Cidara Therapeutics Restructures Workforce to Focus on Planned Clinical Development of CD388
Cidara Therapeutics (Nasdaq: CDTX) has announced a strategic restructuring, reducing its workforce by approximately 30%. This decision aims to focus resources on the clinical development of CD388, their novel drug-Fc conjugate (DFC) candidate for influenza A and B prevention. The company plans to proceed with Phase 2b trials and potential subsequent studies for CD388 as a single-dose, universal preventative.
Cidara continues business development discussions for its oncology DFC programs, including CBO421, a CD73 inhibitor that recently received IND-clearance for a Phase 1 study. The restructuring is expected to substantially reduce capital needs and streamline operations, positioning Cidara for long-term success in its mission to develop innovative immunotherapies for serious diseases.
Cidara Therapeutics (Nasdaq: CDTX) ha annunciato una ristrutturazione strategica, riducendo la sua forza lavoro di circa 30%. Questa decisione ha l'obiettivo di concentrare le risorse sullo sviluppo clinico di CD388, il loro nuovo candidato di farmaco-coniugato Fc (DFC) per la prevenzione dell'influenza A e B. L'azienda prevede di proseguire con gli studi di fase 2b e potenziali studi successivi per CD388 come profilassi universale in dose singola.
Cidara continua le discussioni per lo sviluppo commerciale dei suoi programmi DFC in oncologia, incluso CBO421, un inibitore di CD73 che ha recentemente ricevuto l'approvazione IND per uno studio di Fase 1. La ristrutturazione è prevista per ridurre sostanzialmente i fabbisogni di capitale e snellire le operazioni, posizionando Cidara per un successo a lungo termine nella sua missione di sviluppare immunoterapie innovative per malattie gravi.
Cidara Therapeutics (Nasdaq: CDTX) ha anunciado una reestructuración estratégica, reduciendo su fuerza laboral en aproximadamente 30%. Esta decisión tiene como objetivo enfocar los recursos en el desarrollo clínico de CD388, su nuevo candidato a conjugado de fármaco-Fc (DFC) para la prevención de la influenza A y B. La empresa planea continuar con los ensayos de fase 2b y posibles estudios posteriores para CD388 como una profilaxis universal de dosis única.
Cidara continúa las discusiones de desarrollo comercial para sus programas DFC en oncología, incluyendo CBO421, un inhibidor de CD73 que recientemente recibió la aprobación IND para un estudio de Fase 1. Se espera que la reestructuración reduzca sustancialmente las necesidades de capital y optimice las operaciones, posicionando a Cidara para un éxito a largo plazo en su misión de desarrollar inmunoterapias innovadoras para enfermedades graves.
시다라 테라퓨틱스(Cidara Therapeutics, Nasdaq: CDTX)가 전략적 구조조정을 발표하며 인력을 약 30% 줄이기로 했습니다. 이 결정은 A형 및 B형 독감 예방을 위한 새로운 약물-Fc 접합체(DFC) 후보인 CD388의 임상 개발에 자원을 집중하기 위해 이루어졌습니다. 회사는 2b상 시험과 CD388의 단일 용량, 범용 예방을 위한 후속 연구를 진행할 계획입니다.
시다라는 CD73 억제제인 CBO421를 포함한 종양학 DFC 프로그램에 대한 사업 개발 논의를 계속 진행하고 있으며, 이는 최근에 1상 시험을 위한 IND 승인을 받았습니다. 구조조정은 자본 필요성을 실질적으로 줄이고 운영을 간소화할 것으로 예상되며, 중대한 질병에 대한 혁신적인 면역 치료제를 개발하는 임무에서 시다라를 장기적인 성공으로 이끌어 줄 것입니다.
Cidara Therapeutics (Nasdaq: CDTX) a annoncé une restructuration stratégique, réduisant son effectif d'environ 30%. Cette décision vise à concentrer les ressources sur le développement clinique de CD388, leur candidat novateur de conjugé médicament-Fc (DFC) pour la prévention de la grippe A et B. L'entreprise prévoit de poursuivre les essais de phase 2b et de potentielles études ultérieures pour CD388 en tant que prophylaxie universelle à dose unique.
Cidara poursuit les discussions de développement commercial pour ses programmes DFC en oncologie, y compris CBO421, un inhibiteur de CD73 qui a récemment obtenu l'approbation IND pour une étude de phase 1. La restructuration devrait permettre de réduire considérablement les besoins en capital et de rationaliser les opérations, positionnant Cidara pour un succès à long terme dans sa mission de développer des immunothérapies innovantes pour des maladies graves.
Cidara Therapeutics (Nasdaq: CDTX) hat eine strategische Umstrukturierung angekündigt, bei der die Belegschaft um etwa 30% reduziert wird. Diese Entscheidung zielt darauf ab, die Ressourcen auf die klinische Entwicklung von CD388, ihrem neuartigen Arzneimittel-Fc-Konjugat (DFC) zur Prävention von Influenza A und B, zu konzentrieren. Das Unternehmen plant, Phase-2b-Studien und potenzielle nachfolgende Studien für CD388 als Einzeldosis zur universellen Prävention durchzuführen.
Cidara führt weiterhin Geschäftsentwicklungsdiskussionen für seine Onkologie-DFC-Programme, einschließlich CBO421, eines CD73-Inhibitors, der kürzlich eine IND-Zulassung für eine Phase-1-Studie erhalten hat. Die Umstrukturierung wird voraussichtlich die Kapitalbedürfnisse erheblich reduzieren und die Abläufe rationalisieren, wodurch Cidara für langfristigen Erfolg in seiner Mission positioniert wird, innovative Immuntherapien für schwere Krankheiten zu entwickeln.
- Focus on clinical development of CD388 for influenza A and B prevention
- IND-clearance received for CBO421, allowing Phase 1 study commencement
- Reduction in capital needs through workforce restructuring
- Continued business development discussions for oncology DFC programs
- 30% workforce reduction
- Potential delay or discontinuation of non-core projects
Insights
The workforce reduction at Cidara Therapeutics signals a strategic pivot towards CD388, their lead influenza DFC candidate. This move demonstrates a laser focus on clinical development, potentially accelerating the path to market for their universal flu preventative. The
However, this restructuring raises questions about the company's broader pipeline. The continued business development discussions for oncology programs, particularly the IND-cleared CBO421, suggest a potential shift in portfolio strategy. This could lead to future licensing deals or partnerships, providing additional non-dilutive funding sources. Overall, while painful, this restructuring may strengthen Cidara's position in the competitive influenza prevention market.
Cidara's workforce reduction is a double-edged sword for investors. On the positive side, it should lead to substantial cost savings, potentially extending the company's cash runway. This is important for a biotech firm advancing a key asset like CD388 through clinical trials. The focus on a single, high-potential candidate could streamline operations and potentially accelerate time-to-market.
However, the
SAN DIEGO, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Cidara Therapeutics, Inc. (Nasdaq: CDTX), a biotechnology company using its proprietary Cloudbreak® platform to develop drug-Fc conjugate (DFC) immunotherapies designed to save lives and improve the standard of care for patients facing serious diseases, today announced a reduction in its workforce to focus on the clinical development of CD388, the Company’s novel DFC candidate for influenza A and B. The planned reduction impacts approximately
These strategic initiatives are expected to substantially reduce capital needs and allow Cidara to focus on its planned Phase 2b and potential subsequent trials investigating CD388 as a single-dose, universal preventative for influenza A and B. The Company continues business development discussions for its oncology DFC programs, including CBO421, a CD73 inhibitor, which recently received IND-clearance to commence a Phase 1 study.
“This workforce reduction was a challenging yet essential decision to ensure that we are using our resources efficiently to position Cidara for long-term success,” said Jeffrey Stein, Ph.D., president and chief executive officer of Cidara. “I would like to express my gratitude to the team members being affected by this restructuring. Their contributions to the company, and the legacy of their dedication to Cidara’s mission will not be forgotten and will continue to shape our work and its impact on patients.”
About Cidara Therapeutics
Cidara Therapeutics is using its proprietary Cloudbreak® platform to develop novel drug-Fc conjugates (DFCs) comprising targeted small molecules or peptides coupled to a proprietary human antibody fragment (Fc). Cidara’s lead DFC candidate, CD388, is a long-acting antiviral designed to achieve universal prevention of seasonal and pandemic influenza with a single dose by directly inhibiting viral proliferation. In June 2023, CD388 was granted Fast Track Designation by the U.S. Food and Drug Administration (FDA), and the Company plans to advance CD388 into a Phase 2b trial in the 2024 Northern Hemisphere influenza season. Additional DFCs have been developed for oncology and in July 2024 Cidara received IND clearance for CBO421 which will be developed to target CD73 in solid tumors. Cidara is headquartered in San Diego, California. For more information, please visit www.cidara.com.
Forward-Looking Statements
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “anticipates,” “expect,” “may,” “believe,” “plan,” or “will”. Forward-looking statements in this release include, but are not limited to, statements related to plans and timing for initiating a Phase 2b clinical trial for CD388, continued business development discussions regarding CBO421 other development candidates and the implementation and impacts of a workforce reduction. Such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, such as unanticipated delays in or negative results from Cidara’s preclinical or clinical trials, unanticipated impacts of the workforce reduction, difficulties in obtaining potential partners or other obstacles to clinical development. These and other risks are identified under the caption “Risk Factors” in Cidara’s most recent Quarterly Report on Form 10-Q and other filings subsequently made with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management’s assumptions and estimates as of such date. Cidara does not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise.
INVESTOR CONTACT:
Brian Ritchie
LifeSci Advisors
(212) 915-2578
britchie@lifesciadvisors.com
MEDIA CONTACT:
Michael Fitzhugh
LifeSci Communications
mfitzhugh@lifescicomms.com
FAQ
What is the purpose of Cidara Therapeutics' workforce restructuring announced on September 12, 2024?
How many employees are affected by Cidara Therapeutics' workforce reduction?
What is the main focus of Cidara Therapeutics (CDTX) after the restructuring?
What recent progress has Cidara Therapeutics (CDTX) made with its oncology program CBO421?
