BERKELEY HEIGHTS, N.J., July 28, 2020 (GLOBE NEWSWIRE) -- CorMedix Inc. (NYSE American: CRMD) (the “Company”), a biopharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of infectious and inflammatory disease, announced today that it has priced its underwritten public offering of 4,444,444 shares of its common stock at $4.50 per share for total gross proceeds, before underwriting commissions and estimated expenses, of approximately $20 million. In connection with the offering, the Company granted the underwriters a 30-day option to purchase up to an additional 666,666 shares of common stock. The offering is expected to close on July 30, 2020, subject to customary closing conditions.

The Company plans to use the net proceeds for general corporate purposes, including obtaining regulatory approval and commercialization of Defencath™ in the U.S., research and development, and working capital and capital expenditures.

SunTrust Robinson Humphrey and JMP Securities are acting as joint book-running managers for the offering.

About CorMedix

CorMedix Inc. is a biopharmaceutical company focused on developing its lead product Defencath™ in the U.S. as a catheter lock solution with an initial indication for use of preventing catheter-related bloodstream infections in patients with end-stage renal disease who are receiving hemodialysis via a central venous catheter.