SCHEDULE: Deep Track Capital Discloses 6.29% Stake in CorMedix

Deep Track Capital, LP and affiliates have reported a beneficial ownership of 6.29% in CorMedix Inc., totaling 4,955,487 common shares.

Summary

• Deep Track Capital, LP, Deep Track Biotechnology Master Fund, Ltd., and David Kroin collectively reported beneficial ownership of 4,955,487 shares of CorMedix Inc. common stock.
• This represents 6.29% of CorMedix Inc.'s outstanding common stock.
• The shares were acquired for investment purposes and not to change or influence control of the issuer.
• The percentage of class is calculated based on 78,789,045 common shares outstanding as of November 10, 2025, as reported in CorMedix Inc.'s 10-Q filed on November 12, 2025.

Sentiment

Score: 6

Explanation: The filing is a routine disclosure of a significant passive investment. While not directly impacting company operations, a substantial stake by an institutional investor like Deep Track Capital can be seen as a vote of confidence, hence slightly positive sentiment.

Positives

• A significant institutional investor, Deep Track Capital, has taken a substantial stake in CorMedix Inc., potentially signaling confidence in the company's long-term prospects.
• The investment is stated to be for passive purposes, not seeking to influence control, which can be viewed positively by current management and other shareholders.

Risks

• The reporting persons certify that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, which means the company cannot rely on this investor for activist support or a potential takeover premium.

Future Outlook

NA

Management Comments

• We certify that, to the best of our knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11.

Industry Context

NA

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake by Deep Track Capital may instill confidence among existing shareholders, potentially signaling a positive long-term view of CorMedix Inc.

Key Dates

Keywords

CorMedix Inc., Deep Track Capital, Deep Track Biotechnology Master Fund, David Kroin, Schedule 13G, Beneficial Ownership, Institutional Investment, Biotechnology, Healthcare, CMDX