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Cidara Therapeutics Inc. (NASDAQ:CDTX) shares are trending on Friday.
Check out the current price of CDTX stock here.
CDTX surged 42.23% in after-hours trading on Thursday, closing at $150.75.
A Schedule 13D Amendment No. 4 filed Nov. 10 showed that RA Capital Management L.P., along with Peter Kolchinsky and Rajeev Shah, each reported beneficial ownership of 3.37 million shares of biotechnology company Cidara Therapeutics, representing 10.7% of the 31.43 million shares outstanding as of Nov. 3.
RA Capital Healthcare Fund, L.P. directly holds 3.36 million shares.
The filing explicitly stated it was submitted “to report the dilution of the Reporting Persons’ beneficial ownership in the Issuer’s common stock and not as a result of any acquisition or disposition of securities.”
CEO Jeffrey Stein announced the ANCHOR study has surpassed 50% enrollment and aims to reach 6,000 participants by December. According to a Nov. 6 company press release, the company noted that the Food and Drug Administration (FDA) expanded the study to include healthy adults over 65, more than doubling the potential U.S. patient pool from about 50 million to over 100 million.
With an interim analysis scheduled for first quarter of 2026, the study is currently accepting participants from 150 sites across the Northern Hemisphere, including the United States and the United Kingdom.
CD388 received Breakthrough Therapy designation from the FDA after the Phase 2b NAVIGATE study met all primary and secondary endpoints.
The Biomedical Advanced Research and Development Authority awarded Cidara up to $339.2 million, including $58.1 million in base funding over 24 months to support U.S. manufacturing onshoring.
As of September 30, Cidara reported $476.5 million in cash and investments, up from $196.2 million at the end of 2024. Due to $45.0 million in acquired IPR&D expenses associated with a milestone under the Janssen License Agreement and $35.5 million in R&D expenses, the company reported a net loss of $83.2 million for the third quarter, down from $16.0 million in the same period last year.
The California-based company's shares have skyrocketed over the past year, jumping 631.98%, with gains of 448.9% over the last six months and 288.2% year to date. After this rapid surge, the stock has eased slightly, dropping 4.2% over the past month.
Cidara Therapeutics' stock has traded between $13.82 and $121.21 over the past 12 months and has a market capitalization of $3.33 billion.
Price Action: CDTX closed Thursday at $105.99, down $1.13, or 1.05%, according to Benzinga Pro data.
With a strong Momentum in the 99th percentile, Benzinga’s Edge Stock Rankings indicate that CDTX has a positive price trend across all time frames. Know how its momentum lines up with other well-known names.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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