Cidara Therapeutics, Inc.: restructuring charge — Cidara cuts 30% of workforce, focuses on CD388 influenza program; Phase 2b planned Q3 2024

Cidara Therapeutics, Inc.

Reduction of 20 employees (~30% of workforce); charges ~$1.2M for severance and benefits in Q4 2024.
Workforce reduction expected to be substantially completed by November 1, 2024.
Company will focus entirely on CD388 influenza candidate; no other clinical trials currently planned.
Phase 2b clinical trial of CD388 for influenza prevention expected to initiate in Q3 2024.

item 2.05 item 8.01

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Cidara Therapeutics, Inc. announced a restructuring with charges of approximately $1.2 million (20 employees).

Type: restructuring
Charge: approximately $1.2 million
Headcount: 20 employees

Exact text from the filing

its influenza product candidate. The Reduction is expected to be substantially completed by November 1, 2024. The Company estimates that it will incur charges of approximately $1.2 million for severance payments and employee benefits, primarily in the fourth quarter of 2024. Substantially all of the estimated charges are expected to result in future cash

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Source: SEC EDGAR

accession 0001610618-24-000121

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