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Cidara Therapeutics Regains Compliance with Nasdaq Continued Listing Rules

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Cidara Therapeutics (Nasdaq: CDTX) announced it has regained compliance with Nasdaq's continued listing rules as of May 14, 2024. The company received confirmation from the Nasdaq Listing Qualifications Department. However, the Nasdaq Hearing Panel has imposed a discretionary monitor until May 14, 2025. During this period, any failure to maintain compliance will result in a delist determination letter and a subsequent hearing to address the issue.

Positive
  • Cidara Therapeutics has regained compliance with Nasdaq's continued listing requirements.
  • The company received official confirmation of compliance from the Nasdaq Listing Qualifications Department as of May 14, 2024.
Negative
  • A discretionary Panel monitor has been imposed until May 14, 2025, meaning Cidara Therapeutics remains under scrutiny.
  • Any failure to maintain compliance during the monitoring period will result in a delist determination letter and necessitate a new hearing.

SAN DIEGO, May 15, 2024 (GLOBE NEWSWIRE) -- Cidara Therapeutics, Inc. (Nasdaq: CDTX), 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, today announced that on May 14, 2024 it received a letter from the Listing Qualifications Department staff (the Staff) of the Nasdaq Stock Market LLC (Nasdaq) notifying the Company that it has regained compliance with Nasdaq’s requirements for continued listing. In addition, the Nasdaq Hearing Panel (the Panel) imposed a discretionary Panel monitor until May 14, 2025, such that if the Company fails to maintain compliance with any continued listing requirement during such period, the Staff will issue a delist determination letter and the Company will promptly schedule a new hearing before the Panel to address such noncompliance.

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 serious diseases by inhibiting specific disease targets while simultaneously engaging the immune system. Cidara is headquartered in San Diego, California. For more information, please visit www.cidara.com.

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

MEDIA CONTACT:
Michael Fitzhugh
LifeSci Communications
mfitzhugh@lifescicomms.com

 


FAQ

What recent compliance update has Cidara Therapeutics (CDTX) announced?

Cidara Therapeutics announced it has regained compliance with Nasdaq's continued listing rules as of May 14, 2024.

What will happen if Cidara Therapeutics fails to maintain compliance with Nasdaq's requirements?

If Cidara Therapeutics fails to maintain compliance, the Nasdaq Staff will issue a delist determination letter, and the company will need to schedule a new hearing before the Panel.

Until when is Cidara Therapeutics under the discretionary monitor imposed by the Nasdaq Hearing Panel?

Cidara Therapeutics is under the discretionary monitor until May 14, 2025.

Cidara Therapeutics, Inc.

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