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CorMedix (CRMD) investor relations material
CorMedix Morgan Stanley 23rd Annual Global Healthcare Conference summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Business transformation and strategic acquisitions
Recent acquisition of Millenta transformed the company from a single-product to a multi-product business, adding a stable base of approved anti-infective drugs and significant growth potential, especially with Roseo.
Millenta acquisition expected to deliver $35–$45 million in annual synergies within 12 months, with a focus on operational and non-personnel cost savings.
Integration efforts are underway to unify commercial teams and optimize product promotion in hospital and acute care settings.
Recent investment in Telferra provides a right of first negotiation for a promising ICU anticoagulant, with phase 3 data expected in early 2026.
Capital allocation will prioritize opportunities with near-term accretion, commercial synergy, and growth, mirroring Millenta’s criteria.
Product updates and market adoption
DefenCath, the lead product, launched commercially in July 2024, targeting hemodialysis patients to prevent bloodstream infections; adoption has been strong among major dialysis providers.
Guidance for 2025 DefenCath revenue was raised to $200–$250 million, driven by robust uptake among non-LDO customers and growing LDO adoption.
DefenCath is the only FDA-approved antimicrobial catheter lock solution, offering a unique combination of heparin and taurolidine with broad-spectrum activity and a strong safety profile.
Real-world evidence studies are underway to support broader reimbursement, especially with Medicare Advantage payers.
Expansion into additional indications, such as TPN and oncology, is in progress, with TPN phase 3 study on track for completion by end of 2026 and potential label by end of 2027.
Pipeline and growth opportunities
Roseo, acquired via Millenta, is in phase 3 for prophylaxis in immunocompromised patients, with commercialization targeted for early 2027 if successful.
Roseo offers potential advantages over current standards of care, including fewer drug interactions and lower toxicity.
Other Millenta products, such as Minocin and VaporMir, show stable or modest growth, while Commerza is being considered for a relaunch.
DefenCath’s label expansion into TPN and oncology could unlock significant new markets, with TPN representing a $500–$750 million opportunity.
Additional pipeline opportunities are being explored, with a focus on synergistic hospital-based products.
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