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

CorMedix Inc. has filed a Schedule 13D disclosing its acquisition of 9,090,909 shares of common stock in Talphera, Inc., representing approximately 19.95% of the outstanding shares. The shares were purchased at $0.55 per share, totaling $4,999,999.95, using CorMedix's working capital. The transaction was executed under a securities purchase agreement dated September 7, 2025, with the first closing occurring on September 10, 2025. CorMedix has the right to designate one member to Talphera's board of directors as long as it owns at least 25% of the shares purchased. Additionally, CorMedix has secured an exclusive negotiation right for 60 days following the public announcement of the NEPHRO CRRT clinical study results to potentially acquire 100% of Talphera's capital stock. The shares were acquired for investment purposes, and CorMedix intends to participate in Talphera's management through board representation.