CorMedix Inc. Segments Disclosure

Note 10 — Segment Reporting

 

As noted above, the Company’s primary focus is the commercialization of our lead product, DefenCath indicated to reduce the incidence of catheter-related bloodstream infections in adult patients with kidney failure receiving chronic hemodialysis through a CVC.

 

The Company has determined that it currently operates in a single segment - Drug Product, located in a single geographic location – the United States. The accounting policies of the segment are the same as those described in the summary of significant accounting policies. Since the Company operates in a single segment, the measure of segment total assets and loss from operations is the same as that reported on the accompanying balance sheets as total assets, and the accompanying statement of operations as loss from operations, respectively.

 

The Company’s Chief Executive Officer is the Chief Operating Decision Maker (“CODM”). The CODM manages the Company’s business activities as a single operating and reportable segment. The CODM uses consolidated profit and loss to evaluate and measure performance against progress in its commercialization efforts and clinical trials. The following table sets forth significant segment expenses.

 

		December 31,
		2024				2023
Research and development:
Employee expense		$	2,454,650			$	7,210,785
Other research and development			1,487,620				5,944,341
Total research and development			3,942,270				13,155,125
Selling and marketing
Employee expense		$	13,493,663			$	2,552,846
Other selling and marketing			15,242,942				15,562,467
Total selling and marketing expense			28,736,605				18,115,313
General and administrative
Employee expense		$	18,321,459			$	10,961,034
Other general and administrative			11,637,691				6,726,316
Total general and administrative expense			29,959,150				17,687,350
Total operating expenses		$	62,638,025			$	48,957,788