Cidara Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(C)(4)

Rhea-AI Summary

Cidara Therapeutics (Nasdaq: CDTX), a biotechnology company focused on developing drug-Fc conjugate therapeutics through its Cloudbreak® platform, has announced new equity grants to two employees. The Compensation Committee approved non-qualified stock options and restricted stock units (RSUs) totaling 12,100 shares of common stock under the company's 2020 Inducement Incentive Plan.

The stock options were granted at an exercise price of $48.71 per share, matching Cidara's closing price on June 30, 2025. The options will vest over four years, with 25% vesting after one year and the remainder vesting monthly over 36 months. The RSUs will vest in four equal annual installments on specified quarterly vesting dates.

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SAN DIEGO, July 01, 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 that the Compensation and Human Capital Committee of its Board of Directors (Compensation Committee) granted non-qualified stock option awards and restricted stock units (RSUs) for an aggregate of 12,100 shares of its common stock to two new employees, pursuant to the Cidara Therapeutics, Inc. 2020 Inducement Incentive Plan, as amended (the Inducement Plan), with a grant date of June 30, 2025. The stock option has an exercise price of $48.71 per share, which is equal to the closing price of Cidara’s common stock on the grant date. The shares subject to the option will vest over four years, with 25% of the shares vesting on the one-year anniversary of the vesting commencement date and the balance of the shares vesting in a series of 36 successive equal monthly installments thereafter. All RSUs vest in four equal annual installments, with 1/4 vesting on each of the first, second, third and fourth anniversaries of the Quarterly Vesting Date (as defined below) that occurs during the calendar quarter that includes the date of grant. “Quarterly Vesting Date” means March 10, June 10, September 10 or December 10. The awards are subject to the award holder’s continuous service through each vesting date and to the terms and conditions of the Inducement Plan and the standard forms of grant agreements thereunder.

The foregoing equity awards were granted as inducements material to the employees entering into employment with Cidara, in accordance with Nasdaq Listing Rule 5635(c)(4). The Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Cidara, or following a bona fide period of non-employment, as an inducement material to such individual’s entering into employment with Cidara, pursuant to Nasdaq Listing Rule 5635(c)(4).

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.

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 equity grants did Cidara Therapeutics (CDTX) announce on July 1, 2025?

Cidara announced stock options and RSUs totaling 12,100 shares of common stock granted to two new employees, with options having an exercise price of $48.71 per share.

What is the vesting schedule for Cidara's (CDTX) newly granted stock options?

The stock options vest over 4 years, with 25% vesting after one year and the remaining vesting in 36 monthly installments.

How do the RSUs vest in Cidara's (CDTX) new employee equity grants?

The RSUs vest in four equal annual installments, with 1/4 vesting on each anniversary of the Quarterly Vesting Date (March 10, June 10, September 10, or December 10).

Why did Cidara Therapeutics (CDTX) issue these equity grants?

The equity awards were granted as inducements material to new employees joining Cidara, in accordance with Nasdaq Listing Rule 5635(c)(4).