CorMedix Inc. Acquires 19.95% Stake in Talphera, Inc.

CorMedix Inc. has filed a Schedule 13D with the SEC, disclosing its acquisition of a 19.95% stake in Talphera, Inc. The acquisition involved the purchase of 9,090,909 shares of common stock at $0.55 per share, totaling $4,999,999.95. The transaction was completed on September 10, 2025, following a securities purchase agreement dated September 7, 2025. CorMedix Inc. has the right to designate one member to Talphera's board of directors as long as it owns at least 25% of the shares acquired. Additionally, CorMedix has an exclusive 60-day period to negotiate an acquisition of Talphera following the public announcement of the NEPHRO CRRT clinical study results. The shares were acquired for investment purposes, and CorMedix intends to participate in Talphera's management through board representation. The filing also includes details of a registration rights agreement, which allows for the resale of the shares.