Cidara rises as UK approves fungal infection treatment

Cidara Therapeutics

29/01/2024 22:00

** Cidara Therapeutics  CDTX.O  shares rise 15.3% to $0.78
after the bell
    ** Co says UK's Medicines and Healthcare products Regulatory
Agency (MHRA) approved its fungal infection treatment Rezzayo
for invasive candidiasis in adults
    ** Invasive candidiasis is an infection caused by a type of
fungus called Candida and can affect the blood, heart, brain and
other body parts
    ** Co adds it is entitled to receive a $2.8 mln milestone
payment from partner Mundipharma, which has commercial rights to
rezafungin outside the U.S. and Japan, on the MHRA nod 
    ** The drug is already approved by the U.S. and EU health
regulators
    ** Stock rose about 5% in 2023 
    

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))