CorMedix Shares Drop 1.28% as $380M Volume Ranks 291st in Market Activity, $300M Melinta Acquisition Fuels Growth

On September 2, 2025, CorMedix (CRMD) closed with a 1.28% decline, despite a 879.72% surge in trading volume to $380 million, ranking it 291st in market activity. The biopharmaceutical firm finalized its $300 million acquisition of Melinta Therapeutics, a strategic move expanding its portfolio with seven marketed products, including REZZAYO™ and MINOCIN®. The transaction is projected to boost 2025 pro forma revenue to $325–$350 million and generate $35–$45 million in annual cost synergies. Management highlighted near-term EPS accretion, with double-digit growth expected in 2026.

The deal, funded by $260 million in cash and $40 million in equity, includes potential milestone payments tied to REZZAYO™’s expanded FDA approval for fungal infection prophylaxis. This could unlock up to $25 million in additional value if regulatory milestones are met by 2029. CorMedix’s leadership team now integrates Melinta’s executives, with Susan Blum joining as CFO and Dr. Matt David transitioning to Chief Business Officer. The company emphasized a phased integration approach, maintaining separate commercial teams temporarily while finalizing a unified structure by year-end.

The acquisition diversifies CorMedix’s revenue base beyond its flagship DefenCath® product, which is projected to contribute $200–$215 million in 2025. With Melinta’s $120 million 2024 revenue and $125–$135 million 2025 forecast, the combined entity aims to strengthen its hospital acute care and infectious disease market position. Analysts note the pro forma $165–$185 million adjusted EBITDA guidance implies a 50–53% margin, exceeding typical industry benchmarks, though achieving synergies may require operational discipline.

Backtest results indicate the stock’s 1.28% decline contrasted with a 13.5% average return for peers in the biopharma sector over the same period. The trade-off between immediate valuation pressures and long-term growth catalysts—such as REZZAYO™’s Phase III trial completion in early 2026—remains a key focus for investors.