secwatch.observer — SEC 8-K summary
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Issuer:     Cidara Therapeutics, Inc. (—)
CIK:        0001610618
Form:       8-K
Filed at:   2024-04-24T23:59:59+00:00
Accession:  0001610618-24-000051
Event type: other_material
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 5.02, 1.02, 3.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1610618/000161061824000051/0001610618-24-000051-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1610618/000161061824000051/cdtx-20240423.htm
  HTML page:      https://secwatch.observer/filing/0001610618-24-000051

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