Cidara reports FY2023 net loss $22.9M; effects 1-for-20 reverse stock split

Cidara Therapeutics, Inc.

Net loss $22.9M in FY2023 ($33.6M in 2022); revenue $63.9M. Cash $35.8M at Dec 31, 2023.
1-for-20 reverse stock split effective April 23, 2024; shares begin trading split-adjusted April 24.
REZZAYO approved in EU and UK; Cidara received $11.1M and $2.8M milestone payments.
IND for lead oncology DFC CBO421 expected mid-2024; Phase 3 ReSTORE China data expected Q2 2024.
Financial results restated to correct understated accrued liabilities and operating expenses from indirect taxes.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Cidara Therapeutics, Inc. reported the fourth quarter and full year ended December 31, 2023 results: revenue $17.6 million and $63.9 million.

Period: the fourth quarter and full year ended December 31, 2023
Revenue: $17.6 million and $63.9 million
Result: reported results

Exact text from the filing

a Top Workplace by The San Diego Union-Tribune for the sixth year, ranking among the top 100 companies. Fourth Quarter and Full Year 2023 Financial Results • Revenue totaled $17.6 million and $63.9 million for the three months and full year ended December 31, 2023, respectively, compared with $10.2 million and $64.4 million for the same periods in 2022. Revenue

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Cidara Therapeutics, Inc.: Amended certificate of incorporation to effect a 1-for-20 reverse stock split and reduce authorized shares to 20,000,000 (effective 2024-04-23).

Change: charter amendment
Effective: 2024-04-23

Exact text from the filing

On April 22, 2024, the Company filed with the Secretary of State of the State of Delaware a Certificate of Amendment of its Amended and Restated Certificate of Incorporation (the “Charter Amendment”) to effect the 1-for-20 reverse stock split of the Company’s outstanding common stock.

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Source: SEC EDGAR

accession 0001610618-24-000043

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