CorMedix (CRMD) investor relations material

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.