Cidara Therapeutics, Inc. - CDTX STOCK NEWS

Cidara Therapeutics (Nasdaq: CDTX) reported Q1 2021 financial results with revenue at $2.4 million, a slight decrease from $2.5 million in Q1 2020. The net loss widened to $18.3 million from $14.5 million year-over-year. Cidara secured a worldwide licensing agreement with Janssen for its Cloudbreak influenza AVCs, bringing an upfront payment of $27 million and potential total funding of $753 million. R&D expenses increased to $15.8 million, influenced by ongoing rezafungin trials and antiviral platform costs. Cidara remains focused on advancing its product pipeline and anticipates key developments by year-end.

Cidara Therapeutics (Nasdaq: CDTX) is set to present at the 20th Annual Needham Virtual Healthcare Conference on April 14, 2021, at 1:30 PM ET. CEO Jeffrey Stein will provide a corporate overview highlighting the company’s commitment to developing long-acting therapeutics for severe fungal and viral infections. Cidara's lead candidate is rezafungin, part of its innovative Cloudbreak® antiviral platform. Investors can access the live audio webcast on the company’s website.

Cidara Therapeutics (CDTX) has entered a collaboration with Janssen Pharmaceuticals, securing exclusive worldwide rights to develop and commercialize its antiviral conjugate, CD388, aimed at combating influenza. The agreement includes an upfront payment of $27 million, with potential milestone payments and R&D funding amounting to $753 million. Cidara will advance CD388 through Phase 2 clinical trials, funded by Janssen, which has expertise in viral disease therapies. The collaboration aims to provide universal protection against seasonal and pandemic influenza strains.

Cidara Therapeutics (Nasdaq: CDTX) announced on April 1, 2021, that its Compensation Committee granted stock options and restricted stock units totaling 27,000 shares to four new employees. These equity awards are part of the 2020 Inducement Incentive Plan and have a grant date exercise price of $2.66 per share, equal to the stock's closing price on the grant date. Vesting will occur over four years, subject to continuous service. This initiative aligns with Nasdaq Listing Rule 5635(c)(4) to induce talent by offering meaningful equity compensation.

Cidara Therapeutics, Inc. (Nasdaq: CDTX) announced the upcoming presentation by CEO Jeffrey Stein, Ph.D., at the H.C. Wainwright Global Life Sciences Conference on March 9-10, 2021. The presentation will be accessible on-demand via the Investors section of the company’s website starting March 9, 2021. Cidara is focused on developing long-acting therapeutics to improve care for patients with serious fungal and viral infections, with its lead antifungal candidate being rezafungin and additional antiviral conjugates from the Cloudbreak® platform.

Cidara Therapeutics (CDTX) reported its financial results for Q4 and FY 2020, revealing revenues of $3.7 million and $12.1 million, down from $1.8 million and $20.9 million in 2019. The company faced a net loss of $21.6 million in Q4 and $72.1 million for the year, increasing from $14.0 million and $41.1 million in 2019. Cash reserves decreased to $42.9 million. Cidara emphasized its clinical progress with rezafungin and plans to report data from the ReSTORE trial by end of 2021. The company also announced new Board appointments to strengthen its management team.

Cidara Therapeutics (Nasdaq: CDTX) announced new analyses from the completed Phase 2 STRIVE trial for rezafungin, a once-weekly echinocandin, demonstrating safety and efficacy in treating candidemia and invasive candidiasis among high-risk immunocompromised patients. The overall response rate was 75% in patients treated with rezafungin compared to 66.7% for the standard of care. Additionally, rezafungin's efficacy remained unaffected by renal impairment. Cidara is advancing rezafungin through Phase 3 trials for candidemia and invasive fungal disease prevention.

Cidara Therapeutics (Nasdaq: CDTX) announced its participation in the 21st International Immunocompromised Host Society Symposium, occurring virtually from Feb. 17-19, 2021. The company will present significant findings on rezafungin, its novel once-weekly echinocandin currently in Phase 3 trials for treating serious fungal infections. Key presentations include an oral overview by Dr. Taylor Sandison and three poster presentations focused on rezafungin's efficacy. Additionally, Cidara will showcase preclinical data on its antiviral conjugate candidate, CD377, targeting influenza.

Cidara Therapeutics (Nasdaq: CDTX) announced the addition of Bonnie Bassler, Ph.D., and Carin Canale-Theakston to its board of directors. Dr. Bassler brings extensive molecular biology expertise and experience from various biotech boards, while Canale-Theakston boasts over 25 years in life sciences communications. Their appointments aim to bolster the company's focus on advancing its antifungal candidate, rezafungin, which is currently in Phase 3 trials, and its antiviral conjugate programs targeting influenza.