08:20 AM EDT, 06/27/2025 (MT Newswires) -- CorMedix ( CRMD ) shares were over 11% lower premarket Friday after the company said it has priced an underwritten public offering of about 6.6 million shares for expected gross proceeds of about $85 million.

The offering is expected to close on or about June 30, the company said.

CorMedix ( CRMD ) said it granted underwriters a 30-day option to purchase up to an additional 15% of the shares offered in the offering.

The biopharmaceutical company said it intends to use the net proceeds for general corporate purposes that may include working capital, expenses tied to developing product candidates, and potential acquisitions, joint ventures or collaborations.