CRMD - CorMedix stock soars 13% following Q4 results

CorMedix (CRMD +12.8%) stock rose following its Q4 results, which beat analysts' estimates. Q4 net revenue remained largely flat at $56.4K, compared to $55.7K in Q4 2020. Net loss widened to -$7.8M, compared to a net loss of -$6.1M in Q4 2020. The company said the increase in net loss was mainly due to increases in costs related to the manufacturing of DefenCath prior to its potential marketing approval and non-cash charges for stock-based compensation. Operating expenses rose to ~$7.8M, compared to $6.1M in Q4 2020. As of Dec. 31, 2021 cash and short-term investments were $65.5M, excluding restricted cash of $0.2M. The company believes it has sufficient resources to fund operations through H1 2023.

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CorMedix stock soars 13% following Q4 results