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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), a biotechnology company focused on drug-Fc conjugate therapeutics through its Cloudbreak® platform, has announced its inclusion in both the Russell 2000® and Russell 3000® Indexes. The Russell 3000 Index represents the 3,000 largest U.S. companies by market cap, covering approximately 98% of the investable U.S. equity market, while the Russell 2000 Index focuses on the small-cap segment.
CEO Jeffrey Stein highlighted this milestone alongside other recent company achievements, including positive Phase 2b NAVIGATE trial results and a successful $400 million financing round. The index inclusion is expected to increase Cidara's visibility among institutional investors.
Cidara Therapeutics (Nasdaq: CDTX), a biotechnology company, has successfully completed an upsized public offering of 9,147,727 shares of common stock at $44.00 per share. The offering includes the full exercise of underwriters' option to purchase an additional 1,193,181 shares. The company raised gross proceeds of $402.5 million before deducting underwriting discounts and commissions.
The offering was managed by prominent financial institutions including J.P. Morgan, Morgan Stanley, Guggenheim Securities, and Cantor as joint book-running managers. The shares were offered through a shelf registration statement on Form S-3 that was declared effective by the SEC on May 15, 2025.
Cidara Therapeutics (Nasdaq: CDTX), a biotechnology company specializing in drug-Fc conjugate therapeutics through its Cloudbreak® platform, has announced the pricing of an upsized public offering. The company will offer 7,954,546 shares at $44.00 per share, expecting to raise $350.0 million in gross proceeds before deductions.
The offering includes a 30-day option for underwriters to purchase up to 1,193,181 additional shares at the public offering price. The offering, expected to close on June 26, 2025, is being managed by J.P. Morgan, Morgan Stanley, Guggenheim Securities, and Cantor as joint book-running managers.
Cidara Therapeutics (Nasdaq: CDTX), a biotechnology company specializing in drug-Fc conjugate therapeutics through its Cloudbreak® platform, has announced plans for a $250.0 million underwritten public offering of common stock. The company intends to grant underwriters a 30-day option to purchase up to an additional 15% of shares.
The offering will be managed by joint book-runners J.P. Morgan, Morgan Stanley, Guggenheim Securities, and Cantor. The offering is being made through a shelf registration statement on Form S-3 that was declared effective by the SEC on May 15, 2025.
Cidara Therapeutics (NASDAQ: CDTX) announced it will host a virtual R&D day on May 22, 2025, from 10:00 to 11:30 AM ET to discuss CD388, their innovative long-acting antiviral drug designed for universal, once-per-flu season prevention of seasonal and pandemic influenza.
The event will feature key opinion leaders Dr. Fred Hayden from the University of Virginia School of Medicine and Dr. Rick Bright from the Pandemic Prevention Institute. Topics will include the 2024-2025 flu season review, updates on the ongoing Phase 2b NAVIGATE trial's statistical analysis plan, planned Phase 3 study design, commercial opportunities, and competitive landscape for CD388.
Cidara Therapeutics (NASDAQ: CDTX), a biotechnology company specializing in drug-Fc conjugate therapeutics through its Cloudbreak® platform, has announced its participation in two upcoming investor conferences. The company will present at the RBC Global Healthcare Conference on May 21, 2025, at 10:00 AM ET, and the Jefferies Global Healthcare Conference on June 4, 2025, at 11:40 AM ET.
Both presentations will be available via live webcast through Cidara's investor relations website, with replays accessible for at least 30 days. The company will also engage in one-on-one meetings with investors during these events.
Cidara Therapeutics (CDTX) provided its Q1 2025 financial results and corporate updates. The company reached a key milestone with the data cutoff for its Phase 2b NAVIGATE trial on April 30, 2025, involving 5,041 subjects testing CD388 for influenza prevention. Top-line results are expected in late June 2025.
Key financial highlights include: cash position of $174.5M as of March 31, 2025, down from $196.2M in December 2024. Q1 2025 saw increased R&D expenses of $24.6M (vs $5.9M in Q1 2024) and a net loss of $23.5M (vs $10.3M in Q1 2024).
The company published preclinical data in Nature Microbiology highlighting CD388's potential as a universal antiviral for influenza prevention. Additionally, Cidara promoted Nicole Davarpanah to Chief Medical Officer and Corrina Pavetto to Senior Vice President of Clinical Development.
Cidara Therapeutics (Nasdaq: CDTX), a biotech company specializing in drug-Fc conjugate therapeutics through their proprietary Cloudbreak® platform, has announced their upcoming participation in The Citizens Life Sciences Conference.
The event details include:
- Conference: The Citizens Life Sciences Conference
- Date: Wednesday, May 7, 2025
- Time: 11:00 AM ET
- Format: Presentation
The presentation will be accessible via webcast, and a replay will be available in the Investors section of Cidara's website for at least 30 days. The company will also engage in one-on-one investor meetings during the event.