Cidara Theraptcs Stock Price, News & Analysis

Cidara Therapeutics (NASDAQ: CDTX) reported its Q2 2022 financial results, revealing revenues of $6.2 million, down from $32.9 million in Q2 2021. The company achieved a key milestone with the submission of an NDA for rezafungin to treat candidemia and invasive candidiasis. A licensing agreement with Melinta Therapeutics could yield up to $460 million. However, a net loss of $13.1 million was recorded for Q2, contrasting with a net income of $10.7 million in the prior year. Cash reserves dwindled to $25.0 million from $62.3 million since the start of 2022.

Cidara Therapeutics has submitted a New Drug Application (NDA) for rezafungin to the U.S. FDA for treating candidemia and invasive candidiasis, with an expected action date in early 2023. The company signed an agreement with Melinta Therapeutics, granting them exclusive rights to commercialize rezafungin in the U.S., potentially earning Cidara up to $460 million, including an upfront payment of $30 million and milestone payments. Rezafungin, a novel once-weekly antifungal, has shown positive results in clinical trials, making it a significant treatment option for patients with serious fungal infections.

Cidara Therapeutics will host a virtual R&D day on July 7, 2022, at 10 AM ET to showcase its Cloudbreak platform in oncology. Key opinion leaders, including Ezra Cohen and Perry Nisen, will discuss the advantages of Drug-Fc Conjugates (DFCs) over traditional therapies. Cidara's collaboration with Janssen Pharmaceuticals on CD388, currently in Phase 1 studies, will also be highlighted. Attendees can submit questions during the session. For more details and registration, click here.

Tentarix Biotherapeutics has established a new Scientific Advisory Board (SAB) to enhance its development of targeted, conditional antibody-based therapies. The SAB includes immunology and cancer biology experts Thomas Bumol, Brian Kuhlman, and John Teijaro. Tentarix also appointed Donald Santel and Bumol to its Board of Directors, with Santel as chairperson, and hired Brady Johnson as Senior VP of Finance and Operations. These strategic appointments aim to bolster Tentarix’s leadership and advance its innovative pipeline of biologics for patient care.

Cidara Therapeutics (NASDAQ: CDTX) reported a strong Q1 2022, achieving $7.1 million in revenue, up from $2.4 million in Q1 2021, primarily due to a collaboration with Janssen Pharmaceuticals. The company advanced its product pipeline, notably initiating a Phase 1 trial of CD388, an influenza drug, and preparing to submit a New Drug Application for rezafungin in mid-2022. However, cash reserves decreased to $38 million from $62 million.

The Phase 3 ReSTORE trial of rezafungin by Cidara Therapeutics (NASDAQ: CDTX) met its primary endpoints, demonstrating non-inferiority to caspofungin for treating candidemia and invasive candidiasis. Results showed 23.7% all-cause mortality at day 30 for rezafungin against 21.3% for caspofungin. Early mycological efficacy was high, with 53.7% negative blood cultures at 24 hours for rezafungin. Tolerability profiles were similar, with no concerning treatment emergent adverse events reported. NDA submission to the FDA is anticipated in mid-2022.

Cidara Therapeutics (NASDAQ: CDTX) and Mundipharma are set to present new clinical data on rezafungin, a novel echinocandin for treating candidemia and invasive candidiasis, at the 32nd European Congress of Clinical Microbiology and Infectious Diseases (ECCMID) from April 23-26, 2022. The data includes results from the global Phase 3 ReSTORE trial and analyses from STRIVE Phase 2 trials. Notably, there will be two late-breaking presentations, highlighting the significant advancements in this promising treatment.

Cidara Therapeutics (Nasdaq: CDTX) has initiated a Phase 1 trial for CD388, a long-acting antiviral immunotherapy aimed at universal prevention of seasonal and pandemic influenza. The trial, conducted in collaboration with Janssen Pharmaceuticals, is a randomized, double-blind study assessing the safety and pharmacokinetics of CD388 in healthy volunteers. Initial safety and pharmacokinetics data are expected in the second half of 2022. CD388 targets a conserved region on the influenza virus, presenting a novel approach to improve flu prevention, especially for high-risk patients.

Cidara Therapeutics (CDTX) reported financial results for Q4 and full year 2021, showcasing substantial progress in its development pipeline. Q4 revenue reached $7.2 million, with full-year revenue of $49.6 million, up from $12.1 million in 2020. The company plans to file a New Drug Application for rezafungin in mid-2022, following positive Phase 3 trial results. Cidara also announced FDA acceptance of an IND for its lead influenza drug, CD388. Cash reserves stood at $62.3 million as of December 31, 2021, while net loss improved to $42.5 million for the year, down from $72.1 million in 2020.