Cidara Therapeutics, Inc. - CDTX STOCK NEWS

Cidara Therapeutics (Nasdaq: CDTX) has announced the FDA approval of REZZAYO™ (rezafungin for injection), a novel once-weekly echinocandin for treating candidemia and invasive candidiasis. The company received a $20 million milestone payment from Melinta Therapeutics, which acquired U.S. commercialization rights for REZZAYO. This marks the first new echinocandin approved in over a decade, addressing urgent treatment needs. Cidara is also eligible for an additional $47 million in milestones from existing partnerships based on successful completion of planned activities. With a year-end cash balance of $32.7 million and additional funding, Cidara aims to extend its cash runway. The company continues advancing its drug-Fc conjugate programs in oncology and autoimmune indications, with positive data from a Phase 2a trial.

Cidara Therapeutics (NASDAQ: CDTX) announced that Jeffrey Stein, Ph.D., the President and CEO, will participate in two upcoming investor conferences. The first is the Cantor Fitzgerald Future of Oncology Virtual Symposium on April 3, 2023, at 11:00 am ET, where he will take part in a panel discussion. The second event is the 22nd Annual Needham Virtual Healthcare Conference on April 17, 2023, at 12:45 pm ET, featuring a presentation and one-on-one investor meetings. Cidara's presentation at the Needham Conference will be available on-demand, with a replay accessible for 90 days. The company focuses on long-acting therapeutics for serious diseases.

Cidara Therapeutics, Inc. (Nasdaq: CDTX) has announced significant developments in its financial results for the year ending December 31, 2022, and updated its product pipeline. The company achieved a revenue of $64.3 million, an increase from $49.6 million in 2021, aided by a $25.9 million milestone recognized in connection with Melinta Therapeutics. Cidara received FDA approval for rezafungin, marking the first new treatment for candidemia in over a decade, enabling a $20 million milestone payment. Additionally, Cidara raised $28.4 million through public offerings. The net loss narrowed to $29.8 million from $42.5 million in 2021, demonstrating improved financial health.

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.