Summary
CDTX Chart
Merck Writes a $9.2 Billion Check for a Flu Drug That Could Change Everything
In one of the most decisive strategic moves in the biotech sector this year, pharmaceutical titan Merck & Co. NYSE: MRK has committed a formidable $9.2 billion in cash to acquire Cidara Therapeutics NASDAQ: CDTX.
This Biotech's Stock Price More Than Doubled on Friday. Here's Why.
Shares of Cidara Therapeutics (CDTX) more than doubled Friday after Merck (MRK) agreed to buy the biopharmaceutical firm in an all-cash deal worth $9.2 billion to expand its reach in antiviral treatments.
This is why Merck is buying Cidara Therapeutics for $9.2 billion, and why Wall Street is happy
Merck is facing a patent cliff for Keytruda and upheaval in the market for Gardasil.
Cidara Therapeutics, Inc. Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| CCP Christopher C. Powers Farther Finance Advisors, LLC | 19 | $3,571.53 | $1,820.2 | -$1,751.33 | -49.04% |
| AM Ashley Meredith Abel Hall, LLC | 1,069 | $236,131 | $236,131.41 | - | - |
| AAS ABC Arbitrage SA ABC Arbitrage SA | 29,894 | $6.6M | $6.6M | - | - |
| CAL Caxton Associates LLP Caxton Associates LLP | 68,821 | $15.2M | $15.2M | - | - |
| YML Yuen Man Lee Persistent Asset Partners Ltd. | 4,704 | $1.04M | $1.04M | - | - |
Cidara Therapeutics, Inc. (CDTX) FAQ
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Cidara Therapeutics, Inc. Profile
| Biotechnology Industry | Healthcare Sector | Jeffrey L. Stein CEO | NASDAQ (CM) Exchange | 171757206 CUSIP |
| US Country | 38 Employees | - Last Dividend | 24 Apr 2024 Last Split | 15 Apr 2015 IPO Date |
Overview
Cidara Therapeutics, Inc. is a pioneering biotechnology firm based in San Diego, California, focusing on the discovery, development, and commercialization of innovative long-acting anti-infectives for the treatment and prevention of various infectious diseases and in the field of oncology. Originally known as K2 Therapeutics, Inc., the company underwent a name change to Cidara Therapeutics, Inc. in July 2014, having been incorporated in 2012. Their work is primarily rooted in the United States, where they aim to address the critical need for new medications in the battle against infectious diseases associated with high mortality rates.
Products and Services
- Rezafungin Acetate
A leading product candidate from Cidara Therapeutics, Rezafungin Acetate, represents a new molecule within the echinocandin class of antifungals. This novel therapeutic is in development for the treatment and prevention of invasive fungal infections, specifically candidemia and invasive candidiasis. These conditions are particularly notorious for their high mortality rates, underlining the importance of Rezafungin's role in healthcare.
- Cloudbreak Platform
Cidara is advancing its proprietary Cloudbreak platform to develop a range of conjugates aimed at the prevention and treatment of influenza and other significant viral infections. These include but are not limited to:
- Respiratory Syncytial Virus (RSV)
- Human Immunodeficiency Virus (HIV)
- The SARS-CoV-2 viruses responsible for COVID-19
