Cidara Theraptcs SEC Filings

RA Capital Management and its affiliates filed an amended Schedule 13D showing they no longer beneficially own any shares of Cidara Therapeutics, Inc. Each reporting person now reports 0.00 shares and 0.0% of Cidara’s common stock, with no sole or shared voting or dispositive power. The amendment explains that a tender offer for Cidara’s shares expired on January 6, 2026, after which the buyer accepted all validly tendered shares and then completed a merger on January 7, 2026.

Following the merger, Cidara became a wholly owned subsidiary of the acquiror, its common stock was deregistered under the Exchange Act, and it ceased trading on the Nasdaq Stock Market. RA Capital’s fund had tendered all of its common and Series A shares, and its pre-funded warrants were cashlessly exercised and converted into the right to receive the cash offer price, leaving the reporting persons with no remaining beneficial ownership.

Cidara Therapeutics director reports option cancellation tied to Merck buyout. On January 7, 2026, a Merck subsidiary completed a tender offer for all outstanding Cidara common and Series A preferred shares and then merged into Cidara, which continues as a wholly owned Merck subsidiary. In connection with the merger, each outstanding stock option became fully vested and, if unexercised, was cancelled at the merger’s effective time and converted into a cash right equal to the number of underlying shares multiplied by the excess of $221.50 per share over the option’s exercise price.

The Form 4 reports that director Joshua Resnick had stock options covering 22,200 and 5,079 Cidara common shares, both reported as derivative dispositions leaving zero options outstanding. The filing notes these options are held for the benefit of RA Capital Healthcare Fund, and Resnick is required to turn over any net cash or stock to RA Capital Management, so he disclaims beneficial ownership of the options and underlying shares.

Cidara Therapeutics director Spencer Ryan reported the cash-out of his stock options in connection with Merck’s acquisition of the company. Under a Merger Agreement dated November 13, 2025 among Cidara, Merck Sharp & Dohme LLC and Caymus Purchaser, Inc., a tender offer for all outstanding common and Series A preferred shares was completed on January 7, 2026 and followed by a merger, making Cidara a wholly owned subsidiary of Merck.

Immediately before the effective time of the merger, each of Ryan’s outstanding stock options became fully vested and exercisable and, to the extent unexercised, was cancelled and converted into a right to receive cash. The cash amount equals the number of common shares subject to each option multiplied by the excess of $221.50 per share over the option’s exercise price. The Form 4 lists option grants with exercise prices of $12.63, $12.64 and $21.31 per share, all reduced to zero balance after the transaction.

Cidara Therapeutics director James Merson reported the cash cancellation of stock options tied to Merck’s acquisition of Cidara. On January 7, 2026, a Merck subsidiary completed a tender offer for all outstanding Cidara common shares and Series A preferred shares and then merged into Cidara, which became a wholly owned Merck subsidiary. In connection with the merger, each of Merson’s outstanding stock options, including grants over 4,250, 2,125 and 11,100 Cidara common shares, became fully vested and exercisable and was then cancelled.

Each cancelled option was converted into the right to receive cash, without interest and subject to tax withholding, equal to the number of underlying shares multiplied by the excess of $221.50 per share over the option’s exercise price.

Cidara Therapeutics director Carin Canale-Theakston reported the cash-out of stock options in connection with Cidara’s acquisition by Merck. On January 7, 2026, a Merck subsidiary completed a tender offer for all outstanding Cidara common and Series A preferred shares and then merged into Cidara, which became a wholly owned Merck subsidiary.

Immediately before the merger became effective, each of the director’s outstanding stock options became fully vested and exercisable, then was cancelled at the effective time and converted into the right to receive cash. The cash amount for each option equals the number of common shares subject to the option multiplied by the excess of $221.50 per share over the option’s exercise price. The reported option grants, which had exercise prices ranging from $10.6 to $50.2 and various expiration dates from 2031 to 2035, now show 0 derivative securities owned following these transactions. All exercise prices and share amounts were adjusted for Cidara’s 1-for-20 reverse stock split on April 24, 2024.

Cidara Therapeutics director Bonnie L. Bassler reported the cash-out of her remaining equity as Cidara was acquired by Merck. On January 7, 2026, a Merck subsidiary completed a tender offer and merger in which each Cidara common share was converted into the right to receive $221.50 in cash and each Series A preferred share into $15,505.00 in cash, both without interest and subject to withholding taxes. Bassler disposed of 15 common shares at $221.50 per share and all reported stock options were canceled at the merger’s effective time in exchange for cash based on the spread between $221.50 and each option’s exercise price. All amounts reflect a 1-for-20 reverse stock split completed on April 24, 2024.

Cidara Therapeutics director Chrysa Mineo reported the cash-out of her equity in connection with Merck’s acquisition of the company. On January 7, 2026, a Merck subsidiary completed a tender offer and merger that turned Cidara into a wholly owned Merck subsidiary. Each common share and Series A preferred share was converted into the right to receive cash.

Mineo disposed of 3,320 common shares at $221.50 per share, leaving her with no directly held common stock. Multiple stock options to buy Cidara common shares, with exercise prices adjusted for a prior 1‑for‑20 reverse split, were also fully vested and then canceled at the merger’s effective time. Each option was converted into a cash right equal to the number of shares underlying the option multiplied by the excess of $221.50 over the option’s exercise price.

Cidara Therapeutics director reports option cancellation in Merck buyout

Director Theodore R. Schroeder reported the disposition of multiple stock options for Cidara Therapeutics, Inc. on January 7, 2026. According to the disclosed merger agreement, Merck Sharp & Dohme LLC, through a subsidiary, completed a tender offer for all outstanding common and Series A preferred shares of Cidara and then merged the subsidiary into Cidara, which continues as a wholly owned subsidiary of Merck.

Immediately prior to and contingent upon the effective time of the merger, each outstanding option became fully vested and exercisable and, to the extent it remained unexercised, was cancelled and converted into a right to receive cash. The cash amount for each option equals the number of common shares subject to the option multiplied by the excess of $221.50 per share over the option’s exercise price, with all derivative positions reported in this filing reduced to zero after the transactions.

Cidara Therapeutics director Daniel D. Burgess reported the disposition of his remaining equity in the company on January 7, 2026, in connection with the completion of Merck’s acquisition of Cidara. A total of 150 shares of common stock, held indirectly through his spouse, were disposed of at $221.50 per share, leaving no common shares reported as beneficially owned.

The filing also shows that multiple stock options covering various amounts of Cidara common shares were fully vested and then canceled at the merger effective time, with each option converted into a cash payment equal to its intrinsic value based on the $221.50 per share merger consideration. All option positions are reported at 0 following these transactions. The share and option figures reflect a 1‑for‑20 reverse stock split effected on April 24, 2024.