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CorMedix Inc.
8/13/2026
Good morning and welcome to the CORE Medix second quarter 2026 earnings and corporate update conference call. Today's conference call is being recorded. There will be a question and answer session at the end of today's presentation and instructions on how to ask a question will be given at that time. At this time, I would like to turn the conference call over to Dan Ferry from LifeSci Advisors. Please go ahead.
Good morning, and welcome to the Corps Medics second quarter 2026 earnings and corporate update conference call. Leading the call today is Joe Todisco, Chairman and Chief Executive Officer of Corps Medics. He is joined by Liz Hurlburt, EVP and Chief Operating and Commercial Officer, and Susan Blum, EVP and Chief Financial Officer. In addition, Beth Zelnick-Kaufman, EVP and Chief Legal and Compliance Officer and Corporate Secretary, and Dr. Matt David, EVP and Chief Business Officer, are on the line and will be available during the Q&A session. Before we begin, I would like to remind everyone that during the call, management may make what are known as forward-looking statements within the meeting set forth in Thank you for joining us. and investors should not place undue reliance on these statements. CoreMedix does not intend to update these forward-looking statements except as required by law. During this call, the company will discuss certain non-GAAP measures of its performance. GAAP to non-GAAP financial reconciliations and supplemental financial information are provided in CoreMedix earnings release and the current report on Form 8K filed with the SEC. This information is also available on the investor relations section of CoreMedix website. At this time, it is now my pleasure to turn the call over to Joe Todisco, Chairman and Chief Executive Officer of CoreMedix. Joe, please go ahead.
Thank you, Dan. Good morning, everyone, and thank you for joining us on this call. In the second quarter, we continue to execute on our core strategic initiatives, solidifying DefendCat's market position as we navigate the evolving posted apple landscape, meaningfully advancing our high-value pipeline, highlighted by the positive phase three respect data for RISEO, and now working collaboratively with Moody Pharma towards their submission of the SMBA for Uzair in the prophylaxis of invasive fungal disease. And lastly, deploying our capital in a disciplined manner to drive long-term value for shareholders while building an increasingly diversified and resilient business. We announced this morning second quarter consolidated revenue of $101.9 million and adjusted EBITDA of $58.7 million. Susan will provide more granular details of second quarter financial results. Today we also announced that we've signed a multi-year commercial supply agreement for DefendCat with an additional large dialysis organization, or LDO. With this agreement, CoreMedix now has commercial supply agreements in place with all five of the top dialysis providers in the U.S. The newly signed LDO has placed initial order and will initially begin a pilot of DefendCat in the third quarter of this year with a potential opportunity to expand utilization in 2027. We view the signing of this agreement as an important milestone and validation of DefendCat's clinical value proposition with the largest providers in the U.S. dialysis market. Turning to guidance, we are reaffirming our full-year 2026 revenue guidance with a range of $325 million to $345 million and raising our full-year adjusted EBITDA guidance to a new range of $125 to $140 million. We will revisit guidance as the year progresses and as we gain additional visibility into post-DAPA ordering patterns. While we're only a few weeks into the third quarter, Bankath order volumes in July have tracked consistent with the posted APA forecast underlying our financial guidance. In addition to the new LDO agreement, we have signed contract amendments with our major customers covering third and fourth quarter 2026 pricing, and in some instances, pricing and volume commitments for 2027. These amendments give us improved visibility into pricing and utilization through year end and are designed to keep patients on therapy through the reimbursement transition. We continue to focus significant internal resources on the DefendCat growth strategy through Medicare Advantage contracting, and I'm pleased with the progress of those discussions to date. Contracting cycles with these plans can be lengthy, and we have not assumed a contribution from Medicare Advantage in our 2026 guidance. We continue to believe Medicare Advantage represents a meaningful long-term growth avenue for DefendCat. Thank you. Thank you. trial results from the RESPECT study, a Phase III clinical study evaluating Roseo for the prophylaxis of invasive fungal disease in adult immunosuppressed patients of invasive fungal disease, or IFD. Assuming timely submission and FDA acceptance of the filing, We would anticipate agency action in the first half of the year, including the anticipated addition of 15 to 20 positions across both commercial and medical. These investments are sized to allow us to move quickly in approval while preserving flexibility of regulatory timeline shift and are already reflected in our narrowed full-year cash-off X guidance of $145 to $155 million. As a reminder, our CashFX guidance excludes non-cash charges such as stock-based compensation. I would now like to turn the call over to our Chief Operating Commercial Officer, Liz Hurlburt, to provide an update on clinical activities. Liz, please go ahead.
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