3M | ||
| Operating lease right-of-use assets, net | $3.0M | $493.0K | |
| Finance lease- right-of-use assets, net | $946.0K | ||
| TOTAL ASSETS | $826.1M | $118.8M | |
| Accounts payable | $7.9M | $1.7M | |
| Accrued expenses | $161.9M | $32.0M | |
| Contingent Consideration, short-term | $3.0M | ||
| Operating lease liabilities, short-term | $853.0K | $168.0K | |
| Financing lease liability, short-term | $596.0K | ||
| Total current liabilities | $174.3M | $33.8M | |
| Convertible senior notes, net of deferred financing costs | $144.6M | ||
| Contingent Consideration, net of current portion | $99.1M | ||
| Operating lease liabilities, net of current | $2.3M | $349.0K | |
| Finance lease liabilities, net of current | $586.0K | ||
| TOTAL LIABILITIES | $420.8M | $34.2M | |
| Common stock - $0.001 par value: 160,000,000 shares authorized at December 31, 2025 and 2024; 79,260,667 and 64,411,295 shares issued and outstanding at December 31, 2025 and 2024, respectively | $79.0K | $64.0K | |
| Accumulated other comprehensive gain | $3.0K | $91.0K | |
| Additional paid-in capital | $581.8M | $424.1M | |
| Accumulated deficit | -$176.6M | -$339.6M | |
| TOTAL STOCKHOLDERS EQUITY | $405.3M | $84.7M | $70.1M |
| TOTAL LIABILITIES AND STOCKHOLDERS EQUITY | $826.1M | $118.8M | |
| Restricted cash | $656.0K | $0 | |
| Restricted cash | $332.0K | $105.0K | |
| Preferred stock, par value (in Dollars per share) | $0.00 | $0.00 | |
| Preferred stock, shares authorized (in Shares) | 2.0M shares | 2.0M shares | |
| Preferred stock, shares issued (in Shares) | 91.6K shares | 136.6K shares | |
| Preferred stock, shares outstanding (in Shares) | 91.6K shares | 136.6K shares | |
| Common stock, par value (in Dollars per share) | $0.00 | $0.00 | |
| Common stock, shares authorized (in Shares) | 160.0M shares | 160.0M shares | |
| Common stock, shares issued (in Shares) | 79.3M shares | 64.4M shares | |
| Common stock, shares outstanding (in Shares) | 79.3M shares | 64.4M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.6
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net Income (loss) | $163.1M | -$17.9M |
| Stock-based compensation | $13.8M | $6.1M |
| Change in right-of-use assets | $438.0K | $148.0K |
| Depreciation | $677.0K | $154.0K |
| Amortization of intangible | $13.9M | $156.0K |
| Change in contingent consideration | $6.5M | |
| Change in fair value of equity securities | -$5.4M | |
| Deferred income taxes | -$25.8M | |
| Amortization of debt finance costs | $398.0K | |
| Provision for current expected credit losses | $252.0K | $137.0K |
| Gain on liquidation of foreign entity | -$86.0K | |
| Increase in account receivables | -$90.9M | -$51.8M |
| Increase in inventory | -$3.5M | -$5.5M |
| Increase in prepaid expenses and other current assets | -$2.1M | -$2.4M |
| (Decrease) Increase in accounts payable | $3.3M | -$2.6M |
| Increase in accrued expenses | $100.8M | $23.0M |
| Decrease in operating lease liabilities | -$308.0K | -$151.0K |
| Payment of contingent liability | -$61.0K | |
| Net cash provided by (used in) operating activities | $175.0M | -$50.6M |
| Acquisitions of businesses, net of cash acquired | -$308.5M | |
| Investment in equity securities | -$5.0M | |
| Purchase of short-term investments | -$48.0M | -$26.8M |
| Maturity of short-term investments | $55.3M | $48.1M |
| Purchase of equipment | -$2.3M | -$116.0K |
| Net cash provided by (used in) investing activities | -$308.4M | $21.2M |
| Proceeds from sale of common stock from public offering, net | $82.4M | |
| Proceeds from senior convertible notes | $150.0M | |
| Proceeds from sale of common stock from at-the-market program, net | $7.8M | $18.9M |
| Payment of employee withholding taxes on vested restricted stock units | -$2.0M | -$290.0K |
| Proceeds from exercise of pre-funded warrants | $3.0K | |
| Proceeds from exercise of stock options | $6.4M | $7.7M |
| Payment of debt issuance costs associated with the convertible notes | -$5.7M | |
| Payment of contingent consideration liabilities | -$189.0K | |
| ROU financing lease fees | -$188.0K | |
| Net cash provided by financing activities | $238.5M | $26.3M |
| Foreign exchange effects on cash | -$2.0K | |
| NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | $105.1M | -$3.1M |
| Cash paid for interest | $17.0K | $36.0K |
| Liability related to license agreement | $2.0M | |
| Unpaid debt issuance costs associated with the convertible notes | $43.0K | |
| Issuance of common stock for Melinta acquisition | $49.3M | |
| Fair value of contingent payments | $95.9M | |
| ROU assets and liabilities for finance lease | $203.0K | |
| Fair value of assets acquired from Melinta | $514.0M | |
| Liabilities assumed from Melinta | $45.4M | |
| Goodwill recognized on Melinta | $30.0M |
No quarter-by-quarter statement was filed.
Corporate structure
CorMedix Inc. sits at the top of its group. 8 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of CorMedix Inc.
- Aymen Abdalkader Shaibatalhamd Filed SCHEDULE 13G/A on CorMedix Inc., latest Jun 12, 2026 (6 filings since Apr 4, 2025)
- Deep Track Capital, LP Filed SCHEDULE 13G/A on CorMedix Inc., latest May 15, 2026 (2 filings since Dec 1, 2025)
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on CorMedix Inc., latest Mar 26, 2026 (2 filings since Feb 13, 2024)
- BlackRock Filed SCHEDULE 13G/A on CorMedix Inc., latest Feb 5, 2025 (4 filings since Feb 3, 2022)
- Nomura Holdings Filed SC 13G/A on CorMedix Inc., latest Nov 14, 2024 (4 filings since Feb 14, 2022)
- CorMedix Inc. Berkeley Heights, New Jersey, United States
- AcelRx Pharmaceuticals (United States) Stake · Redwood City
- CEM-102 Pharmaceuticals, Inc. Subsidiary · Delaware, United States
- Cempra Pharmaceuticals, Inc. Subsidiary · Delaware, United States
- Melinta Subsidiary Corp. Subsidiary · Delaware, United States
- Melinta Therapeutics, LLC Subsidiary · Delaware, United States
- Rempex Pharmaceuticals, Inc. Subsidiary · Delaware, United States
- Targanta Therapeutics Corporation Subsidiary · Delaware, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G; stakes of 5% or more it reported on Schedules 13D and 13G (1 companies). Each entity in the chart links to its source.
What it owns
What CorMedix Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Accumulated depreciation | $674.0K11 Dec 31, 2024 | $521.0K11 Dec 31, 2023 | +29.4% |
| Property and equipment, net | $6.0M6 Dec 31, 2025 | $1.8M6 Dec 31, 2024 | +225.8% |
| Finance-lease assets | $946.0K6 Dec 31, 2025 | ||
| Operating-lease assets (leased space) | $3.0M6 Dec 31, 2025 | $493.0K6 Dec 31, 2024 | +512.6% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $144.8M6 Dec 31, 2025 | $40.7M6 Dec 31, 2024 | +256.3% |
| Marketable securities, current | $10.4M6 Dec 31, 2025 | ||
| Debt securities available for sale | $8.5M6 Dec 31, 2025 | $34.2M6 Dec 31, 2024 | −75.1% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $30.0M6 Dec 31, 2025 | ||
| Intangible assets, net (excluding goodwill) | $379.1M6 Dec 31, 2025 | $1.8M6 Dec 31, 2024 | +20457.0% |
| Finite-lived intangibles, gross | $393.1M6 Dec 31, 2025 | $2.0M6 Dec 31, 2024 | +19555.0% |
| Accumulated amortization | -$14.0M6 Dec 31, 2025 | -$156.0K6 Dec 31, 2024 | −8892.3% |
| Finite-lived intangibles, net | $236.1K6 Dec 31, 2025 |
Inventory
| Item | Latest | A year before | Change |
|---|---|---|---|
| Inventory, total | $29.7M6 Dec 31, 2025 | $7.6M6 Dec 31, 2024 | +291.0% |
| Raw materials | $3.6M6 Dec 31, 2025 | $1.1M6 Dec 31, 2024 | +227.2% |
| Work in process | $11.7M6 Dec 31, 2025 | $3.5M6 Dec 31, 2024 | +231.4% |
| Finished goods | $14.4M6 Dec 31, 2025 | $3.0M6 Dec 31, 2024 | +386.0% |
Properties, in its own words
Our corporate headquarters is located in Parsippany, New Jersey, representing a leased facility which expires in March, 2030. We have additional leased office facilities in Lake Forest, Illinois, expiring in September 2031 and an office located in Berkeley Heights, NJ which we are actively marketing for sub-lease, expiring in October 2027.
We believe that our existing facilities are adequate to meet our current needs.
Item 2 of the 10-K filed Mar 5, 2026.5
Leadership
Who has led CorMedix Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
Chief operating officer
201520202025
- Chief executive officerJoseph Todisco May 12, 2022 to now14
- Chief executive officerMatthew T. David Nov 10, 2021 to Feb 23, 202215
- Chief executive officerKhoso Baluch Oct 5, 2016 to Jan 13, 202116
- Chief executive officerRandy Milby Mar 22, 2013 to Aug 10, 201617
- Chief executive officerJohn C. Houghton Mar 26, 2010 to Aug 18, 201018
- PresidentJohn C. Houghton Mar 26, 2010 to Aug 18, 201018
- Chief financial officerSusan Blum Sep 3, 2025 to now19
- Chief financial officerMatthew T. David May 13, 2020 to Jan 14, 202520
- Chief financial officerRobert W. Cook Feb 9, 2017 to Oct 1, 201921
- Chief financial officerHarry O'Grady Jul 23, 2014 to Jul 23, 201422
- Chief financial officerRichard Cohen Mar 22, 2013 to Mar 22, 201323
- Chief financial officerSteven W. Lefkowitz Aug 22, 2013 to Jan 22, 201424
- Chief financial officerBrian Lenz Mar 24, 2010 to Dec 14, 201125
- Chief operating officerElizabeth Masson Sep 3, 2025 to now26
- Chief operating officerRandy Milby Sep 24, 2012 to Dec 7, 201227
Board members and other officers (35)
- Chief Commercial OfficerMichael David Seckler Jan 15, 2026 to now28
- Chief Commercial OfficerErin Mistry Jan 20, 2023 to Jan 14, 202529
- EVP, Chief Commercial OfficerThomas Nusbickel May 20, 2021 to Feb 23, 202230
- EVP, Head of Clinical Ops.Elizabeth Masson Apr 9, 2018 to Jan 14, 202531
- Chief Medical OfficerJudith R. Abrams Feb 9, 2017 to Feb 9, 201732
- Exec VP of Tech OperationsJohn L. Armstrong Jr. Mar 2, 2017 to Jan 13, 202133
- Interim Chief Medical OfficerAntony Pfaffle Sep 30, 2013 to Feb 8, 201734
- OfficerBrian Lenz Mar 22, 2012 to Mar 22, 201235
- OfficerRichard Cohen Dec 7, 2012 to Dec 7, 201236
- Chief Medical OfficerMark A. Klausner Mar 3, 2011 to Mar 3, 201137
- SecretaryTimothy M. Hofer Mar 24, 2010 to Apr 1, 201038
- Chief Medical OfficerMark T. Houser Mar 29, 2010 to Nov 30, 201039
- Board memberJoseph Todisco Mar 22, 2022 to now40
- Board memberPaulo F. Costa Sep 17, 2020 to May 18, 202341
- Board memberGregory Scott Duncan Nov 4, 2020 to now42
- Board memberAlan W. Dunton Mar 4, 2019 to now43
- Board memberMehmood Khan Jun 27, 2017 to Aug 20, 202044
- Board memberKhoso Baluch Oct 5, 2016 to Jan 13, 202116
- Board memberJanet Dillione Aug 14, 2015 to now45
- Board memberMichael W. George Feb 27, 2014 to May 17, 201746
- Board memberCora M. Tellez Apr 7, 2014 to Jun 1, 201747
- Board memberTaunia Markvicka Apr 8, 2014 to May 17, 201748
- Board memberRandy Milby Mar 22, 2013 to Aug 10, 201617
- Board memberSteven W. Lefkowitz Aug 15, 2011 to now49
- Board memberMatthew Duffy Nov 23, 2011 to Jun 6, 201650
- Board memberJames Lefkowitz Dec 16, 2011 to Dec 16, 201151
- Board memberAntony Pfaffle Mar 24, 2010 to Oct 25, 201652
- Board memberRichard Cohen Mar 24, 2010 to Mar 22, 201353
- Board memberTimothy M. Hofer Mar 24, 2010 to Jan 10, 201238
- Board memberBami Bastani Mar 25, 2010 to Jan 19, 201154
- Board memberJohn C. Houghton Mar 26, 2010 to Aug 18, 201018
- Board memberGary A. Gelbfish Mar 29, 2010 to Jan 11, 201955
- Board memberRussell H. Ellison Mar 29, 2010 to Apr 1, 201056
- General counselKaufman Beth Zelnick Dec 14, 2023 to now57
- General counselPhoebe Mounts May 24, 2019 to Jan 18, 202358
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- CEM-102 Pharmaceuticals, Inc. Delaware4
- Cempra Pharmaceuticals, Inc. Delaware4
- Melinta Subsidiary Corp. Delaware4
- Melinta Therapeutics, LLC Delaware4
- Rempex Pharmaceuticals, Inc. Delaware4
- Targanta Therapeutics Corporation Delaware4
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Timeline
- Aug 13, 20268-K Results of operations59
- Aug 7, 20268-K Other events60
- Jul 2, 20268-K Other events61
- Jul 1, 20268-K Change of auditor62
- Jun 24, 20268-K Shareholder vote63
- Jun 8, 20268-K Regulation FD disclosure64
- May 14, 20268-K Results of operations65
- Apr 27, 20268-K Regulation FD disclosure66
- Mar 6, 20268-K Regulation FD disclosure67
- Mar 5, 20268-K Results of operations68
- Jan 8, 20268-K Results of operations; Executive or director change; Other events69
- Nov 12, 20258-K Results of operations70
- May 12, 2022New chief executive Joseph Todisco becomes CEO14
- Nov 10, 2021New chief executive Matthew T. David becomes CEO15
- Oct 5, 2016New chief executive Khoso Baluch becomes CEO16
- Mar 22, 2013New chief executive Randy Milby becomes CEO17
- Mar 26, 2010New chief executive John C. Houghton becomes CEO18
Calendar
Coming up
- Nov 11, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $0.57 a share, on Nov 12, 2025.71
When it reported results
- Aug 13, 2026Reported quarterly or annual results59
- May 14, 2026Reported quarterly or annual results65
- Mar 5, 2026Reported quarterly or annual results68
- Jan 8, 2026Reported quarterly or annual results69
- Nov 12, 2025Reported quarterly or annual results70
- Oct 20, 2025Reported quarterly or annual results72
- Aug 7, 2025Reported quarterly or annual results73
- May 6, 2025Reported quarterly or annual results74
Drug trials and FDA: recently
- Nov 15, 2023FDA approval FDA approved Defencath (heparin sodium), a new molecular entity, priority review (NDA 214520).75
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). Trials from ClinicalTrials.gov, as the sponsor registered them (expected dates are the sponsor's own and often move); approvals and advisory committee meetings from the FDA. The FDA does not publish its decision (PDUFA) dates. The full markets calendar
Filings
279 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 60 major events, 132 insider forms, 18 large holders, 49 other. The latest 20:
- Sep 18, 20264 EDGAR
- Sep 1, 20264 EDGAR
- Sep 1, 20264 EDGAR
- Sep 1, 20264 EDGAR
- Aug 13, 202610-Q EDGAR
- Aug 13, 20268-K EDGAR
- Aug 7, 20268-K EDGAR
- Jul 2, 20268-K EDGAR
- Jul 1, 20268-K EDGAR
- Jun 25, 2026S-8 POS EDGAR
- Jun 24, 20268-K EDGAR
- Jun 12, 2026SCHEDULE 13G/A EDGAR
- Jun 12, 2026SCHEDULE 13G/A EDGAR
- Jun 8, 20268-K CURRENT REPORT EDGAR
- May 15, 2026SCHEDULE 13G/A EDGAR
- May 14, 202610-Q EDGAR
- May 14, 20268-K EDGAR
- Apr 29, 2026ARS EDGAR
- Apr 29, 2026DEFA14A DEFINITIVE ADDITIONAL MATERIALS EDGAR
- Apr 29, 2026DEF 14A PROXY STATEMENT EDGAR
The 279 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
34 open-market trades by officers, directors and large owners since October 2021: 20 buys and 14 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jan 21, 2026 | Dillione JanetDirector | Sale | 10,000 | $6.88 | $68.8K | Form 4 |
| Dec 30, 2025 | DUNTON ALAN WDirector | Sale | 20,000 | $13.00 | $260.0K | Form 4 |
| Dec 18, 2025 | Todisco JosephChief Executive Officer | Sale | 30,000 | $12.00 | $360.0K | Form 4 |
| Dec 9, 2025 | Dillione JanetDirector | Sale | 34,000 | $12.00 | $408.0K | Form 4 |
| Dec 9, 2025 | Lefkowitz Steven WDirector | Sale | 40,000 | $11.88 | $475.2K | Form 4 |
| Dec 2, 2025 | Dillione JanetDirector | Sale | 46,657 | $10.00 | $466.6K | Form 4 |
| Nov 24, 2025 | Dillione JanetDirector | Sale | 26,343 | $9.93 | $261.6K | Form 4 |
| Nov 14, 2025 | Dillione JanetDirector | Sale | 30,000 | $11.42 | $342.6K | Form 4 |
| Oct 23, 2025 | Kaplan MyronDirector | Buy | 25,000 | $11.02 | $275.5K | Form 4 |
| Sep 12, 2025 | DUNTON ALAN WDirector | Sale | 10,000 | $13.13 | $131.3K | Form 4 |
| Sep 12, 2025 | Todisco JosephChief Executive Officer | Sale | 50,000 | $13.00 | $650.0K | Form 4 |
| Sep 11, 2025 | Hurlburt ElizabethChief Operating Officer | Sale | 41,121 | $13.08 | $537.9K | Form 4 |
| Sep 9, 2025 | Zelnick Kaufman BethChief Legal Officer | Sale | 50,000 | $13.41 | $670.3K | Form 4 |
| Sep 9, 2025 | Hurlburt ElizabethChief Operating Officer | Sale | 12,876 | $13.51 | $174.0K | Form 4 |
| Nov 14, 2024 | Hurlburt ElizabethChief Operating Officer | Sale | 140,027 | $11.18 | $1.6M | Form 4 |
| Oct 31, 2024 | Mistry ErinEVP, Chief Commercial Officer | Buy | 1,500 | $9.99 | $15.0K | Form 4 |
| Mar 13, 2024 | Todisco JosephChief Executive Officer | Buy | 13,561 | $3.74 | $50.7K | Form 4 |
| Dec 15, 2023 | DUNTON ALAN WDirector | Buy | 3,000 | $3.30 | $9.9K | Form 4 |
| Dec 14, 2023 | DUNTON ALAN WDirector | Buy | 3,000 | $3.45 | $10.3K | Form 4 |
| Nov 17, 2023 | Mistry ErinEVP, Chief Commercial Officer | Buy | 1,000 | $4.00 | $4.0K | Form 4 |
All 34 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Aymen Abdalkader ShaibatalhamdSCHEDULE 13G/A, 6 filings Apr 4, 2025 to Jun 12, 202676
- Deep Track Capital, LPSCHEDULE 13G/A, 2 filings Dec 1, 2025 to May 15, 202677
- VANGUARD GROUP INCSCHEDULE 13G/A, 2 filings Feb 13, 2024 to Mar 26, 202678
- BlackRockSCHEDULE 13G/A, 4 filings Feb 3, 2022 to Feb 5, 202579
- Nomura HoldingsSC 13G/A, 4 filings Feb 14, 2022 to Nov 14, 202480
Stakes it holds
CorMedix Inc. has told the SEC it owns more than 5% of 1 company, latest first (Schedules 13D and 13G).
- AcelRx Pharmaceuticals (United States)SCHEDULE 13D Sep 12, 202581
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Joseph Todisco | 50 | $684.4K | $6.1M82 |
| 2025 | Beth Zelnick Kaufman | 66 | $497.6K | $3.8M82 |
| 2025 | Elizabeth Hurlburt | 47 | $479.6K | $3.7M82 |
| 2024 | Chief Executive Officer | $639.2K | $2.4M82 | |
| 2024 | Executive Vice PresidentChief Operating Officer | $405.9K | $1.1M82 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 6,324,111 | $49.6M | 0.0% | +356,536 |
| Deep Track Capital, LP | 6,274,076 | $49.3M | 0.7% | No change |
| Vanguard Capital Management LLC | 3,135,075 | $24.6M | 0.0% | +5,419 |
| State Street Corp | 2,316,845 | $18.2M | 0.0% | +125,002 |
| Royce & Associates LP | 2,176,362 | $17.1M | 0.1% | +288,830 |
| Geode Capital Management, LLC | 1,947,014 | $15.3M | 0.0% | +130,107 |
| UBS Group AG | 1,877,940 | $14.7M | 0.0% | +339,695 |
| Oberweis Asset Management Inc/ | 1,323,915 | $10.4M | 0.2% | +112,800 |
| Alyeska Investment Group, L.P. | 850,000 | $6.7M | 0.0% | No change |
| Marshall Wace, Llp | 779,535 | $6.1M | 0.0% | +276,570 |
| Northern Trust Corp | 756,430 | $5.9M | 0.0% | +118,747 |
| Vanguard Portfolio Management LLC | 708,604 | $5.6M | 0.0% | −33,967 |
| Trexquant Investment LP | 623,797 | $4.9M | 0.0% | +63,160 |
| Charles Schwab Investment Management Inc | 618,172 | $4.9M | 0.0% | +15,206 |
| Armistice Capital, LLC | 500,000 | $3.9M | 0.1% | New |
| Vanguard Fiduciary Trust Co | 484,322 | $3.8M | 0.0% | −21,357 |
| Goldman Sachs Group Inc | 466,393 | $3.7M | 0.0% | −44,936 |
| Raymond James Financial Inc | 446,142 | $3.5M | 0.0% | +117,918 |
| Hennion & Walsh Asset Management, Inc. | 438,629 | $3.4M | 0.1% | +263,618 |
| Bridgeway Capital Management, LLC | 434,132 | $3.4M | 0.1% | New |
| Palisades Investment Partners, LLC | 426,543 | $3.3M | 1.0% | −183,605 |
| Morgan Stanley | 423,341 | $3.3M | 0.0% | −12,298 |
| Kennedy Capital Management LLC | 419,284 | $3.3M | 0.1% | −254,018 |
| Private Advisor Group, LLC | 415,406 | $3.3M | 0.0% | −89,262 |
| Bank of New York Mellon Corp | 395,907 | $3.1M | 0.0% | +29,394 |
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How CorMedix Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARCorMedix Inc.1
- CIK0001410098
- Employer ID (EIN)20-58948905
- Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company5
- Incorporated inDelaware5
- Fiscal year endsDecember 311
- Industry code (SIC)2834 Pharmaceutical Preparations1
- SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
- Business address389 Interpace Pkwy, Suite 450, Parsippany, NJ 070541
- Phone908-517-95001
- Shares outstanding77,944,324 as of Aug 10, 202613
- Public float$909.7M as of Jun 30, 20255
- AuditorCBIZ CPAs P.C, Morristown, New Jersey PCAOB ID 199; no auditor attestation of internal control over financial reporting5
- On EDGAR sinceAug 14, 20071
- Filings1,134 in all: 4 (439), 8-K (289), 10-Q (50), 3 (41), 4/A (28), 424B5 (21), DEF 14A (21), DEFA14A (18)1
All 50 form types
10-K (16), EFFECT (16), 144 (15), S-3 (13), SC 13G (13), CORRESP (12), SC 13G/A (12), UPLOAD (12), SC 13D/A (10), CT ORDER (9), PRE 14A (8), SCHEDULE 13G/A (8), 10-Q/A (7), 424B3 (7), 10-K/A (6), S-8 (6), POS AM (5), S-3/A (5), 8-K/A (4), RW (4), S-1/A (4), 3/A (3), ARS (3), 25-NSE (2), 424B1 (2), 424B4 (2), 8-A12B (2), D (2), FWP (2), REGDEX (2), S-3ASR (2), SC 13D (2), SCHEDULE 13G (2), 25 (1), CERT (1), CERTNYS (1), NT 10-Q (1), PRER14A (1), REGDEX/A (1), S-1 (1), S-8 POS (1), SCHEDULE 13D (1)
- Latest filingsAnnual report (10-K) Mar 5, 2026
Quarterly report (10-Q) Aug 13, 2026
Proxy statement (DEF 14A) Apr 29, 2026
Latest 8-K (8-K) Aug 13, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, $0.001 Par Value | CRMD | Nasdaq Global Market |
From the cover page of the 10-K filed Mar 5, 2026 (Section 12(b) of the Exchange Act).5
Risk factors and legal proceedings
The risks CorMedix Inc. names in Item 1A of its 10-K filed Mar 5, 2026: 31 risks under these headings, as written.5
- Risks Related to Our Financial Position
- Although we achieved profitability in 2025, we have a history of operating losses, may incur additional operating losses in the future, and may never achieve sustained profitability.
- Risks Related to the Development and Commercialization of DefenCath
- We are highly dependent on the continued successful commercialization of our lead product, DefenCath.
- The continued successful commercialization of DefenCath will depend on maintaining coverage and reimbursement for use of DefenCath from third-party payors.
- We have significant DefenCath customer concentration, with a limited number of customers accounting for a large portion of our revenues.
- Our revenue and profitability may be adversely affected by DefenCath’s transition from TDAPA to the post-TDAPA add-on adjustment and broader reimbursement dynamics that could have a material adverse impact on our results of operations and business.
- Risks Related to the Development and Commercialization of our other Products
- Successful development and commercialization of our Products and new product lines is uncertain.
- Infective pathogens might develop resistance to our Products or product candidates, which would decrease the efficacy and commercial viability of that product.
- Clinical trials and regulatory approval for our product lines are expensive, time-consuming, and uncertain, and failure or delay in obtaining approval could materially harm our business.
- Off-label marketing or use of our Products or future product candidates may expose us to significant fines, penalties, sanctions, or product liability claims, and our reputation could be harmed.
The other 22 risks
- Risks Related to Regulatory and Legal Compliance Matters
- Our approved Products are, and our pipeline product lines (if approved) will be, subject to extensive post-approval regulation.
- Healthcare policy changes, including reimbursement policies for drugs and medical devices, may have an adverse effect on our business, financial condition and results of operations.
- Changes in funding for the FDA and other government agencies or future government shutdowns or disruptions could cause delays in the submission and regulatory review of our product lines, which could negatively impact our business or prospects.
- Risks relating to cybersecurity and data privacy could create additional liabilities for us.
- Clinical trials required for our Products and any future product lines may be expensive, time consuming and their outcome is uncertain.
- Our BARDA development contract requires ongoing funding decisions by the U.S. Government. Any reduction or discontinuation of funding of this contract could cause our business, financial condition, operating results and cash flows to suffer materially.
- Risks Related to Our Business and Industry
- We may not successfully manage the growth of our Products.
- We have pursued and may continue to pursue acquisitions. Acquisitions could be difficult to integrate, divert the attention of key personnel, disrupt our business, dilute stockholder value and impair our financial results.
- Competition and technological change may make our Products, product lines or indications, less attractive or obsolete.
- If we lose key management, cannot recruit qualified employees, directors, officers, or other personnel or experience increases in compensation costs, our business may materially suffer.
- We face the risk of product liability claims and the amount of insurance coverage we hold now or in the future may not be adequate to cover all liabilities we might incur.
- Risks Related to Our Intellectual Property
- If we and our licensors do not obtain protection for and successfully defend our respective intellectual property rights, competitors may be able to take advantage of our research and development efforts to develop competing products.
- Intellectual property disputes require us to spend time and money to address such disputes could limit our intellectual property rights and if generic entrants of our Products are approved, it could have a material adverse impact on our results of operations and financial condition.
- Our business, financial condition, and results of operations could be materially and adversely affected by an adverse outcome in the ongoing litigation.
- Risks Related to Dependence on Third Parties
- Our ability to pursue the development and commercialization of certain of our Products depends upon the continuation of certain licenses and actions taken by our licensors.
- We depend on third-party suppliers and contract manufacturers for the supply and manufacture of our product lines, as well as our APIs, which subjects us to potential cost increases and manufacturing delays that are not within our control.
- We rely on third parties to conduct our clinical trials and pre-clinical studies. If those parties do not successfully carry out their contractual duties or meet expected deadlines, our product lines may not advance in a timely manner or at all.
- The timing of the milestone and royalty payments we are required to make to third parties is uncertain and could adversely affect our cash flows and results of operations.
- Risks Related to our Common Stock
- Our common stock price has fluctuated considerably and is likely to remain volatile, in part due to the limited market for our common stock and you could lose all or a part of your investment.
- General Risk Factors
- Our business may be adversely affected by tariffs, trade sanctions or similar government actions.
- We have identified a material weakness in our internal control over financial reporting, which could, if not effectively remediated, result in material misstatements in our financial statements, and a failure to meet our reporting and financial obligations.
- Our internal control over financial reporting and our disclosure controls and procedures may not prevent all possible errors that could occur.
Legal proceedings
From time to time, we may be involved in various claims and legal proceedings relating to claims arising out of our operations. We are not currently a party to any legal proceedings that, in the opinion of our management, are likely to have a material adverse effect on our business. Regardless of outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources and other factors. For information regarding our legal proceedings, see Note 9, Commitments and Contingencies, included in the Financial Statements in this Annual Report on Form 10-K, which is incorporated into this item by reference.
The opening of Item 3, Legal Proceedings.5
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARCorMedix Inc. filings on SEC EDGAR
- 2
- 3SEC EDGARCorMedix Inc. filings on SEC EDGAR
- 4
- 5
- 6SEC EDGARCorMedix Inc. 10-K for fiscal 2025
- 7SEC EDGARCorMedix Inc. 10-K for fiscal 2019
- 8SEC EDGARCorMedix Inc. 10-K for fiscal 2020
- 9SEC EDGARCorMedix Inc. 10-K for fiscal 2021
- 10SEC EDGARCorMedix Inc. 10-K for fiscal 2022
- 11SEC EDGARCorMedix Inc. 10-K for fiscal 2023
- 12SEC EDGARCorMedix Inc. 10-Q for fiscal 2026
- 13SEC EDGARCorMedix Inc. 10-Q for fiscal 2026
- 14
- 15
- 16
- 17SEC EDGARRandy Milby, Chief executive officer
- 18
- 19SEC EDGARSusan Blum, Chief financial officer
- 20
- 21
- 22
- 23
- 24
- 25SEC EDGARBrian Lenz, Chief financial officer
- 26
- 27SEC EDGARRandy Milby, Chief operating officer
- 28
- 29
- 30
- 31
- 32
- 33
- 34
- 35SEC EDGARBrian Lenz, Officer
- 36SEC EDGARRichard Cohen, Officer
- 37
- 38SEC EDGARTimothy M. Hofer, Secretary
- 39
- 40SEC EDGARJoseph Todisco, Board member
- 41SEC EDGARPaulo F. Costa, Board member
- 42SEC EDGARGregory Scott Duncan, Board member
- 43SEC EDGARAlan W. Dunton, Board member
- 44SEC EDGARMehmood Khan, Board member
- 45SEC EDGARJanet Dillione, Board member
- 46SEC EDGARMichael W. George, Board member
- 47SEC EDGARCora M. Tellez, Board member
- 48SEC EDGARTaunia Markvicka, Board member
- 49SEC EDGARSteven W. Lefkowitz, Board member
- 50SEC EDGARMatthew Duffy, Board member
- 51SEC EDGARJames Lefkowitz, Board member
- 52SEC EDGARAntony Pfaffle, Board member
- 53SEC EDGARRichard Cohen, Board member
- 54SEC EDGARBami Bastani, Board member
- 55SEC EDGARGary A. Gelbfish, Board member
- 56SEC EDGARRussell H. Ellison, Board member
- 57
- 58SEC EDGARPhoebe Mounts, General counsel
- 59SEC EDGARResults of operations
- 60SEC EDGAROther events
- 61SEC EDGAROther events
- 62SEC EDGARChange of auditor
- 63SEC EDGARShareholder vote
- 64SEC EDGARRegulation FD disclosure
- 65SEC EDGARResults of operations
- 66SEC EDGARRegulation FD disclosure
- 67SEC EDGARRegulation FD disclosure
- 68SEC EDGARResults of operations
- 69
- 70SEC EDGARResults of operations
- 71NasdaqNasdaq calendar
- 72
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