Cidara Therapeutics Provides Leadership Update

Rhea-AI Summary

Cidara Therapeutics, Inc. (NASDAQ: CDTX) announced the resignation of CFO James Levine, effective July 9, 2021, to pursue new opportunities. Levine will continue to provide consulting support for at least six months. CEO Jeffrey Stein praised Levine for his leadership and contributions to partnerships with Mundipharma and Janssen Pharmaceuticals. In light of this change, Stein will also take on the role of principal financial officer, while Brady Johnson has been promoted to vice president of finance and principal accounting officer, enhancing the company's financial management.

Positive

• CEO Jeffrey Stein praised Levine's contributions to collaborations with Mundipharma and Janssen Pharmaceuticals.
• Levine helped strengthen the company's balance sheet, facilitating advancements in Phase 3 programs for rezafungin.
• The promotion of Brady Johnson indicates a strengthening of the finance team.

Negative

• None.

SAN DIEGO, July 01, 2021 (GLOBE NEWSWIRE) -- Cidara Therapeutics, Inc. (NASDAQ: CDTX), a biotechnology company developing long-acting therapeutics designed to transform the standard of care for patients facing serious fungal or viral infections, today announced that James (Jamie) Levine has resigned from his position as chief financial officer (CFO), effective July 9, 2021, to pursue other opportunities. Mr. Levine will continue to serve as a consultant to the Company for at least six months and will provide transitional support to a successor CFO.

“On behalf of the entire Cidara team and board of directors, I want to thank Jamie for his financial leadership, including his significant contributions to our collaborations with Mundipharma and Janssen Pharmaceuticals,” said Jeffrey Stein, Ph.D., president and chief executive officer of Cidara. “He has helped build an outstanding finance team and supported the strengthening of our balance sheet, which has enabled us to efficiently advance our rezafungin Phase 3 programs and expand our Cloudbreak immunotherapy antiviral platform. We wish Jamie the best in his future endeavors.”

Concurrent with Mr. Levine’s resignation, Dr. Stein will assume the role of Cidara’s principal financial officer, and Brady Johnson has been promoted to vice president, finance, and will assume the role of the Company’s principal accounting officer.

About Cidara Therapeutics
Cidara is developing long-acting therapeutics designed to transform the standard of care for patients facing serious fungal or viral infections. The Company’s portfolio is comprised of its lead antifungal candidate, rezafungin, in addition to AVCs for the prevention and treatment of influenza and other viral diseases from Cidara’s proprietary Cloudbreak^® antiviral platform. Cidara is headquartered in San Diego, California. For more information, please visit www.cidara.com.

INVESTOR CONTACT:
Brian Ritchie
LifeSci Advisors
(212) 915-2578
britchie@lifesciadvisors.com

MEDIA CONTACT:
Patrick Bursey
LifeSci Communications
(203) 430-9545
pbursey@lifescicomms.com

FAQ

Who has resigned as CFO of Cidara Therapeutics?

James Levine has resigned as CFO of Cidara Therapeutics, effective July 9, 2021.

What is the reason for James Levine's resignation from CDTX?

James Levine resigned to pursue other opportunities.

Who will assume the CFO role at Cidara Therapeutics after Levine's resignation?

CEO Jeffrey Stein will assume the role of principal financial officer after Levine's resignation.

What changes occurred in Cidara's finance team after the CFO resignation?

Brady Johnson has been promoted to vice president of finance and will serve as principal accounting officer.