04:12 PM EDT, 06/26/2025 (MT Newswires) -- CorMedix ( CRMD ) late Thursday disclosed plans for an $85 million public offering of its common stock, subject to market and other conditions.

The biopharmaceutical company also expects to provide underwriters for the upcoming stock sale with a 30-day option equal to 15% of the shares sold to cover potential overallotments.

CorMedix ( CRMD ) will use net proceeds from the offering for general corporate purposes, working capital, research and development and potential strategic transactions, including acquisitions, joint ventures or strategic collaborations.

CorMedix ( CRMD ) shares recently were falling 11% in after-hours activity.