Long Term Returns of Paul Singer’s 5 Activist Targets

2. CorMedix Inc. (NASDAQ:CRMD)

Activist Investment: 2021
Long-Term Returns Since Singer’s Investment: -46%
S&P 500 Gain Since Singer’s Investment: 19%

CorMedix Inc. (NASDAQ:CRMD) is a biopharmaceutical company that develops and commercializes therapeutic products to prevent and treat infectious diseases. Elliot management first disclosed a 9.9% stake in the company in 2021 and initiated talks with the board and management regarding strategic alternatives.

The activist investor reiterated that CorMedix Inc. (NASDAQ:CRMD) was highly undervalued and backed by solid lead products, including Defencath, a catheter solution. Consequently, it started pushing for operational improvements, management changes, and improved capital structure to help maximize shareholder value. Elliott Management also suggested the company consider a potential sale or partner with a larger pharmaceutical company.

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