By Katherine Hamilton
CorMedix shares rose after the company's preliminary first-quarter revenue figure came in above expectations.
Shares climbed 16.5% to $7.07 Tuesday. The stock is down 14.1% so far this year.
The Berkeley Heights, N.J., biopharmaceutical company recorded preliminary first-quarter revenue of $39 million, it said Tuesday. Analysts polled by FactSet were forecasting $32.3 million.
CorMedix also increased first-half guidance for sales to existing purchasing customers to between $62 million and $70 million.
The company said it received larger-than-expected orders during the final week of March. It also has more visibility into inventory levels on hand at some current purchasing customers, it said.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
April 08, 2025 10:14 ET (14:14 GMT)
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