Cidara Therapeutics, Inc. - CDTX STOCK NEWS

Cidara Therapeutics, Inc. (NASDAQ: CDTX) reported Q3 2021 results, showing revenues of $7.1 million for the quarter, up from $2.4 million in Q3 2020, primarily due to a collaboration with Janssen Pharmaceuticals. Net losses for Q3 2021 were $18.1 million, compared to $17.6 million in Q3 2020. The company raised $38.5 million in equity from public offerings to extend its cash runway. Cidara plans to report top-line data from its ReSTORE Phase 3 trial by year-end 2021 and anticipates filing an NDA for its drug rezafungin in mid-2022.

Cidara Therapeutics, Inc. (Nasdaq: CDTX) has successfully completed its public offerings, raising approximately $38.5 million. This includes 17,064,511 shares of common stock priced at $1.55 per share and 774,194 shares of Series X Convertible Preferred Stock at $15.50 per share. The offerings were managed by Cantor Fitzgerald & Co. and others under an effective SEC shelf registration. The funds will support the development of long-acting therapeutics targeting serious diseases, enhancing patient care through innovative treatments.

Cidara Therapeutics announced the pricing of concurrent public offerings totaling approximately $35.0 million. The offerings consist of 14,838,706 shares of common stock priced at $1.55 per share and 774,194 shares of Series X Convertible Preferred Stock priced at $15.50 per share. Underwriters have a 30-day option to purchase an additional 2,225,805 shares of common stock. The offerings are expected to close around October 13, 2021, subject to customary conditions. Cantor Fitzgerald & Co. is the sole book-running manager.

Cidara Therapeutics (Nasdaq: CDTX) has launched concurrent underwritten public offerings for its common stock and Series X Convertible Preferred Stock. The common stock offering includes a 30-day option for underwriters to purchase additional shares at the offering price. The completion of these offerings is not contingent upon one another and is subject to market conditions. Cantor Fitzgerald & Co. serves as the sole book-running manager for these offerings. The securities are offered under a shelf registration statement with no assurance on the terms or timing of completion.

Cidara Therapeutics, Inc. (Nasdaq: CDTX) announced on October 1, 2021, that its Compensation Committee granted stock options and restricted stock units totaling 169,000 shares to ten new employees. The options have an exercise price of $2.24 per share, equal to the stock's closing price on the grant date. Vesting occurs over four years, with 25% vesting after one year. This initiative is part of the company's 2020 Inducement Incentive Plan and is compliant with Nasdaq Listing Rule 5635(c)(4). Cidara focuses on long-acting therapeutics for serious diseases, including its lead candidate, rezafungin acetate.

Cidara Therapeutics (NASDAQ: CDTX) will present new clinical data at the 10th Congress on Trends in Medical Mycology (TIMM) from October 8-11, 2021, in Aberdeen, Scotland. The focus is on rezafungin, a once-weekly echinocandin in Phase 3 trials for serious fungal infections. Top-line data from the Phase 3 ReSTORE trial is expected by the end of 2021, with a New Drug Application (NDA) anticipated in mid-2022. Key presentations include safety and pharmacokinetics in hepatic impairment and post-antifungal effects against various Candida species.

Cidara Therapeutics (NASDAQ: CDTX) announced its participation in IDWeek from September 29 to October 3, 2021, where it will present new data on rezafungin, a novel once-weekly echinocandin in Phase 3 trials for serious fungal infections. The presentations will cover clinical safety in patients with hepatic impairment and the efficacy of rezafungin against invasive fungal isolates. Top-line data from the Phase 3 ReSTORE trial is expected by year-end 2021, with a New Drug Application (NDA) filing anticipated in mid-2022.

SAN DIEGO, Sept. 07, 2021 (GLOBE NEWSWIRE) -- Cidara Therapeutics, a biotechnology company focused on long-acting therapeutics, announced that CEO Jeffrey Stein will participate in two upcoming investor conferences. The H.C. Wainwright 23rd Annual Global Investment Conference will feature a presentation available from 7:00 AM ET on September 13, 2021. The Cantor Global Healthcare Conference is scheduled for September 28, 2021, at 10:40 AM ET. Both presentations can be accessed on the company's website. Cidara is developing treatments for fungal and viral infections.

Cidara Therapeutics (NASDAQ: CDTX) is hosting a webinar on September 21, 2021, from 10am to 12pm ET, focusing on the Cloudbreak® platform and the commercial prospects for rezafungin.

Clinical experts will address the increasing risks of invasive fungal infections in cancer patients and discuss unmet needs in respiratory viral diseases.

The event will feature updates on rezafungin's late-stage development, and its potential role in treating candidemia and preventing infections in immunocompromised patients.