March 26, 2010 (FinancialWire) — CorMedix Inc. (AMEX: CRMD), a pharmaceutical company, has priced its initial public offering of 1.925 million units at $6.50 per unit. Each unit consists of two shares of CorMedix common stock and a warrant to purchase one share of common stock at a price of $3.4375.

All of the units are being offered by CorMedix. The units are scheduled to begin trading March 25 on the NYSE AMEX under the symbol “CRMD.U." In addition, CorMedix has granted the underwriters a 45-day option to purchase up to an additional 288,750 units to cover over-allotments.

Maxim Group is the sole book-running manager for the offering.

New Jersey-based CorMedix is a pharmaceutical company that seeks to in-license, develop and commercialize therapeutic products for the treatment of cardiac and renal dysfunction, also known as cardiorenal disease.

CorMedix’s goal is to treat kidney disease by reducing the commonly associated cardiovascular and metabolic complications, in effect, treating the kidney to treat the heart.

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