By Sabela Ojea
Shares of CorMedix Tuesday dropped after the company's outlook for the first half of 2025 disappointed investors despite beating expectations in the fourth quarter.
The stock was down 31% at $7.39 in morning trading, on pace for the largest percent decrease since Aug. 22, when it fell 57%. Shares have dropped 80% over the past 12 months.
The biopharmaceutical company said it expects revenue between $50 million to $60 million for the first half. Analysts polled by FactSet are forecasting revenue of $31 million for the first quarter and $32.6 million for the second quarter, equal to $63.6 million in combined revenue.
The company's outlook implies a deceleration in revenue for the second quarter after it guided for a first-quarter topline performance of more than $33 million.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
March 25, 2025 11:31 ET (15:31 GMT)
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