CDTX Cidara Therapeutics Inc.

3.67
+0.01  (+0%)
Previous Close 3.66
Open 3.72
52 Week Low 1.2225
52 Week High 4.45
Market Cap $150,896,388
Shares 41,116,182
Float 35,512,198
Enterprise Value $97,701,226
Volume 174,772
Av. Daily Volume 311,724
Stock charts supplied by TradingView

Drug Pipeline

Drug Stage Notes
Rezafungin (CD101) ReSPECT
Prophylaxis
Phase 3
Phase 3
Phase 3 dosing of first patient announced May 20, 2020.
Rezafungin (CD101) ReSTORE
Candidemia
Phase 3
Phase 3
Phase 3 timeline for data release uncertain due to COVID-19 - noted May 13, 2020.
Rezafungin (CD101) STRIVE B
Candidemia
Phase 2
Phase 2
Phase 2 data released July 29, 2019 - noted all objectives met.
CD101 Topical - RADIANT
Vulvovaginal candidiasis (VVC)
Phase 2
Phase 2
Phase 2 data released February 21, 2017 - efficacy not evident, Development to be discontinued.

Latest News

  1. SAN DIEGO, June 29, 2020 (GLOBE NEWSWIRE) -- Cidara Therapeutics, Inc. (NASDAQ:CDTX), a biotechnology company developing long-acting therapeutics to transform the standard of care for patients facing serious fungal or viral infections, today announced that it has been added to the Russell 3000® Index at the conclusion of the Russell indexes annual reconstitution, effective upon the U.S. market open today, June 29, 2020.

    Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell's U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

    "We are pleased…

    SAN DIEGO, June 29, 2020 (GLOBE NEWSWIRE) -- Cidara Therapeutics, Inc. (NASDAQ:CDTX), a biotechnology company developing long-acting therapeutics to transform the standard of care for patients facing serious fungal or viral infections, today announced that it has been added to the Russell 3000® Index at the conclusion of the Russell indexes annual reconstitution, effective upon the U.S. market open today, June 29, 2020.

    Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell's U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

    "We are pleased to be included in the Russell 3000 index and view this important milestone as validation of the progress we've achieved in communicating the value of our antifungal and antiviral programs to the investment community," said Jeffrey Stein, Ph.D., president and chief executive officer of Cidara. "Moreover, we believe our inclusion in the Russell 3000 has the potential to further enhance shareholder value through increased institutional investor exposure and visibility for Cidara."

    For more information on the Russell 3000 and the Russell indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website.

    About Cidara Therapeutics

    Cidara is developing therapeutics to improve the standard of care for patients facing serious fungal or viral infections. The Company's portfolio is comprised of breakthrough approaches aimed at transforming existing treatment and prevention paradigms, first with its lead antifungal candidate, rezafungin, in addition to therapies targeting influenza and other viral diseases from Cidara's proprietary Cloudbreak® antiviral platform. 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," "plan" or "will". Forward-looking statements in this release include, but are not limited to, statements related to whether our inclusion in the Russell 3000 index will result in improved shareholder value. You are cautioned that 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, including the availability of, and participation in, financing opportunities. These and other risks are identified in our filings with the SEC, including without limitation our most recent Quarterly Report on Form 10-Q and in other filings subsequently made by Cidara with the SEC. 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

    MEDIA CONTACT:

    Karen O'Shea, Ph.D.

    LifeSci Communications

    (929) 469-3860

    Primary Logo

    View Full Article Hide Full Article
  2. SAN DIEGO, June 23, 2020 (GLOBE NEWSWIRE) -- Cidara Therapeutics, Inc. (NASDAQ:CDTX), a biotechnology company developing long-acting therapeutics to transform the standard of care for patients facing serious fungal or viral infections, today announced that Jeffrey Stein, Ph.D., President and Chief Executive Officer, will participate in the Cantor Fitzgerald "Winning Ways to Treat Infections and COVID-19" Virtual Symposium on Tuesday, June 30, 2020.

    The discussion is intended to provide important updates on how innovative companies, such as Cidara, are leveraging their proprietary technology platforms to develop new ways to treat infections, including COVID diseases. The panelists will also discuss how COVID-19 underscores the need for stockpiling…

    SAN DIEGO, June 23, 2020 (GLOBE NEWSWIRE) -- Cidara Therapeutics, Inc. (NASDAQ:CDTX), a biotechnology company developing long-acting therapeutics to transform the standard of care for patients facing serious fungal or viral infections, today announced that Jeffrey Stein, Ph.D., President and Chief Executive Officer, will participate in the Cantor Fitzgerald "Winning Ways to Treat Infections and COVID-19" Virtual Symposium on Tuesday, June 30, 2020.

    The discussion is intended to provide important updates on how innovative companies, such as Cidara, are leveraging their proprietary technology platforms to develop new ways to treat infections, including COVID diseases. The panelists will also discuss how COVID-19 underscores the need for stockpiling in the U.S. The call will be moderated by Louise Chen, Senior Research Analyst and Managing Director of Cantor Fitzgerald.

    Presentation Information:

    Panel:                     "Winning Ways to Treat Infections and COVID-19"

    Date:                       Tuesday, June 30, 2020

    Time:                      11:00 AM ET

    To register, please click here.

    About Cidara Therapeutics

    Cidara is developing therapeutics to improve the standard of care for patients facing severe fungal or viral infections. The Company's portfolio is comprised of breakthrough approaches aimed at transforming existing treatment and prevention paradigms, first with its lead antifungal candidate, rezafungin, in addition to therapies targeting influenza and other viral diseases from Cidara's proprietary Cloudbreak® antiviral platform. 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," "plan" or "will". Forward-looking statements in this release include, but are not limited to, statements related to whether Cidara will be able to successfully leverage its proprietary Cloudbreak® antiviral platform to develop new ways to treat infections, including COVID diseases.  You are cautioned that 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, including the availability of, and participation in, financing opportunities. These and other risks are identified in our filings with the SEC, including without limitation our Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 and in other filings subsequently made by Cidara with the SEC. 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

    MEDIA CONTACT:

    Karen O'Shea, Ph.D.

    LifeSci Communications

    (929) 469-3860

     

    Primary Logo

    View Full Article Hide Full Article
  3. SAN DIEGO, June 11, 2020 (GLOBE NEWSWIRE) -- Cidara Therapeutics, Inc. (NASDAQ:CDTX), a biotechnology company developing long-acting therapeutics to transform the standard of care for patients facing serious fungal or viral infections, today announced that Jeffrey Stein, Ph.D., President and Chief Executive Officer, will present virtually at the Raymond James Human Health Innovations Conference on Thursday, June 18, 2020.

    Presentation Information:
    Date: Thursday, June 18, 2020
    Time: 3:40 PM ET
    Webcast: A live audio webcast and replay of the presentation will be available in the Investors section on the Company's website at www.cidara.com.

    About Cidara Therapeutics
    Cidara is developing therapeutics to improve the standard of care for patients facing…

    SAN DIEGO, June 11, 2020 (GLOBE NEWSWIRE) -- Cidara Therapeutics, Inc. (NASDAQ:CDTX), a biotechnology company developing long-acting therapeutics to transform the standard of care for patients facing serious fungal or viral infections, today announced that Jeffrey Stein, Ph.D., President and Chief Executive Officer, will present virtually at the Raymond James Human Health Innovations Conference on Thursday, June 18, 2020.

    Presentation Information:

    Date: Thursday, June 18, 2020
    Time: 3:40 PM ET
    Webcast: A live audio webcast and replay of the presentation will be available in the Investors section on the Company's website at www.cidara.com.

    About Cidara Therapeutics

    Cidara is developing therapeutics to improve the standard of care for patients facing serious fungal or viral infections. The Company's portfolio is comprised of breakthrough approaches aimed at transforming existing treatment and prevention paradigms, first with its lead Phase 3 antifungal candidate, rezafungin, in addition to antiviral conjugates (AVCs) targeting influenza and other viral diseases from Cidara's proprietary Cloudbreak antiviral platform. Cidara is headquartered in San Diego, California. For more information, please visit www.cidara.com.

    INVESTOR CONTACT:

    Brian Ritchie

    LifeSci Advisors

    (212) 915-2578

    MEDIA CONTACT:

    Karen O'Shea, Ph.D.

    LifeSci Communications

    (929) 469-3860

     

    Primary Logo

    View Full Article Hide Full Article
  4. SAN DIEGO and CAMBRIDGE, England, May 20, 2020 (GLOBE NEWSWIRE) -- Cidara Therapeutics, Inc. (NASDAQ:CDTX), a biotechnology company developing long-acting therapeutics to transform the standard of care for patients facing serious fungal or viral infections, and Mundipharma today announced that the first patient has been dosed in its ReSPECT pivotal Phase 3 clinical trial evaluating the efficacy and safety of the company's lead antifungal candidate, rezafungin, for the prevention of invasive fungal disease in patients undergoing allogeneic blood and marrow transplantation (BMT). Rezafungin is a novel, once-weekly echinocandin being developed for both the treatment and prevention of severe fungal infections.

    Johan A. Maertens, M.D., Ph.D., FECCM…

    SAN DIEGO and CAMBRIDGE, England, May 20, 2020 (GLOBE NEWSWIRE) -- Cidara Therapeutics, Inc. (NASDAQ:CDTX), a biotechnology company developing long-acting therapeutics to transform the standard of care for patients facing serious fungal or viral infections, and Mundipharma today announced that the first patient has been dosed in its ReSPECT pivotal Phase 3 clinical trial evaluating the efficacy and safety of the company's lead antifungal candidate, rezafungin, for the prevention of invasive fungal disease in patients undergoing allogeneic blood and marrow transplantation (BMT). Rezafungin is a novel, once-weekly echinocandin being developed for both the treatment and prevention of severe fungal infections.

    Johan A. Maertens, M.D., Ph.D., FECCM, Professor of Internal Medicine and Hematology, University Hospitals Leuven, Leuven, Belgium and investigator in the ReSPECT study, said, "Rezafungin has the potential to become the new standard of care to prevent invasive fungal disease in patients undergoing allogeneic blood and marrow transplants. The cocktail of preventative options used today has significant limitations, such as toxicities, hazardous drug-drug interactions and patient compliance. With one drug, rezafungin, given once-weekly, we may be able to overcome these substantial limitations to improve patient outcomes in this highly immunosuppressed population."

    Jeffrey Stein, Ph.D., president and chief executive officer of Cidara, added, "The ReSPECT pivotal Phase 3 trial studying rezafungin for the prevention of severe fungal infections, along with our ongoing ReSTORE Phase 3 trial evaluating rezafungin for the treatment of invasive Candida infections, positions rezafungin to potentially become the first new antifungal approved for both the treatment and prevention of serious fungal infections in nearly 15 years. Patients with compromised immune systems face complex drug regimens when undergoing BMT and experience a high mortality rate if infected. Shifting the antifungal standard of care to a single once-weekly drug, rezafungin, which has the potential to protect against three deadly pathogens, could significantly transform the approach and outcomes for patients and health care providers alike."  

    Cidara is supported in the ongoing development of rezafungin by Mundipharma, who will be responsible for bringing the therapy to patients outside the U.S. and Japan.

    Brian Sheehan, senior vice president Innovation at Mundipharma commented: "We are pleased to be working in partnership with Cidara Therapeutics on this promising therapy in an area that has seen little innovation in over a decade. The launch of this pivotal Phase 3 trial is an important milestone in our joint efforts to support vulnerable patients around the world."

    The ReSPECT trial is a global, randomized, double-blind, controlled, pivotal Phase 3 trial of rezafungin versus the standard antimicrobial regimen to prevent invasive fungal disease due to Candida, Aspergillus and Pneumocystis in subjects undergoing allogeneic BMT. Rezafungin, dosed once-weekly, will be compared to a daily regimen containing multiple drugs including fluconazole or posaconazole, and trimethoprim-sulfamethoxazole, also known as Bactrim, for 90 days, at which time fungal-free survival will be measured as the primary efficacy outcome. The trial will enroll approximately 462 adults with underlying conditions, such as acute myeloid leukemia, acute lymphoblastic leukemia, chronic myelogenous leukemia, myelodysplastic syndrome(s), lymphoma and aplastic anemia, across approximately 30 BMT centers.

    Further information on the ReSPECT trial can be found at: https://clinicaltrials.gov/ct2/show/NCT04368559

    About Invasive Fungal Disease
    Each year, an estimated 1.5 million people with compromised or suppressed immune systems die of invasive fungal infections worldwide.1 The current standard of care for the prevention of invasive fungal disease requires complex patient-specific plans and drug cocktails that are subject to change due to the underlying disease, toxicities and the local epidemiology of fungal infections.2,3 Patients who have received a blood and marrow transplant, cancer chemotherapy or solid organ transplant may receive prophylaxis to prevent deadly Candida, Aspergillus and/or Pneumocystis infections for several weeks to over a year, depending on the period of immunosuppression or development of Graft Versus Host Disease.3

    About Rezafungin
    Rezafungin is a novel once-weekly echinocandin being developed for both the treatment and prevention of serious fungal infections, such as candidemia and invasive candidiasis. The structure and properties of rezafungin were specifically designed to improve upon a clinically validated mechanism, enhancing its efficacy and safety potential for patients. Cidara and its strategic partner Mundipharma are currently conducting a Phase 3 clinical trial with rezafungin for the first-line treatment of candidemia and/or invasive candidiasis (ReSTORE trial)4, as well as a second Phase 3 clinical trial of once-weekly rezafungin for prevention against invasive fungal infections in patients undergoing allogeneic blood and marrow transplantation (ReSPECT trial).5 Mundipharma has exclusive rights to develop and commercialize rezafungin in all markets outside of the United States and Japan, which are retained by Cidara.

    About Cidara Therapeutics
    Cidara is developing therapeutics to improve the standard of care for patients facing serious fungal or viral infections. The Company's portfolio is comprised of breakthrough approaches aimed at transforming existing treatment and prevention paradigms, first with its lead Phase 3 antifungal candidate, rezafungin, in addition to antiviral conjugates (AVCs) targeting influenza and other viral diseases from Cidara's proprietary Cloudbreak antiviral platform. Cidara is headquartered in San Diego, California. For more information, please visit www.cidara.com.

    About the Mundipharma network
    Mundipharma is a global network of privately-owned independent associated companies whose purpose is to move medicine forward.  With a high performing and learning organisation that strives for innovation and commercial excellence through partnerships, we successfully transformed and diversified our European portfolio of medicines to create value for patients, payers and wider healthcare systems across important therapeutic areas such as Diabetes, Respiratory, Oncology, Pain and Biosimilars.

    Safe Harbor Statement
    Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, whether we can successfully develop rezafungin, establish it as a new standard of care or whether rezafungin can overcome limitations of existing therapies, whether the Phase 3 development program for rezafungin will be successful and be approved both for treatment and prevention of serious fungal infections, or whether as a therapy it will protect against deadly pathogens and transform the approach and outcomes for patients and healthcare providers. Risks that contribute to the uncertain nature of the forward-looking statements include, but are not limited to: the success and timing of Cidara's clinical trials; regulatory developments in the United States and foreign countries; changes in Cidara's plans to develop and commercialize its product candidates; Cidara's ability to obtain additional financing; Cidara's ability to obtain and maintain intellectual property protection for its product candidates; the success and timing of Cidara's discovery and pre-clinical programs; the loss of key scientific or management personnel; and the impacts of global health crises, including the recent COVID-19 pandemic. These and other risks and uncertainties are described more fully in Cidara's Form 10-Q most recently filed with the United States Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made. Cidara undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

    INVESTOR CONTACT:
    Brian Ritchie
    LifeSci Advisors
    (212) 915-2578

    MEDIA CONTACT:
    Karen O'Shea, Ph.D.
    LifeSci Communications
    (929) 469-3860

    MEDIA CONTACT: (Ex-US and Japan)
    Helen Rae
    Makara Health Communications
    +44 (0) 7503 652 311 / +44 (0) 23 81 247 327

    References:

    1. Bongomin F, Gago S, Oladele RO et al. Global and Multi-National Prevalence of Fungal Diseases-Estimate Precision. J Fungi (Basel). 2017;3(4).
    2. Vazquez L.  Antifungal Prophylaxis in Immunocompromised Patients. Mediterr J Hematol Infect Dis. 2016; 8(1): e2016040.
    3. Fleming S,  Yannakou CK,  Haeusler GM et al. Consensus guidelines for antifungal prophylaxis in haematological malignancy and haemopoietic stem cell transplantation, 2014. Internal Medicine Journal 2014; 44 (12b):1283-97.
    4. https://clinicaltrials.gov/ct2/show/NCT03667690
    5. https://clinicaltrials.gov/ct2/show/NCT04368559

    Primary Logo

    View Full Article Hide Full Article
  5. SAN DIEGO, May 13, 2020 (GLOBE NEWSWIRE) -- Cidara Therapeutics, Inc. (NASDAQ:CDTX), a biotechnology company developing long-acting therapeutics to transform the standard of care for patients facing serious fungal or viral infections, today reported financial results for the three months ended March 31, 2020, and provided an update on its corporate activities and product pipeline.

    "We are pleased to report that we have recently activated our first clinical trial site for the Phase 3 ReSPECT trial, which is evaluating rezafungin for the prevention of invasive fungal disease in patients undergoing allogeneic blood and marrow transplantation (BMT), and it is now open for enrollment," said Jeffrey Stein, Ph.D., president and chief executive officer…

    SAN DIEGO, May 13, 2020 (GLOBE NEWSWIRE) -- Cidara Therapeutics, Inc. (NASDAQ:CDTX), a biotechnology company developing long-acting therapeutics to transform the standard of care for patients facing serious fungal or viral infections, today reported financial results for the three months ended March 31, 2020, and provided an update on its corporate activities and product pipeline.

    "We are pleased to report that we have recently activated our first clinical trial site for the Phase 3 ReSPECT trial, which is evaluating rezafungin for the prevention of invasive fungal disease in patients undergoing allogeneic blood and marrow transplantation (BMT), and it is now open for enrollment," said Jeffrey Stein, Ph.D., president and chief executive officer of Cidara. "In regard to our ongoing Phase 3 ReSTORE trial, which is evaluating rezafungin for the treatment of invasive Candida infections, while we are encouraged to see enrollment trends improving in certain geographies over the past few weeks, given the continued uncertainty of the impact of the COVID-19 pandemic on future enrollment, we are temporarily suspending guidance related to the anticipated timing of top-line data until we have further clarity around overall enrollment trends."

    Dr. Stein continued, "As a consequence of the current pandemic, multiple publications have reported invasive aspergillosis in up to 30% of critically ill hospitalized COVID-19 patients, and Cidara is exploring potential sources of government or other non-dilutive funding to conduct a clinical trial of rezafungin for the prevention of the hyperimmune response due to aspergillus infections in the respiratory tract of COVID-19 patients. In addition, we are currently evaluating molecules generated from our Cloudbreak® AVC antiviral platform against SARS-CoV-2 and other members of the coronavirus family."

    Recent Corporate Highlights

    • Activated first ReSPECT trial site: In May, Cidara activated the first clinical trial site in its Phase 3 ReSPECT prophylaxis trial of rezafungin in patients undergoing allogeneic blood and marrow transplant.
       
    • Completed $30M rights offering: In February, Cidara raised $30M through issuance of common and Series X Preferred stock in a rights offering that was fully backstopped by Biotechnology Value Fund, L.P. and Stonepine Capital, LP.
       
    • Announced new data for rezafungin and CD377: In May, new clinical and preclinical data were published for rezafungin and CD377, Cidara's antiviral conjugate (AVC) development candidate for influenza, via the virtual abstract book from the European Congress of Clinical Microbiology and Infectious Diseases (ECCMID).
       
    • Exploring rezafungin and Cloudbreak antiviral programs to address COVID-19 challenges: Cidara identified the potential for rezafungin, its lead antifungal candidate, to be used in the prevention of the hyperimmune response seen in critical COVID-19 patients with aspergillosis. Cidara also began evaluating AVCs identified from its Cloudbreak antiviral platform as potential coronavirus therapeutics.
       
    • Presented at two investor conferences: Cidara presented at the 19th Annual Needham Virtual Healthcare Conference in April and Maxim Group's Infectious Diseases Virtual Conference in May.

    First Quarter 2020 Financial Results

    • Cash, cash equivalents and restricted cash totaled $74.3 million as of March 31, 2020, compared with $60.3 million as of December 31, 2019. 

    • As of March 31, 2020, Cidara had 40,559,511 shares of common stock outstanding, and 1,096,519 shares of Series X convertible preferred stock outstanding, which are convertible into 10,965,190 shares of common stock. 

    • Research and development expenses were $13.0 million for the three months ended March 31, 2020, compared to $12.7 million for the same period in 2019. The increase was primarily attributable to clinical development activities for rezafungin. 

    • General and administrative expenses were $4.1 million for the three months ended March 31, 2020, compared to $3.7 million for the same period in 2019. 

    • Net loss for the three months ended March 31, 2020 was $14.5 million, compared to a net loss of $16.6 million for the first quarter of 2019.

    About the ReSPECT Clinical Trial
    The ReSPECT trial is a global, randomized, double-blind, controlled, pivotal Phase 3 trial of rezafungin versus the standard antimicrobial regimen to prevent invasive fungal disease due to Candida, Aspergillus and Pneumocystis in subjects undergoing allogeneic BMT. Using the same once weekly dosing regimen previously used in the Phase 2 and currently used in Phase 3 treatment trials with an extended duration for 90 days, Rezafungin will be compared to a daily regimen containing multiple drugs including fluconazole or posaconazole, and trimethoprim-sulfamethoxazole, also known as Bactrim, for 90 days, at which time fungal-free survival will be measured as the primary efficacy outcome. The trial will enroll approximately 462 adults with underlying conditions, such as acute myeloid leukemia, acute lymphoblastic leukemia, chronic myelogenous leukemia, myelodysplastic syndrome(s), lymphoma and aplastic anemia, across approximately 30 BMT centers.

    About Cidara Therapeutics
    Cidara is developing therapeutics to improve the standard of care for patients facing severe fungal or viral infections. The Company's portfolio is comprised of breakthrough approaches aimed at transforming existing treatment and prevention paradigms, first with its lead antifungal candidate, rezafungin, in addition to therapies targeting influenza and other viral diseases from Cidara's proprietary Cloudbreak® antiviral platform. 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," "plan" or "will". Forward-looking statements in this release include, but are not limited to, statements related to whether Cidara will be able to continue to activate clinical trials sites or timely enroll the ReSPECT trial,  whether current enrollment in the ReSTORE trial represents an improved enrollment trend overall, whether the impact of the COVID-19 pandemic on the ReSTORE trial will subside and allow Cidara to predict timing for top-line data, whether rezafungin will be an effective prophylaxis against COVID-19-related fungal infections and whether Cidara will be able to attract non-dilutive financing to conduct a clinical trial for this purpose, and whether Cidara will successfully identify AVCs from its Cloudbreak antiviral platform that will be effective against COVID-19.  You are cautioned that 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, including the availability of, and participation in, financing opportunities. These and other risks are identified in our filings with the SEC, including without limitation our Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 and in other filings subsequently made by Cidara with the SEC. 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

    MEDIA CONTACT:
    Karen O'Shea, Ph.D.
    LifeSci Communications
    (929) 469-3860

    CIDARA THERAPEUTICS, INC.
    Condensed Consolidated Balance Sheets
      March 31, 2020   December 31, 2019
    (In thousands) (unaudited)    
    ASSETS      
    Cash, cash equivalents, and restricted cash $ 74,314   $ 60,268
    Other current assets 6,307   5,546
    Non-current assets 3,476   3,162
    Total assets $ 84,097   $ 68,976
           
    LIABILITIES AND STOCKHOLDERS' EQUITY      
    Total liabilities $ 30,345   $ 31,141
    Stockholders' equity 53,752   37,835
    Total liabilities and stockholders' equity $ 84,097   $ 68,976


    CIDARA THERAPEUTICS, INC.
    Condensed Consolidated Statements of Operations (unaudited)
      Three Months Ended
    March 31,
    (In thousands, except share and per share data) 2020   2019
    Revenues:      
    Collaboration Revenue $ 2,530     $  
    Total revenues 2,530      
    Operating expenses:      
    Research and development 12,996     12,669  
    General and administrative 4,095     3,735  
    Total operating expenses 17,091     16,404  
    Loss from operations (14,561 )   (16,404 )
    Other income (expense):      
    Change in fair value of contingent forward purchase obligations     (270 )
    Interest income, net 22     113  
    Total other income (expense) 22     (157 )
    Net loss and comprehensive loss $ (14,539 )   $ (16,561 )
    Recognition of beneficial conversion feature (2,762 )    
    Net loss attributable to common shareholders $ (17,301 )   $ (16,561 )
    Basic and diluted net loss per common share $ (0.46 )   $ (0.58 )
           
    Shares used to compute basic and diluted net loss per common share 37,856,338     28,532,176  


    Primary Logo

    View Full Article Hide Full Article
View All Cidara Therapeutics Inc. News