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Cidara Therapeutics developed Cloudbreak® drug-Fc conjugate therapeutics, including CD388, a long-acting, non-vaccine antiviral candidate for prevention of seasonal and pandemic influenza. Company news centered on CD388 clinical data, FDA designations, Phase 3 ANCHOR development, manufacturing and clinical support from BARDA, and periodic financial results.
Later updates covered the completed Merck tender offer, the transition of Cidara's common stock away from Nasdaq trading, and related public-company status changes.
Cidara Therapeutics (Nasdaq: CDTX) reported its financial results for Q2 2020, highlighting significant corporate developments. The company successfully dosed the first patient in its Phase 3 ReSPECT trial for rezafungin, aimed at preventing invasive fungal disease in patients undergoing blood and marrow transplantation. Financially, Cidara had $64.1 million in cash as of June 30, 2020, with increased R&D expenses of $17.6 million due to clinical trial costs. The net loss for Q2 2020 was $18.3 million, compared to $13.5 million in Q2 2019.
Cidara Therapeutics (Nasdaq: CDTX) announced that its CEO, Jeffrey Stein, Ph.D., will join the B. Riley FBR Virtual Summer Series panel on antiviral therapeutics on July 21, 2020, at 1:00 PM ET / 10:00 AM PT. The panel will focus on new approaches in the field of antiviral treatment. Cidara is dedicated to developing long-acting therapeutics to enhance care for patients with serious fungal and viral infections, notably through its lead antifungal candidate, rezafungin, and its Cloudbreak® antiviral platform.
Cidara Therapeutics (Nasdaq: CDTX) announced that CEO Jeffrey Stein will participate in the Cantor Fitzgerald Virtual Symposium on June 30, 2020. The event will focus on innovative approaches to treating infections, including COVID-19, and discuss the importance of stockpiling in the U.S. Cidara is working on groundbreaking therapies to improve care for severe fungal and viral infections, including its lead candidate, rezafungin, and antiviral platform Cloudbreak®. The announcement highlights the company's commitment to addressing critical health challenges.
Cidara Therapeutics (Nasdaq: CDTX) has announced that its CEO, Jeffrey Stein, Ph.D., will present virtually at the Raymond James Human Health Innovations Conference on June 18, 2020, at 3:40 PM ET. The company focuses on developing long-acting therapeutic solutions for serious fungal and viral infections. Notably, Cidara is advancing its lead Phase 3 antifungal candidate, rezafungin, along with antiviral conjugates from its Cloudbreak antiviral platform. Investors can access the live webcast on the company's website.
Cidara Therapeutics has commenced the ReSPECT pivotal Phase 3 clinical trial to evaluate the efficacy and safety of its antifungal candidate, rezafungin, for preventing invasive fungal disease in patients undergoing allogeneic blood and marrow transplantation (BMT). Rezafungin is designed for once-weekly administration, potentially simplifying complex treatment regimens. The trial aims to enroll approximately 462 adults and will compare rezafungin to standard daily antifungal therapies. Successful outcomes may position rezafungin as a new standard of care.
Cidara Therapeutics (Nasdaq: CDTX) reported financial results for Q1 2020, with a net loss of $14.5 million, an improvement from $16.6 million in Q1 2019. Cash and equivalents increased to $74.3 million. The company activated its first clinical site for the Phase 3 ReSPECT trial of rezafungin, focused on preventing invasive fungal disease in bone marrow transplant patients. However, guidance on the ongoing ReSTORE trial's top-line data is suspended amid COVID-19 uncertainties. Cidara is also exploring funding for COVID-19-related clinical trials.