[8-K] Cidara Therapeutics, Inc. Reports Material Event

Rhea-AI Filing Summary

Cidara Therapeutics (NASDAQ: CDTX) announced the suspension and termination of its ATM (At-The-Market) Prospectus dated May 15, 2025, which was established under the Open Market Sale Agreement with Jefferies LLC on May 8, 2025.

Key details of the announcement:

• The company will cease all common stock sales under the current Sales Agreement until a new prospectus or prospectus supplement is filed with the SEC
• The underlying Sales Agreement with Jefferies remains in full force and effect
• The original Sales Agreement was disclosed in the company's Quarterly Report filed on May 8, 2025

This strategic move suggests potential changes in Cidara's capital raising strategy or market conditions. The termination of the ATM Prospectus could indicate the company is considering alternative financing options or adjusting its capital structure.

Positive

• Maintains flexibility in capital raising strategy by keeping the base Sales Agreement with Jefferies in effect while only terminating the specific ATM prospectus

Negative

• Suspension of the ATM (At-The-Market) offering facility limits immediate access to equity capital
• The termination of the May 15, 2025 ATM prospectus may signal a change in the company's capital raising strategy or potential concerns about diluting shareholders at current market prices

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 24, 2025

Cidara Therapeutics, Inc.

(Exact name of Registrant as Specified in Its Charter)

Delaware		001-36912		46-1537286
(State or Other Jurisdiction of Incorporation or Organization)		(Commission File Number)		(I.R.S. Employer Identification Number)

6310 Nancy Ridge Drive, Suite 101

San Diego, California 92121

(858) 752-6170

(Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant’s Principal Executive Offices)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, Par Value $0.0001 Per Share		CDTX		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events.

On June 24, 2025, Cidara Therapeutics, Inc. (the “Company”) delivered written notice to Jefferies LLC (“Jefferies”) that it was suspending and terminating the prospectus, dated May 15, 2025, related to the Company’s common stock, $0.0001 par value per share (the “ATM Prospectus”), issuable pursuant to the terms of the Open Market Sale Agreement^SM, dated May 8, 2025 (the “Sales Agreement”), by and between the Company and Jefferies. The Company will not make any sales of its common stock pursuant to the Sales Agreement, unless and until a new prospectus or prospectus supplement is filed with the Securities and Exchange Commission. Other than the termination of the ATM Prospectus, the Sales Agreement remains in full force and effect. A copy of the Sales Agreement was filed as Exhibit 10.5 to the Company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 8, 2025.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		Cidara Therapeutics, Inc.
Date: June 24, 2025						/s/ Jeffrey Stein, Ph.D.
						Jeffrey Stein, Ph.D.
						President and Chief Executive Officer (Principal Executive Officer)

FAQ

Why did CDTX terminate its ATM Prospectus on June 24, 2025?

On June 24, 2025, Cidara Therapeutics (CDTX) suspended and terminated its ATM Prospectus dated May 15, 2025, which was related to the sale of common stock through Jefferies LLC. The company will not make any sales of common stock under the Sales Agreement until a new prospectus or prospectus supplement is filed with the SEC.

Is CDTX's Sales Agreement with Jefferies still valid after the ATM Prospectus termination?

Yes, the Sales Agreement with Jefferies dated May 8, 2025, remains in full force and effect. Only the ATM Prospectus has been terminated, while the underlying Sales Agreement continues to be valid.

When was CDTX's original Sales Agreement with Jefferies established?

The Open Market Sale Agreement^SM between Cidara Therapeutics and Jefferies LLC was established on May 8, 2025, and was filed as Exhibit 10.5 to the Company's Quarterly Report on the same date.

What type of stock was affected by CDTX's ATM Prospectus termination?

The terminated ATM Prospectus affected Cidara Therapeutics' common stock, which has a par value of $0.0001 per share and trades under the symbol CDTX on The Nasdaq Stock Market LLC.