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Cidara Therapeutics, Inc. (NASDAQ:CDTX), currently valued at $615 million, announced Tuesday that it has suspended and terminated its at-the-market (ATM) prospectus related to the sale of its common stock. The company delivered written notice to Jefferies LLC, its sales agent, to end the prospectus dated May 15, 2025, which was issued under an Open Market Sale Agreement signed on May 8, 2025. InvestingPro data shows the company maintains a strong balance sheet with more cash than debt, though it’s currently burning through cash reserves rapidly.
According to the company’s statement, Cidara will not make any sales of its common stock under the terminated prospectus unless a new prospectus or prospectus supplement is filed with the Securities and Exchange Commission. The Sales Agreement with Jefferies remains in effect, but no shares will be sold through the program at this time.
The company’s common stock continues to be listed on The Nasdaq Stock Market LLC under the ticker symbol CDTX.
This information is based on a press release statement included in a recent SEC filing.
In other recent news, Cidara Therapeutics announced a proposed public offering of $250 million in common stock, with J.P. Morgan, Morgan Stanley, Guggenheim Securities, and Cantor serving as joint book-running managers. The offering is subject to market conditions and includes an option for underwriters to purchase an additional 15% of the shares. In parallel, Cidara reported positive topline results from its Phase 2b NAVIGATE trial for CD388, a drug designed for influenza prevention. The trial demonstrated statistically significant prevention efficacy across all dose groups, with the highest dose showing 76.1% efficacy. The results were well-received, with no safety concerns observed. Additionally, H.C. Wainwright assumed coverage on Cidara with a buy rating, highlighting CD388’s novel approach to influenza prevention. The firm emphasized CD388’s potential to provide universal protection regardless of immune status. Cidara has requested an end of Phase 2 meeting with the FDA to discuss the design of a Phase 3 trial.
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