Cidara Therapeutics Announces Inclusion in the Russell 2000® and Russell 3000® Indexes

Rhea-AI Summary

Cidara Therapeutics (Nasdaq: CDTX), a biotechnology company focused on drug-Fc conjugate therapeutics through its Cloudbreak® platform, has announced its inclusion in both the Russell 2000® and Russell 3000® Indexes. The Russell 3000 Index represents the 3,000 largest U.S. companies by market cap, covering approximately 98% of the investable U.S. equity market, while the Russell 2000 Index focuses on the small-cap segment.

CEO Jeffrey Stein highlighted this milestone alongside other recent company achievements, including positive Phase 2b NAVIGATE trial results and a successful $400 million financing round. The index inclusion is expected to increase Cidara's visibility among institutional investors.

Positive

• Inclusion in both Russell 2000® and Russell 3000® Indexes, increasing institutional visibility
• Successfully completed $400 million financing round
• Reported positive data from Phase 2b NAVIGATE trial

Negative

• None.

SAN DIEGO, June 30, 2025 (GLOBE NEWSWIRE) -- Cidara Therapeutics, Inc. (Nasdaq: CDTX), a biotechnology company applying its proprietary Cloudbreak^® platform to develop drug-Fc conjugate (DFC) therapeutics, today announced its addition to the Russell 2000^® and Russell 3000^® Indexes.

The Russell 3000 Index encompasses the 3,000 largest U.S. companies by market capitalization, representing approximately 98% of the investable U.S. equity market. The Russell 2000 Index is a subset of the Russell 3000, measuring the performance of the small-cap segment. 

“Being included in the Russell 2000 and Russell 3000 Indexes is an important milestone for the company and represents the progress we continue to make,” said Jeffrey Stein, Ph.D., president and chief executive officer of Cidara. “Following the recent positive data from our Phase 2b NAVIGATE trial, as well as our successful $400 million financing, the inclusion in these indexes only further enhances our visibility with the institutional investment community.”

About Cidara Therapeutics
Cidara Therapeutics is using its proprietary Cloudbreak^® platform to develop novel drug-Fc conjugates (DFCs) comprising targeted small molecules or peptides coupled to a proprietary human antibody fragment (Fc). Cidara’s lead DFC candidate, CD388, is a long-acting antiviral designed to achieve universal prevention of seasonal and pandemic influenza with a single dose by directly inhibiting viral proliferation. In June 2023, CD388 was granted Fast Track Designation by the U.S. Food and Drug Administration (FDA), and the Company announced completion of enrollment of its Phase 2b NAVIGATE trial in December 2024. Additional DFCs have been developed for oncology and in July 2024 Cidara received investigational new drug application clearance for CBO421 which is intended to target CD73 in solid tumors. Cidara is headquartered in San Diego, California. For more information, please visit www.cidara.com.

Forward-Looking Statements
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “anticipates,” “expect,” “intends,” “believes,” “may,” “plan” or “will”. Forward-looking statements in this release include, but are not limited to, statements related to the potential benefits of and future plans for CD388, a planned Phase 3 trial of CD388 and the expected timing for presenting additional results from the NAVIGATE trial. Such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, such as unanticipated delays in or negative results from Cidara’s clinical trials and other risks related to clinical development, delays in action by regulatory authorities, other obstacles on the enrollment of patients or other aspects of CD388 or other DFC development and other risks and uncertainties associated with Cidara’s business in general. These and other risks are identified under the caption “Risk Factors” in Cidara’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and other filings subsequently made with the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management’s assumptions and estimates as of such date. Cidara does not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise.

INVESTOR CONTACT:
Brian Ritchie
LifeSci Advisors
(212) 915-2578
britchie@lifesciadvisors.com

MEDIA CONTACT:
Michael Fitzhugh
LifeSci Communications
(628) 234-3889
mfitzhugh@lifescicomms.com

FAQ

What indexes was Cidara Therapeutics (CDTX) added to in June 2025?

Cidara Therapeutics was added to both the Russell 2000® and Russell 3000® Indexes, which track the largest 3,000 U.S. companies by market capitalization.

What recent achievements did Cidara Therapeutics (CDTX) report along with the Russell indexes inclusion?

Cidara reported positive Phase 2b NAVIGATE trial results and completed a $400 million financing round.

What is the significance of Cidara Therapeutics' inclusion in the Russell indexes?

The inclusion enhances Cidara's visibility with institutional investors and represents its position among the top 3,000 U.S. companies by market capitalization.

What is Cidara Therapeutics' main technology platform?

Cidara Therapeutics utilizes its proprietary Cloudbreak® platform to develop drug-Fc conjugate (DFC) therapeutics.