Cidara reacquires CD388 flu program, raises $240M; Q1 revenue $8.5M, net loss $10.3M

Cidara Therapeutics, Inc.

Reacquired exclusive global development and commercial rights to CD388 from Janssen; plans to initiate Phase 2b trial in upcoming Northern Hemisphere flu season.
Closed $240.0M private placement led by RA Capital; $85.0M used for upfront Janssen payment, remaining $155.0M funds runway through Phase 2b topline.
Divested rezafungin to Mundipharma; expects ~$128.0M cost savings over rezafungin patent life.
Q1 2024 revenue $8.5M (down from $26.1M YoY); net loss $10.3M vs net income $3.0M in prior year period.
Appointed three new board members (Tadvalkar, Spencer, Merson); executed 1-for-20 reverse stock split, shares trade under CDTX.

item 2.02 item 9.01

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 first quarter ended March 31, 2024 results: revenue $8.5 million.

Period: the first quarter ended March 31, 2024
Revenue: $8.5 million
Result: reported results

Exact text from the filing

Company’s multispecific CD73/PD-1 DFC, its CCR5-targeting DFC, and CBO421, its lead oncology DFC candidate targeting CD73. First Quarter 2024 Financial Results • Revenue totaled $8.5 million for the three months ended March 31, 2024, compared to $26.1 million for the same period in 2023. Revenue for the three months ended March 31, 2024 related to the achievement of

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Source: SEC EDGAR

accession 0001610618-24-000074

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