---
schema_version: "secwatch.filing_event.v1"
accession: "0001610618-24-000051"
form_type: "8-K"
ticker: null
cik: "0001610618"
company_name: "Cidara Therapeutics, Inc."
filed_at: "2024-04-24T23:59:59+00:00"
generated_at: "2026-06-03T09:38:49.191993+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Cidara pays $85M to Janssen for influenza program rights; raises $240M in private placement

## Summary
- Paid $85M upfront to Janssen to acquire exclusive worldwide license to CD388 and influenza DFC program, terminating prior collaboration.
- Raised $240M gross from private placement of 240,000 Series A Preferred shares at $1,000 each; shares automatically convert to common at $14.20 per share.
- Board expanded to nine; two prior directors resigned, three new directors appointed (James Merson, Ryan Spencer, Laura Tadvalkar) effective at closing.
- Company assumes full responsibility for development, manufacturing, and commercialization of CD388 after Phase 2a completion.
- Potential milestone payments to Janssen up to $605M ($150M development + $455M commercialization); no royalties on product sales.

## SEC filing metadata
- accession: 0001610618-24-000051
- form_type: 8-K
- cik: 0001610618
- company_name: Cidara Therapeutics, Inc.
- filed_at: 2024-04-24T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 5.02, 1.02, 3.02, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1610618/000161061824000051/0001610618-24-000051-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1610618/000161061824000051/cdtx-20240423.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001610618-24-000051
- JSON: https://secwatch.observer/filing/0001610618-24-000051.json
- Plain text: https://secwatch.observer/filing/0001610618-24-000051.txt

## Key facts
- Executive change
  Laura Tadvalkar was appointed as Director at Cidara Therapeutics, Inc..
  - Action: appointed
  - Role: Director
  source text: appointed James Merson, Ph.D., Ryan Spencer, and Laura Tadvalkar, Ph.D., as directors of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1610618/000161061824000051/0001610618-24-000051-index.htm
- Executive change
  Ryan Spencer was appointed as Director at Cidara Therapeutics, Inc..
  - Action: appointed
  - Role: Director
  source text: appointed James Merson, Ph.D., Ryan Spencer, and Laura Tadvalkar, Ph.D., as directors of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1610618/000161061824000051/0001610618-24-000051-index.htm
- Executive change
  David Gollaher resigned as Director at Cidara Therapeutics, Inc..
  - Action: resigned
  - Role: Director
  source text: each of Timothy R. Franson, M.D., and David Gollaher, Ph.D. tendered their resignations from the Board, contingent on and effective as of immediately prior to the closing of the Private Placement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1610618/000161061824000051/0001610618-24-000051-index.htm
- Executive change
  James Merson was appointed as Director at Cidara Therapeutics, Inc..
  - Action: appointed
  - Role: Director
  source text: appointed James Merson, Ph.D., Ryan Spencer, and Laura Tadvalkar, Ph.D., as directors of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1610618/000161061824000051/0001610618-24-000051-index.htm
- Executive change
  Timothy R. Franson resigned as Director at Cidara Therapeutics, Inc..
  - Action: resigned
  - Role: Director
  source text: each of Timothy R. Franson, M.D., and David Gollaher, Ph.D. tendered their resignations from the Board, contingent on and effective as of immediately prior to the closing of the Private Placement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1610618/000161061824000051/0001610618-24-000051-index.htm
- Governance Changes
  Cidara Therapeutics, Inc.: Filed Certificate of Designation for Series A Preferred Stock.
  - Change: charter amendment
  source text: on the Closing Date, the Company filed the Certificate of Designation with the Secretary of State of the State of Delaware designating 240,000 shares of its authorized and unissued preferred stock as Series A Preferred Stock
  evidence_url: https://www.sec.gov/Archives/edgar/data/1610618/000161061824000051/0001610618-24-000051-index.htm
- Material Agreements
  Cidara Therapeutics, Inc. entered into Securities Purchase Agreement with Institutional and other accredited investors valued at 240,000 shares of Series A Convertible Voting Preferred Stock at $1,000 per share for total gross pr (effective 2024-04-23).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Institutional and other accredited investors
  - Value: 240,000 shares of Series A Convertible Voting Preferred Stock at $1,000 per share for total gross pr
  - Effective: 2024-04-23
  source text: On April 23, 2024 (the “Signing Date”), the Company entered into a securities purchase agreement (the “Securities Purchase Agreement”) with certain institutional and other accredited investors (the “Purchasers”), pursuant to which the Company issued and sold, in a private placement (the “Private Placement”), 240,000 shares of Series A Convertible Voting Preferred Stock, par value $0.0001 per share (the “Series A Preferred Stock”), at a purchase price of $1,000 per share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1610618/000161061824000051/0001610618-24-000051-index.htm
- Material Agreements
  Cidara Therapeutics, Inc. terminated 2021 Collaboration Agreement with Janssen Pharmaceuticals, Inc. valued at Terminated upon effectiveness of the Janssen License Agreement (effective 2024-04-24).
  - Action: termination
  - Agreement: collaboration
  - Counterparty: Janssen Pharmaceuticals, Inc.
  - Value: Terminated upon effectiveness of the Janssen License Agreement
  - Effective: 2024-04-24
  source text: Upon the effectiveness of the Janssen License Agreement, the 2021 Collaboration Agreement, including the license granted by the Company to Janssen and the Company’s non‐compete covenant thereunder, terminated, and the Company assumed responsibility for further clinical development, manufacture, registration and commercialization of DFCs within the Influenza Program (“Compounds”), including CD388, and products containing Compounds (“Products”), including Products containing CD388 (“CD388 Product”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1610618/000161061824000051/0001610618-24-000051-index.htm
- Material Agreements
  Cidara Therapeutics, Inc. entered into License and Technology Transfer Agreement with Janssen Pharmaceuticals, Inc. valued at Upfront payment of $85 million; up to $150 million in development and regulatory milestone payments; (effective 2024-04-24).
  - Action: entry
  - Agreement: license
  - Counterparty: Janssen Pharmaceuticals, Inc.
  - Value: Upfront payment of $85 million; up to $150 million in development and regulatory milestone payments;
  - Effective: 2024-04-24
  source text: On April 23, 2024 (the “Signing Date”), the Company and Janssen Pharmaceuticals, Inc. (“Janssen”) entered into a license and technology transfer agreement (the “Janssen License Agreement”) related to drug-Fc conjugates (“DFCs”) based on the Company’s Cloudbreak ® platform for the prevention and treatment of influenza (“Influenza Program”), including CD388, the Company’s most advanced DFC program, which has completed a Phase 2a clinical trial.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1610618/000161061824000051/0001610618-24-000051-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.