Cidara Therapeutics falls after $350 mln equity offering priced

Cidara Therapeutics

25/06/2025 11:24

**  Shares of Cidara Therapeutics CDTX.O down 7.3% premarket to $43.40 after upsized follow-on priced

    ** San Diego-based firm late Tues announced offering of ~7.95 mln shares at $44 for $350 mln gross proceeds

    ** Offering priced at 6.1% discount to stock's last sale

    ** On Mon,
    CDTX shares soared ~114% to nearly 4-yr high after co early Mon announced positive topline results from Phase II trial for CD388, a non-vaccine preventative of seasonal influenza

    ** Shares added another 4% on Tues to close at $46.84 after co launched $

      250 mln equity offering

      ** JP Morgan, Morgan Stanley, Guggenheim and Cantor are jt bookrunners for offering

      ** Co has ~13 mln shares outstanding for current market cap of about $608 mln

**  All 7 analysts are bullish on CDTX with median PT of $56.50, up from $40 a month ago, latest LSEG data shows

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))