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Prospectus
Supplement
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Filed
pursuant to Rule 424(b)(5)
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(to
Prospectus dated April 16, 2018)
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Registration
No. 333-223562
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$25,000,000
Common Stock
This
prospectus supplement updates, amends and supplements the
information previously included in our prospectus, dated April 16,
2018, which we refer to as the original prospectus. We have entered
into an At Market Issuance Sales Agreement, dated March 9, 2018,
with B. Riley FBR, Inc., or B. Riley FBR, as sales agent. The sales
agreement relates to the sale of shares of our common stock offered
by the original prospectus and this prospectus supplement. In
accordance with the terms of the sales agreement, under the
original prospectus and this prospectus supplement, we may now
offer and sell shares of our common stock, $0.001 par value per
share, having an aggregate offering price of up to $25,000,000 from
time to time through B. Riley FBR, acting as agent. Prior to the
date of this prospectus supplement, we had sold an aggregate of
approximately $14.7 million of our common stock pursuant to the
sales agreement.
Our
common stock is traded on the NYSE American under the symbol
“CRMD.” The last reported sale price of our common
stock on November 14, 2018 was $1.13 per share.
Sales
of our common stock, if any, under this prospectus will be made by
any method permitted that is deemed an “at the market
offering” as defined in Rule 415 under the Securities Act of
1933, as amended, or the Securities Act. B. Riley FBR is not
required to sell any specific amount, but will act as our sales
agent using commercially reasonable efforts consistent with its
normal trading and sales practices. There is no arrangement for
funds to be received in any escrow, trust or similar
arrangement.
B.
Riley FBR will be entitled to compensation at a commission rate
equal to 3% of the gross sales price per share sold. In connection
with the sale of the common stock on our behalf, B. Riley FBR will
be deemed to be an “underwriter” within the meaning of
the Securities Act and the compensation of B. Riley FBR will be
deemed to be underwriting commissions or discounts. We have also
agreed to provide indemnification and contribution to B. Riley FBR
with respect to certain liabilities, including liabilities under
the Securities Act.
Investing
in our common stock involves a high degree of risk. Please read the
information contained in and incorporated by reference under the
heading “Risk Factors” beginning on page 6 of the
original prospectus, the section captioned “Item
1A—Risk Factors” in our most recently filed annual
report on Form 10-K, which is incorporated by reference into this
prospectus supplement and the original prospectus, and under
similar headings in the other documents that are filed after the
date hereof and incorporated by reference into this prospectus
supplement and the original prospectus.
This
prospectus supplement should be read in conjunction with the
original prospectus, and is qualified by reference to the original
prospectus, except to the extent that the information presented
herein supersedes the information contained in the original
prospectus. This prospectus supplement is not complete without, and
may not be delivered or used except in connection with, the
original prospectus.
Neither
the Securities and Exchange Commission nor any state securities
commission has approved or disapproved of these securities or
determined if the original prospectus or this prospectus supplement
are truthful or complete. Any representation to the contrary is a
criminal offense.
B. Riley FBR
The
date of this prospectus supplement is November 15,
2018.