Cidara Theraptcs Stock Price, News & Analysis

REZZAYO, a novel echinocandin from Cidara Therapeutics, has received FDA approval for treating candidemia and invasive candidiasis in adults lacking alternative treatment options. This marks the first new echinocandin approval in over a decade. The approval is based on successful data from the ReSTORE Phase 3 trial, demonstrating non-inferiority to caspofungin. REZZAYO, administered once weekly, aims to simplify treatment for patients facing serious fungal infections. The drug is expected to be commercially available by summer 2023, with Melinta Therapeutics overseeing its launch in the U.S., leveraging their expertise in acute care settings.

Cidara Therapeutics (NASDAQ: CDTX) recently presented preclinical data on its CD73-targeting drug-Fc conjugate, CBO-212, at the ESMO Targeted Anticancer Therapies Congress in Paris (March 6-8, 2023). This marks a significant advancement in their oncology efforts, showcasing the anti-tumor potential of CBO-212. The data highlighted its ability to inhibit both soluble and cell-anchored CD73, restore immune cell activation, and induce receptor internalization, leading to tumor reduction in mouse models. Cidara is also advancing a refined version, CD421, with lower immunogenic properties. The company is committed to developing long-acting therapeutics to enhance patient care.

Cidara Therapeutics, Inc. (Nasdaq: CDTX) has successfully completed its separate underwritten public offerings, securing gross proceeds of approximately $19.5 million. This includes the sale of 11,086,000 shares of common stock and 286,000 shares of Series X Convertible Preferred Stock, with the underwriter fully exercising its option for an additional 1,446,000 shares. The offerings were executed under an effective shelf registration statement with the SEC. Funds raised are intended to advance Cidara's long-acting therapeutics portfolio, focused on improving care for serious diseases, including its lead antifungal candidate, rezafungin.

Cidara Therapeutics (Nasdaq: CDTX) announced the pricing of two separate public offerings totaling approximately $17.5 million. The company plans to offer 9,640,000 shares of common stock and 286,000 shares of Series X Convertible Preferred Stock, convertible into 2,860,000 shares of common stock. The offerings are expected to close around March 7, 2023. An additional 1,446,000 shares may be purchased by the underwriter within 30 days. Cantor Fitzgerald & Co. serves as the sole book-running manager. The offerings aim to enhance Cidara's financial position to support its therapeutic developments.

Cidara Therapeutics (Nasdaq: CDTX) has announced concurrent underwritten public offerings of its common stock and Series X Convertible Preferred Stock. The offerings are independent and subject to customary closing conditions, with Cantor Fitzgerald & Co. as the sole book-running manager. The company has granted a 30-day option to the underwriter to purchase an additional 15% of the common shares. The offerings are made under a shelf registration statement effective with the SEC. Cidara is focused on long-acting therapeutics, particularly its lead Phase 3 antifungal candidate, rezafungin, and other innovations targeting serious diseases.

Cidara Therapeutics (NASDAQ: CDTX) reported favorable interim data from its Phase 2a trial of CD388, a potential long-acting antiviral for influenza. As of February 13, 2023, results show that a single 150 mg dose of CD388 significantly reduced influenza viral replication and infection rates compared to placebo, with 21.4% of CD388 recipients infected versus 50% in the placebo group. The drug was well tolerated, with no adverse events linked to it. The study is being conducted in collaboration with Janssen Pharmaceuticals, aiming for universal prevention of seasonal and pandemic influenza strains.

Cidara Therapeutics (NASDAQ: CDTX) announced it will present pharmacokinetic study highlights of its CD73-targeting drug-Fc conjugate (DFC) oncology candidate at the ESMO TAT Congress in Paris from March 6-8, 2023. The studies showcase the drug's ability to inhibit CD73, a component of the adenosine pathway involved in immune evasion in solid tumors. The lead candidate, CBO-212, addresses the limitations of traditional small molecule and monoclonal antibody therapies. The abstract presentation is scheduled for March 6, 2023, at 5:35 p.m. CET in Hall Bordeaux, Palais des Congrès de Paris.

Cidara Therapeutics (Nasdaq: CDTX) announced it has regained compliance with Nasdaq's minimum bid price requirement, after previously being informed of non-compliance on February 28, 2022. After receiving a 180-day extension and a hearing on October 6, 2022, Cidara implemented a plan to regain compliance. The requirement was met as the stock maintained a closing bid price above $1.00 for 10 consecutive trading days from January 25 to February 7, 2023. The Nasdaq Panel confirmed compliance on February 9, 2023, and the matter is now closed, with a monitoring period until November 9, 2023.

Cidara Therapeutics (NASDAQ: CDTX) has expanded its partnership with WuXi XDC to include the development of its CD73 oncology drug-Fc conjugate (DFC), building on their existing collaboration for the CD388 influenza program. This agreement focuses on IND-enabling chemistry, manufacturing, and controls for the oncology program. The CD73 DFC targets the adenosine pathway to address immune evasion in solid cancers. Cidara aims to improve the effectiveness and safety of therapies while leveraging WuXi XDC’s bioconjugate manufacturing expertise. Financial terms of the agreement were not disclosed.