Cormedix Inc Down 4.83% To $3.35 After Earnings Miss

Cormedix Inc (CRMD) said before open Tuesday that it lost $0.26 per share in quarter four 2023.

On the revenue line, the company reported $0.00, beating estimates by $250 thousand.

In the same quarter a year ago, the company lost $0.2 per share on revenue of $29.7 thousand.

The stock is down 4.83% to $3.35 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Cormedix Inc a Bearish Sentiment Rank from InvestorsObserver.

Cormedix Inc has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 21, putting Cormedix Inc in the bottom 25% of stocks. The firm set a 52-week low on November 15, 2023 at $2.57 and set a 52-week high on June 22, 2023 at $6.09.

Cormedix Inc is a biopharmaceutical company that focuses on developing and commercializing therapeutic products for the prevention and treatment of infectious and inflammatory diseases. It has been in-licensed to develop and commercialize Neutrolin, which is a novel anti-infective solution for the reduction and prevention of catheter-related infections and thrombosis in patients requiring central venous catheters in clinical settings such as hemodialysis, total parenteral nutrition, and oncology. The Neutrolin product is designed to target unmet medical needs.