$CRMD
CorMedix Inc.

2024 Q3 Form 10-Q Financial Statement

#000121390024068600 Filed on August 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q4
Revenue $11.46M $806.1K $0.00
YoY Change -100.0%
Cost Of Revenue $686.6K $509.8K $0.00
YoY Change -100.0%
Gross Profit $10.77M $296.3K $0.00
YoY Change -100.0%
Gross Profit Margin 94.01% 36.75%
Selling, General & Admin $13.33M $14.95M $13.38M
YoY Change 70.82% 113.22% 139.98%
% of Gross Profit 123.77% 5044.59%
Research & Development $727.1K $651.0K $2.289M
YoY Change -72.71% -86.42% -19.5%
% of Gross Profit 6.75% 219.72%
Depreciation & Amortization $77.41K $76.87K $18.67K
YoY Change 287.05% 341.02% -17.1%
% of Gross Profit 0.72% 25.95%
Operating Expenses $14.06M $15.60M $15.67M
YoY Change 34.29% 32.13% 86.12%
Operating Profit -$3.287M -$15.30M -$15.67M
YoY Change -68.59% 29.62% 86.77%
Interest Expense $510.5K $6.556K $914.7K
YoY Change 3793.24% 12.05% 407.41%
% of Operating Profit
Other Income/Expense, Net $510.5K $1.149M
YoY Change -29.38% 116.46%
Pretax Income -$2.777M -$14.15M -$14.75M
YoY Change -71.49% 25.53% 79.73%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$2.777M -$14.15M -$14.75M
YoY Change -71.5% 25.53% 79.73%
Net Earnings / Revenue -24.24% -1755.51%
Basic Earnings Per Share -$0.05 -$0.25
Diluted Earnings Per Share -$0.05 -$0.25 -$0.26
COMMON SHARES
Basic Shares Outstanding 55.86M shares 57.62M shares 54.81M shares
Diluted Shares Outstanding 58.83M shares 57.62M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $46.03M $45.61M $76.03M
YoY Change -46.84% -12.96% 29.32%
Cash & Equivalents $35.29M $28.54M $43.64M
Short-Term Investments $10.74M $17.07M $32.39M
Other Short-Term Assets $3.088M $3.366M $1.313M
YoY Change 25.01% 51.36% 73.07%
Inventory $6.649M $4.012M $2.106M
Prepaid Expenses $170.7K $227.2K $353.6K
Receivables $17.39M $206.3K
Other Receivables $0.00 $0.00
Total Short-Term Assets $73.15M $53.19M $79.45M
YoY Change -17.86% -2.62% 33.42%
LONG-TERM ASSETS
Property, Plant & Equipment $1.900M $1.916M $1.866M
YoY Change 19.57% 19.98% 15.94%
Goodwill
YoY Change
Intangibles $1.896M $0.00
YoY Change
Long-Term Investments
YoY Change
Other Assets $105.1K $104.4K $103.1K
YoY Change 5.08% 2.01% 0.72%
Total Long-Term Assets $4.432M $4.536M $2.610M
YoY Change 87.26% 88.38% 4.92%
TOTAL ASSETS
Total Short-Term Assets $73.15M $53.19M $79.45M
Total Long-Term Assets $4.432M $4.536M $2.610M
Total Assets $77.59M $57.73M $82.06M
YoY Change -15.14% 1.22% 32.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.344M $3.345M $4.280M
YoY Change -43.68% 15.32% 94.34%
Accrued Expenses $16.97M $7.608M $6.970M
YoY Change 230.34% 75.12% 75.4%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $18.48M $11.11M $11.40M
YoY Change 140.92% 50.41% 80.65%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $393.0K $435.3K $517.0K
YoY Change -29.83% -26.77% -22.56%
Total Long-Term Liabilities $393.0K $435.3K $517.0K
YoY Change -29.83% -26.77% -22.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.48M $11.11M $11.40M
Total Long-Term Liabilities $393.0K $435.3K $517.0K
Total Liabilities $18.87M $11.55M $11.92M
YoY Change 129.41% 44.66% 70.77%
SHAREHOLDERS EQUITY
Retained Earnings -$353.1M -$350.3M -$321.7M
YoY Change 15.03% 17.87% 16.83%
Common Stock $57.89K $55.27K $54.94K
YoY Change 5.61% 20.67% 28.31%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $58.71M $46.18M $70.14M
YoY Change
Total Liabilities & Shareholders Equity $77.59M $57.73M $82.06M
YoY Change -15.14% 1.22% 32.27%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q4
OPERATING ACTIVITIES
Net Income -$2.777M -$14.15M -$14.75M
YoY Change -71.5% 25.53% 79.73%
Depreciation, Depletion And Amortization $77.41K $76.87K $18.67K
YoY Change 287.05% 341.02% -17.1%
Cash From Operating Activities -$13.65M -$14.04M -$10.75M
YoY Change 57.08% 63.78% 74.59%
INVESTING ACTIVITIES
Capital Expenditures $9.760K $34.79K $295.9K
YoY Change -2.4% 447.87% 129.85%
Acquisitions
YoY Change
Other Investing Activities $6.331M $6.303M $893.7K
YoY Change -1191.58% -364.91% 604.27%
Cash From Investing Activities $6.321M $6.269M $597.8K
YoY Change -1171.42% -362.74% -32239.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 14.07M 1.057M 467.6K
YoY Change -67.19% -80.25% -92.26%
NET CHANGE
Cash From Operating Activities -13.65M -14.04M -10.75M
Cash From Investing Activities 6.321M 6.269M 597.8K
Cash From Financing Activities 14.07M 1.057M 467.6K
Net Change In Cash 6.746M -6.715M -9.680M
YoY Change -79.94% 19.73% 8611.53%
FREE CASH FLOW
Cash From Operating Activities -$13.65M -$14.04M -$10.75M
Capital Expenditures $9.760K $34.79K $295.9K
Free Cash Flow -$13.66M -$14.07M -$11.04M
YoY Change 57.01% 64.06% 75.72%

Facts In Submission

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dei Document Type
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10-Q
dei Document Quarterly Report
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true
dei Document Period End Date
DocumentPeriodEndDate
2024-06-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-34673
dei Entity Registrant Name
EntityRegistrantName
CORMEDIX INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
20-5894890
dei Entity Address Address Line1
EntityAddressAddressLine1
300 Connell Drive
dei Entity Address Address Line2
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Suite 4200
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dei City Area Code
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dei Security12b Title
Security12bTitle
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5314803 usd
CY2023Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
233856 usd
CY2023Q2 us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
-198442 usd
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
1057291 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-10535 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-11273618 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
49051109 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
55059736 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
12515209 usd
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
233856 usd
us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
-198442 usd
us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
3273640 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
7954 usd
us-gaap Net Income Loss
NetIncomeLoss
-21840844 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
49051109 usd
us-gaap Net Income Loss
NetIncomeLoss
-28617612 usd
us-gaap Net Income Loss
NetIncomeLoss
-21840844 usd
us-gaap Share Based Compensation
ShareBasedCompensation
3708024 usd
us-gaap Share Based Compensation
ShareBasedCompensation
3273640 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
72110 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
65901 usd
us-gaap Depreciation
Depreciation
46750 usd
us-gaap Depreciation
Depreciation
34292 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
51948 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
206337 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1905215 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2130587 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1502179 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-934870 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
698353 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1361111 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
370099 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-73310 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-65578 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-31350210 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-18966316 usd
us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
19806594 usd
us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
42901487 usd
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
35116192 usd
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
25850000 usd
us-gaap Restricted Stock Expense
RestrictedStockExpense
154000 usd
CY2024Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000 shares
CY2024Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
96095 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
21124 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
15213503 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-17072611 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1009600 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
12515209 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
236615 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
198442 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
186482 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
233856 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
959467 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
12550623 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-893 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2531 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-15178133 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-23485773 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
43823192 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
43374745 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
28645059 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19888972 usd
us-gaap Interest Paid Net
InterestPaidNet
16391 usd
us-gaap Interest Paid Net
InterestPaidNet
14627 usd
us-gaap Liabilities Assumed1
LiabilitiesAssumed1
2000000 usd
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-8872 usd
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
5661 usd
CY2023 us-gaap Investment Income Operating Tax Expense Benefit
InvestmentIncomeOperatingTaxExpenseBenefit
1529000 usd
crmd Common Stock Remaining Share Value Available For Sale
CommonStockRemainingShareValueAvailableForSale
48800000 usd
crmd Common Stock Remaining Capacity
CommonStockRemainingCapacity
100000000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Use of Estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company bases its estimates and judgments on historical experience and various other assumptions that it believes are reasonable under the circumstances. The amounts of assets and liabilities and disclosure of contingent assets and liabilities in the Company’s consolidated balance sheets and the reported amounts of revenue and expenses reported for each of the periods presented are affected by estimates and assumptions. As future events and their effects cannot be determined with precision, actual results could differ significantly from those estimates.</p>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Reclassifications</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Certain reclassifications were made to the prior year’s amounts to conform to the 2024 presentation.</p>
us-gaap Revenues
Revenues
806119 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
28540633 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
19699565 usd
CY2024Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
104426 usd
CY2023Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
189407 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
28645059 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19888972 usd
CY2024Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
38300294 usd
CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
366 usd
CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
576 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
38300504 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
64920279 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1425 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
10506 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
64929360 usd
crmd Inventories Expensed As Research And Development
InventoriesExpensedAsResearchAndDevelopment
6359000 usd
CY2024Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
919801 usd
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
1525420 usd
CY2024Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
2014921 usd
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
580925 usd
CY2024Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1076838 usd
CY2024Q2 us-gaap Inventory Net
InventoryNet
4011560 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
2106345 usd
CY2024Q2 crmd Provisions For The Revenue Reserves
ProvisionsForTheRevenueReserves
194000 usd
crmd Provisions For The Revenue Reserves
ProvisionsForTheRevenueReserves
194000 usd
CY2024Q2 us-gaap Derivative Underlying Investment Shares
DerivativeUnderlyingInvestmentShares
2500625 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13801059 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11481809 shares
CY2024Q2 us-gaap Materials Supplies And Other
MaterialsSuppliesAndOther
994481 usd
CY2024Q2 us-gaap Prepaid Advertising
PrepaidAdvertising
595484 usd
CY2023Q4 us-gaap Prepaid Advertising
PrepaidAdvertising
171393 usd
CY2024Q2 us-gaap Insurance Settlements Receivable Current
InsuranceSettlementsReceivableCurrent
500000 usd
CY2024Q2 crmd Prepaid Subscriptions Current
PrepaidSubscriptionsCurrent
471325 usd
CY2023Q4 crmd Prepaid Subscriptions Current
PrepaidSubscriptionsCurrent
466114 usd
CY2024Q2 crmd Prepaid Medical Affairs Current
PrepaidMedicalAffairsCurrent
259145 usd
CY2024Q2 us-gaap Prepaid Insurance
PrepaidInsurance
107078 usd
CY2023Q4 us-gaap Prepaid Insurance
PrepaidInsurance
126616 usd
CY2024Q2 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
211509 usd
CY2023Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
118091 usd
CY2024Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3139022 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
882214 usd
CY2024Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1192682 usd
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2270022 usd
CY2024Q2 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
3438384 usd
CY2023Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
2718770 usd
CY2024Q2 crmd License Agreement Payable Current
LicenseAgreementPayableCurrent
2000000 usd
CY2024Q2 crmd Manufacturing Development Current
ManufacturingDevelopmentCurrent
389993 usd
CY2023Q4 crmd Manufacturing Development Current
ManufacturingDevelopmentCurrent
1835101 usd
CY2024Q2 crmd Accrued Grosstonet Deduction
AccruedGrosstonetDeduction
-150188 usd
CY2024Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
436290 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
146324 usd
CY2024Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
7607537 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6970217 usd
crmd Amount Of Initial Licensing Fee
AmountOfInitialLicensingFee
325000 usd
crmd Shares Of Equity Of Common Stock
SharesOfEquityOfCommonStock
7996 shares
crmd Number Of Shares Released In Escrow
NumberOfSharesReleasedInEscrow
7277 shares
crmd Maximum Aggregate Amount Of Cash Payments Due Upon Achievement Of Milestones
MaximumAggregateAmountOfCashPaymentsDueUponAchievementOfMilestones
3000000 usd
crmd Balance Of Cash Payments Due Upon Achievement Of Milestones
BalanceOfCashPaymentsDueUponAchievementOfMilestones
2000000 usd
CY2023 crmd Balance Of Cash Payments Due Upon Achievement Of Milestones
BalanceOfCashPaymentsDueUponAchievementOfMilestones
2000000 usd
crmd Additional Amount Of Achievement Of Milestones
AdditionalAmountOfAchievementOfMilestones
500000 usd
CY2024Q2 us-gaap Finite Lived License Agreements Gross
FiniteLivedLicenseAgreementsGross
2000000 usd
CY2024Q2 crmd License Agreement Payable Current
LicenseAgreementPayableCurrent
2000000 usd
CY2023Q2 crmd Purchase Of Additional Shares
PurchaseOfAdditionalShares
1500093 shares
CY2024Q2 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
150000000 usd
crmd Gross Proceeds Sale Of Common Stock Percentage
GrossProceedsSaleOfCommonStockPercentage
0.03 pure
CY2024Q2 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
100000000 usd
CY2024Q2 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
231097 shares
us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
231097 shares
us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
1010000 usd
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
62241 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
103734 shares
CY2024Q2 us-gaap Restricted Stock Expense
RestrictedStockExpense
114000 usd
us-gaap Restricted Stock Expense
RestrictedStockExpense
476000 usd
CY2023Q2 us-gaap Restricted Stock Expense
RestrictedStockExpense
68000 usd
us-gaap Restricted Stock Expense
RestrictedStockExpense
154000 usd
CY2024Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000 shares
CY2024Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
181622 shares
CY2024Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
181622 shares
CY2023Q4 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
21291665 usd
CY2024Q2 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
21291665 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y6M
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y11M23D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.9895 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0415 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.9
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2020Q3 us-gaap Payments For Leasing Costs
PaymentsForLeasingCosts
17000 usd
CY2024Q2 crmd Rental Agreement Expense
RentalAgreementExpense
400 usd
CY2024Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
52000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
104000 usd
CY2023Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
52000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
104000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
594000 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
159000 usd
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
435000 usd
CY2023Q4 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
21291665 usd
CY2024Q2 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
21291665 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y6M
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y11M23D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.9895 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0415 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.9
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2020Q3 us-gaap Payments For Leasing Costs
PaymentsForLeasingCosts
17000 usd
CY2024Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
52000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
104000 usd
CY2023Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
52000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
104000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
594000 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
159000 usd
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
435000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
668000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
151000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
517000 usd
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
568000 usd
CY2024Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
51000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
102000 usd
CY2023Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
50000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
100000 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y3M18D
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y3M18D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.09 pure
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.09 pure
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
668000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
151000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
517000 usd
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
568000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
640000 usd
CY2024Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
51000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
102000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
100000 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y3M18D
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y3M18D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.09 pure
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.09 pure
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
102000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
208000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
211000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
169000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
690000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
96000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
594000 usd
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q4 crmd License Intangible Asset Non Current
LicenseIntangibleAssetNonCurrent
usd
CY2023Q2 us-gaap Other Income
OtherIncome
usd
us-gaap Other Income
OtherIncome
usd
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.25
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.49
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57562064 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57620974 shares
crmd Cancellation Of Shares Held In Escrow
CancellationOfSharesHeldInEscrow
usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
usd
us-gaap Liabilities Assumed1
LiabilitiesAssumed1
usd
CY2023Q4 us-gaap Materials Supplies And Other
MaterialsSuppliesAndOther
usd
CY2023Q4 us-gaap Insurance Settlements Receivable Current
InsuranceSettlementsReceivableCurrent
usd
CY2023Q4 crmd Prepaid Medical Affairs Current
PrepaidMedicalAffairsCurrent
usd
CY2023Q4 crmd License Agreement Payable Current
LicenseAgreementPayableCurrent
usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
102000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
208000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
211000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
169000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
96000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
594000 usd
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
usd
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
usd
CY2023Q4 crmd License Intangible Asset Non Current
LicenseIntangibleAssetNonCurrent
usd
us-gaap Gross Profit
GrossProfit
usd
CY2023Q2 us-gaap Other Income
OtherIncome
usd
us-gaap Other Income
OtherIncome
usd
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.25
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.25
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.49
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.50
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
44731838 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45365635 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57562064 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57620974 shares
crmd Cancellation Of Shares Held In Escrow
CancellationOfSharesHeldInEscrow
usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
usd
us-gaap Liabilities Assumed1
LiabilitiesAssumed1
usd
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
usd
CY2023Q4 us-gaap Materials Supplies And Other
MaterialsSuppliesAndOther
usd
CY2023Q4 us-gaap Insurance Settlements Receivable Current
InsuranceSettlementsReceivableCurrent
usd
CY2023Q4 crmd Prepaid Medical Affairs Current
PrepaidMedicalAffairsCurrent
usd
CY2023Q4 crmd License Agreement Payable Current
LicenseAgreementPayableCurrent
usd
CY2023Q4 crmd Accrued Grosstonet Deduction
AccruedGrosstonetDeduction
usd
dei Amendment Flag
AmendmentFlag
false
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Central Index Key
EntityCentralIndexKey
0001410098
CY2023Q4 crmd Accrued Grosstonet Deduction
AccruedGrosstonetDeduction
usd
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Central Index Key
EntityCentralIndexKey
0001410098

Files In Submission

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0001213900-24-068600-index-headers.html Edgar Link pending
0001213900-24-068600-index.html Edgar Link pending
0001213900-24-068600.txt Edgar Link pending
0001213900-24-068600-xbrl.zip Edgar Link pending
crmd-20240630.xsd Edgar Link pending
ea0210278-10q_cormedix.htm Edgar Link pending
ea021027801ex31-1_cormedix.htm Edgar Link pending
ea021027801ex31-2_cormedix.htm Edgar Link pending
ea021027801ex32-1_cormedix.htm Edgar Link pending
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crmd-20240630_def.xml Edgar Link unprocessable
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crmd-20240630_cal.xml Edgar Link unprocessable
ea0210278-10q_cormedix_htm.xml Edgar Link completed