secwatch.observer — SEC 8-K summary
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Issuer:     Cidara Therapeutics, Inc. (—)
CIK:        0001610618
Form:       8-K
Filed at:   2024-05-15T23:59:59+00:00
Accession:  0001610618-24-000074
Event type: other_material
Sentiment:  neutral
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1610618/000161061824000074/0001610618-24-000074-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1610618/000161061824000074/cdtx-20240515.htm
  HTML page:      https://secwatch.observer/filing/0001610618-24-000074

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer