Cidara Theraptcs SEC Filings

Caymus Purchaser, Inc., a wholly owned subsidiary of Merck Sharp & Dohme LLC, announced plans to commence a tender offer to acquire all outstanding shares of Cidara Therapeutics, Inc. (CDTX), including its common stock and Series A Voting Convertible Preferred Stock, pursuant to an Agreement and Plan of Merger dated November 13, 2025.

The tender offer has not yet commenced. When launched, Merck and Caymus Purchaser will file a Schedule TO with an offer to purchase and related documents, and Cidara will file a Schedule 14D‑9 stating its position. Investors will be able to access these materials on SEC.gov. The filing includes forward‑looking statements and notes potential conditions and risks, including the need for a sufficient number of tendered shares and other customary closing conditions.

Cidara Therapeutics (CDTX) reported Q3 2025 results showing a larger operating loss as it advanced its lead antiviral, CD388. The company recorded no revenue and a net loss of $83.2 million, driven by $45.0 million of acquired in‑process R&D and higher R&D spending.

Liquidity strengthened following capital raises. As of September 30, cash and cash equivalents were $293.7 million, with $126.4 million in short‑term and $50.2 million in long‑term available‑for‑sale investments; restricted cash was $6.3 million. In June, the company completed an underwritten offering of 9,147,727 shares at $44.00 per share for net proceeds of $376.9 million, and earlier sold shares via ATM for $4.1 million.

Clinical progress continued. In June, the Phase 2b NAVIGATE study of CD388 met its primary and secondary endpoints across all doses. In September, Cidara initiated the Phase 3 ANCHOR trial evaluating a single 450mg subcutaneous dose for pre‑exposure prophylaxis of seasonal influenza. The company also entered a cost‑reimbursement BARDA contract on September 30. Shares outstanding were 29,335,397 at quarter‑end and 31,439,371 as of November 3, 2025.

Cidara Therapeutics entered a BARDA agreement that can total $339.2M, with an initial investment of approximately $58.1M to begin in September 2025 and run through September 2027. The initial funds will support the onshoring of CD388 manufacturing to U.S. contractors, a clinical trial to show comparability of a higher‑concentration formulation and different presentations, additional non‑clinical characterization against pandemic influenza strains, and development of protocols for expanded populations. BARDA may exercise up to nine options covering further clinical and non‑clinical work totaling up to $281.1M; Cidara may owe up to $192.2M in cost share for up to three of those options. The agreement starts on September 30, 2025, initially runs to September 29, 2027, and may extend but not beyond July 3, 2030. Either party may terminate with 60 days' notice; BARDA may terminate for cause. Some termination costs may be reimbursable by BARDA. The instrument is funded under federal contract 75A50125C00017 and supports Cidara's potential BLA path for CD388. Forward‑looking statements are included and subject to stated risks and uncertainties.

Cidara Therapeutics (CDTX) disclosed details about a clinical evaluation of CD388, specifying a 450-milligram dose versus placebo and a clearly defined primary endpoint based on laboratory-confirmed influenza, measured fever (≥ 37.2°C/99°F) and combinations of respiratory and systemic symptoms. The filing reiterates standard forward-looking statement language and points investors to the company's Quarterly Report for the period ended June 30, 2025 for additional risk factors.

The report emphasizes that outcomes and cash usage may differ from expectations and that the company does not intend to update forward-looking statements except as required by law. The filing is dated September 24, 2025 and is signed by Jeffrey Stein, Ph.D.

Cidara Therapeutics insider sale to cover RSU taxes Nicole Davarpanah, the company's Chief Medical Officer, sold 474 shares of Cidara Therapeutics common stock on 09/11/2025 to satisfy tax withholding obligations tied to vested restricted stock units. The weighted-average sale price reported is $62.8627, with transaction prices ranging from $62.86 to $63.50. After the reported sale, the reporting person beneficially owns 31,418 shares; this total includes 200 shares purchased through the company Employee Stock Purchase Plan on May 20, 2025. The Form 4 was executed by an attorney-in-fact on 09/15/2025.

Venrock group reports a 3.2% passive stake in Cidara Therapeutics (CDTX) held collectively as of June 30, 2025. The filing lists 639,088 shares beneficially owned across Venrock entities: 134,554 shares held by Venrock Healthcare Capital Partners III, L.P.; 13,456 by VHCP Co-Investment Holdings III, LLC; and 491,078 by Venrock Healthcare Capital Partners EG, L.P. All reporting entities are Delaware-organized and report shared voting and dispositive power over the 639,088 shares and no sole voting or dispositive power. The percentage is calculated using 20,163,696 shares outstanding per the issuer prospectus supplement dated June 24, 2025. Signatures and powers of attorney are included by reference.

Cidara Therapeutics, Inc. (CDTX) received a Schedule 13G/A reporting that Point72-affiliated entities and Steven A. Cohen beneficially own 1,527,930 shares of common stock, representing 7.6% of the outstanding class as of June 30, 2025. The filing states those shares are held for investment by Point72 Associates and that Point72 Asset Management and Point72 Capital Advisors maintain shared voting and dispositive power over the shares; none of the reporting persons claim sole voting or dispositive power. The reporting address is 72 Cummings Point Road, Stamford, CT.

Canaan XII L.P. and Canaan Partners XII LLC filed Amendment No. 1 to Schedule 13G reporting that, as of June 30, 2025, neither reporting person beneficially owns any shares of Cidara Therapeutics, Inc. common stock (CUSIP 171757206). The filing lists each filer’s jurisdiction of organization and principal business address and states the holders have 0 sole or shared voting and dispositive power, representing 0.0% of the class.