CorMedix reaffirms 2026 revenue guidance, details 2027 DefenCath payment outlook
CorMedix cited a new CMS final rule setting a $8.32 per-session Q1 2027 add-on for DefenCath, and said it expects the rate to dip in Q2 before rising later in the year.
CorMedix Therapeutics said on November 2, 2026 that CMS released the 2027 End-Stage Renal Disease Prospective Payment System final rule on October 28, 2026, setting a post-TDAPA add-on payment for DefenCath (taurolidine and heparin) of $8.32 per dialysis session for the first quarter of 2027, along with a new quarterly method for calculating future add-on adjustments.1 The company noted that this figure falls within the range it had previously guided, which was three to five times the current $2.37 rate in place for the third and fourth quarters of 2026.1
CorMedix addressed comments made by a large dialysis organization about the projected quarterly path of the add-on. The company said it is aware that a large dialysis organization discussed the quarterly trajectory of the 2027 add-on payments on an investor call, but that CorMedix has not shared any utilization or pricing data with that organization or any other party that would allow for such projections.1 It added that it views third-party projections on this topic as subject to significant uncertainty, and that investors should not treat such projections as guidance from or endorsed by CorMedix.1
Based on its own data, CorMedix said it expects the add-on rate to fall in the second quarter of 2027 relative to the first quarter, then rise again in the third and/or fourth quarters relative to the second, depending on how CMS applies certain utilization figures.1 The company also said it expects the add-on rate to stay above the current $2.37 level in every quarter of 2027, with the full-year average exceeding twice that rate.1
On guidance, CorMedix reaffirmed its August 2026 full-year revenue outlook of $325 million to $345 million.1 On cash, the company disclosed unaudited cash and cash equivalents of approximately $355 million as of September 30, 2026.1 A conference call to cover full third-quarter financial results and further business updates is set for November 12, 2026, with additional details to be released about a week before that date.1
Written by readthrough’s AI from the linked primary sources and fact-checked against them automatically before publishing. Not investment advice.