Cidara Therapeutics launches $250 mln equity offering after stock soars

Cidara Therapeutics

23/06/2025 22:17

**  Shares of Cidara Therapeutics CDTX.O edge lower after hours as co looks to capitalize on big pop in its stock to raise equity

    ** CDTX shares soared ~114% to close at $44.95, 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

    ** Co said study met primary and secondary efficacy endpoints for all dose groups

      ** After the bell, San Diego-based firm commenced $250 mln stock offering

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

** Cidara has ~13 mln shares outstanding for current market cap of roughly $580 mln, per recent 10-Q filing

** Through Fri close, CDTX shares had lost ~22% in 2025

** 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))