CorMedix to buy Melinta in $300 mn deal, retail turns bullish
CorMedix shares jumped as retail chatter surged after it agreed to acquire Melinta Therapeutics for $300 million, adding seven marketed drugs and targeting near-term earnings growth. The deal, partly funded via $150 million convertible debt, could boost 2025 revenue to $305-$335 million and cut costs by up to $45 million annually. Closing is expected by September 1.