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Cidara Therapeutics Announces Receipt of Nasdaq Delinquency Notice

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Cidara Therapeutics, a biotechnology company, received a delinquency notice from Nasdaq for failing to file its Annual Report on Form 10-K. The company plans to submit its compliance plan and has implemented a 1-for-20 reverse stock split to maintain its listing.
Cidara Therapeutics, un'azienda biotecnologica, ha ricevuto un avviso di inadempienza da Nasdaq per non aver presentato il suo Rapporto Annuale sul modulo 10-K. L'azienda prevede di presentare il suo piano di conformità e ha attuato una scissione azionaria inversa di 1 per 20 per mantenere la sua quotazione.
Cidara Therapeutics, una empresa biotecnológica, recibió una notificación de incumplimiento de Nasdaq por no presentar su Informe Anual en el Formulario 10-K. La compañía planea entregar su plan de cumplimiento y ha implementado una división inversa de acciones de 1 por 20 para mantener su listado.
바이오테크놀로지 회사인 시다라 테라퓨틱스가 연례 보고서 10-K 양식을 제출하지 않아 나스닥으로부터 연체 통지를 받았습니다. 이 회사는 준수 계획을 제출할 예정이며, 상장을 유지하기 위해 1대 20의 주식 역분할을 시행했습니다.
Cidara Therapeutics, une entreprise de biotechnologie, a reçu un avis de manquement de la part du Nasdaq pour ne pas avoir déposé son rapport annuel sur le formulaire 10-K. La société prévoit de soumettre son plan de conformité et a mis en œuvre un regroupement d'actions inversé de 1 pour 20 pour maintenir sa cotation.
Cidara Therapeutics, ein biotechnologisches Unternehmen, erhielt eine Mängelanzeige von Nasdaq, weil es seinen Jahresbericht auf Formular 10-K nicht eingereicht hat. Das Unternehmen plant, seinen Compliance-Plan einzureichen und hat eine 1-zu-20 Reverse Aktiensplit durchgeführt, um seine Notierung zu erhalten.
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SAN DIEGO, April 22, 2024 (GLOBE NEWSWIRE) -- Cidara Therapeutics, Inc. (Nasdaq: CDTX) (the Company), a biotechnology company using its proprietary Cloudbreak® platform to develop drug-Fc conjugate (DFC) immunotherapies designed to save lives and improve the standard of care for patients facing serious diseases, announced on April 17, 2024, that the Company received a notice from the Listing Qualifications Staff of The Nasdaq Stock Market LLC (Nasdaq) advising the Company that its failure to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the Form 10-K) with the Securities and Exchange Commission (the SEC), in contravention of Nasdaq Listing Rule 5250(c)(1) (the Filing Requirement), could serve as an additional deficiency and basis for the delisting of the Company’s securities from Nasdaq.

The Company was provided with the opportunity and plans to timely submit its plan to evidence compliance with the Filing Requirement for consideration by the Nasdaq Hearings Panel (the Panel)  indicating that the Company filed the Form 10-K with the SEC on April 22, 2024, and as announced on April 22, 2024, will implement a reverse stock split of its common stock at a ratio of 1-for-20 shares effective for marketplace purposes with the open of business on Wednesday, April 24, 2024.

As previously disclosed, by letter dated February 8, 2024, the Panel granted the Company’s request for continued listing on Nasdaq, subject to the Company regaining compliance with Nasdaq’s $1.00 bid price requirement by May 7, 2024.

About Cidara Therapeutics

Cidara Therapeutics is using its proprietary Cloudbreak® platform to develop novel drug-Fc conjugates (DFCs). These targeted immunotherapies offer the unique opportunity to create “single molecule cocktails” comprised of targeted small molecules and peptides coupled to a human antibody fragment (Fc). DFCs are designed to save lives and improve the standard of care for patients facing cancers and other serious diseases by inhibiting specific disease targets while simultaneously engaging the immune system. In addition, Cidara received FDA and EC approval for REZZAYO® (rezafungin for injection), which it has licensed to multiple partners to commercialize in the U.S. and ex-U.S. 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,” “may,” “plan” or “will”. Forward-looking statements in this release include, but are not limited to, statements related to the Company’s implementation of a reverse stock split, the Company’s provision of written notice to the Panel, and the Company’s ability to regain compliance with the Nasdaq continued listing standards. 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. These and other risks are identified under the caption “Risk Factors” in Cidara’s most recent Annual Report on Form 10-K and other filings subsequently made with the Securities and Exchange Commission. 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: 
Veronica Eames
LifeSci Communications
(646) 970-4682
veames@lifescicomms.com


FAQ

Why did Cidara Therapeutics receive a delinquency notice from Nasdaq?

Cidara Therapeutics received a delinquency notice from Nasdaq for failing to file its Annual Report on Form 10-K.

What action did Cidara Therapeutics take in response to the delinquency notice?

Cidara Therapeutics plans to submit its compliance plan and has implemented a 1-for-20 reverse stock split.

When did Cidara Therapeutics file its Form 10-K with the SEC?

Cidara Therapeutics filed its Form 10-K with the SEC on April 22, 2024.

What is the effective date of the reverse stock split implemented by Cidara Therapeutics?

The reverse stock split of Cidara Therapeutics' common stock at a ratio of 1-for-20 shares is effective for marketplace purposes on April 24, 2024.

Cidara Therapeutics, Inc.

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Biological Product (except Diagnostic) Manufacturing
Manufacturing
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United States of America
SAN DIEGO