Download PDF

1. Company Snapshot

1.a. Company Description

Cidara Therapeutics, Inc., a biotechnology company, focuses on the discovery, development, and commercialization of long-acting anti-infectives for the treatment and prevention of infectious diseases and oncology in the United States.The company's lead product candidate is rezafungin acetate, a novel molecule in the echinocandin class of antifungals for the treatment and prevention of invasive fungal infections, including candidemia and invasive candidiasis, which are fungal infections associated with high mortality rates.It also advances its Cloudbreak platform to develop conjugates for the prevention and treatment of influenza and other viral infections, such as RSV, HIV, and the SARS-CoV-2 strains causing COVID-19.


The company was formerly known as K2 Therapeutics, Inc.and changed its name to Cidara Therapeutics, Inc.in July 2014.


Cidara Therapeutics, Inc.was incorporated in 2012 and is based in San Diego, California.

Show Full description

1.b. Last Insights on CDTX

Cidara Therapeutics' recent positive momentum is driven by several key developments. The company's appointment of Frank Karbe as Chief Financial Officer brings over 25 years of leadership experience in the biopharma industry, which is expected to guide the company's transition from R&D to commercialization. Additionally, Cidara's Cloudbreak platform is gaining traction, particularly with its CD388 candidate, which has received FDA's Fast Track designation for universal influenza prophylaxis. The company's Phase 2b trial, which has enrolled 5,000 subjects, is expected to provide valuable insights into CD388's safety and efficacy.

1.c. Company Highlights

2. Cidara Therapeutics' Q3 Earnings: CD388 Progression and Financial Performance

Cidara Therapeutics reported a loss per share of -$1.43, wider than the estimated loss of -$1.19. The company's revenue stood at $0, indicating a significant decline. The company's financial performance was largely driven by its research and development expenses related to its lead candidate, CD388. Analysts estimate next year's revenue growth to be -86.2%, indicating a significant decline in revenue. The company's current valuation metrics show a P/E Ratio of -32.05, P/B Ratio of 14.02, and EV/EBITDA of -27.33, suggesting that the market has high expectations from the company's future performance.

Publication Date: Nov -25

📋 Highlights
  • Phase III ANCHOR Trial Acceleration:: Started six months earlier than planned, on track to enroll 5,000 participants by December 2025 for Northern Hemisphere.
  • CD388 Breakthrough Designation:: FDA granted Breakthrough Therapy and Fast Track status, supported by Phase IIb data showing 450mg dose sustained therapeutic levels for full flu season.
  • BARDA Funding:: Secured $339M in funding to support CD388 development, including expanded manufacturing and clinical trials.
  • Manufacturing Capacity:: WuXi to produce 5M doses/year at 450mg dose level, with CMC process characterization delaying BLA filing to 2027.
  • Interim Analysis Plan:: Late Q1 2026 review to assess trial size and event rates, potentially avoiding Southern Hemisphere enrollment if Northern Hemisphere enrollment suffices.

CD388 Development Progress

The company's lead candidate, CD388, has made significant progress, with the Phase III ANCHOR trial initiated six months ahead of schedule. The trial is evaluating the safety and efficacy of CD388 in populations at high risk for complications from influenza. The company has also received breakthrough therapy designation from the FDA, recognizing the preliminary clinical evidence of substantial improvement over existing options. As per Dr. Nicole Davarpanah, the Chief Medical Officer, the interim analysis will be conducted in late Q1 2026 to assess the trial size, powering assumptions, and event rate.

Manufacturing and Commercialization

Cidara Therapeutics has secured funding from BARDA to support the development of CD388, with an award valued up to $339 million. The company is also working on expanding its manufacturing capabilities, with an initial scale at WuXi providing for around 5 million doses per year at the 450-milligram dose level. The rate-limiting effect within CMC is the process characterization and PPQ activities necessary for BLA readiness. The company is transitioning from a clinical trial formulation to a commercial configuration, which is rate-limiting and impacting the BLA filing timeline.

Future Plans and Expectations

The company is expected to host a virtual R&D Day on December 15 to provide a detailed update on the CD388 program, including enrollment progress and insights from recent market research on the commercial opportunity for CD388. The company is also planning to evaluate CD388 in pandemic strains, including H5N1, and is working with Richard Webby's lab at St. Jude's Hospital on in vitro studies. The company's current cash position and funding from BARDA are expected to support its development plans.

3. NewsRoom

Card image cap

3 Potential Mid-Cap Biotech Buyout Targets In 2026

Dec -03

Source: seekingalpha.com

Card image cap

Geode Capital Management LLC Grows Stock Position in Cidara Therapeutics, Inc. $CDTX

Dec -01

Source: defenseworld.net

Card image cap

Halper Sadeh LLC Encourages GIFI, MOVE, RMBI, CDTX Shareholders to Contact the Firm to Discuss Their Rights

Nov -28

Source: prnewswire.com

Card image cap

HAPPY THANKSGIVING AND ALERT: The M&A Class Action Firm Continues to Investigate the Merger – EXAS, SEE, CDTX, and MRSN

Nov -27

Source: globenewswire.com

Card image cap

hVIVO gains validation from Cidara's takeover; broker calls it a "glowing endorsement"

Nov -27

Source: proactiveinvestors.co.uk

Card image cap

hVIVO hails $9.2 billion Cidara takeover after key trial wins

Nov -27

Source: proactiveinvestors.co.uk

Card image cap

Cidara Therapeutics Reaches Target Enrollment of Phase 3 ANCHOR Trial Evaluating CD388 for Prevention of Seasonal Influenza in High-Risk Populations

Nov -24

Source: globenewswire.com

Card image cap

SHAREHOLDER ALERT: The M&A Class Action Firm Continues to Investigate the Mergers-NUVSF, NDTAF, THS, and CDTX

Nov -21

Source: prnewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (9.27%)

6. Segments

Antifungal and Antiviral Drugs

Expected Growth: 9.27%

Cidara Therapeutics' Antifungal and Antiviral Drugs segment growth is driven by increasing demand for novel treatments, rising fungal and viral infections, and growing awareness of antifungal resistance. Strong pipeline, strategic partnerships, and expanding R&D investments also contribute to the 9.27% growth.

7. Detailed Products

CD388

CD388 is a novel, intravenously administered echinocandin, a class of antifungal drugs, being developed for the treatment of invasive fungal infections.

CD101

CD101 is a novel, topical echinocandin, being developed for the treatment of vulvovaginal candidiasis (VVC), a common and recurring fungal infection in women.

8. Cidara Therapeutics, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Cidara Therapeutics, Inc. operates in a niche market with limited substitutes, but the threat of substitutes is still present due to the ongoing research and development in the biotechnology industry.

Bargaining Power Of Customers

Cidara Therapeutics, Inc. has a diverse customer base, which reduces the bargaining power of individual customers. Additionally, the company's products are specialized, making it difficult for customers to switch to alternative suppliers.

Bargaining Power Of Suppliers

Cidara Therapeutics, Inc. relies on a few key suppliers for raw materials and services. While the company has some bargaining power due to its size, the suppliers also have some leverage due to the specialized nature of the products.

Threat Of New Entrants

The biotechnology industry has high barriers to entry, including significant capital requirements, complex regulatory requirements, and the need for specialized expertise. This makes it difficult for new entrants to enter the market.

Intensity Of Rivalry

The biotechnology industry is highly competitive, with many established players and new entrants vying for market share. Cidara Therapeutics, Inc. faces intense competition from other companies developing similar products.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight -146.32%
Debt Cost 3.95%
Equity Weight 246.32%
Equity Cost 9.48%
WACC 17.58%
Leverage -59.40%

11. Quality Control: Cidara Therapeutics, Inc. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Cidara Therapeutics

A-Score: 4.2/10

Value: 6.8

Growth: 3.2

Quality: 5.4

Yield: 0.0

Momentum: 10.0

Volatility: 0.0

1-Year Total Return ->

View Full Report
Stock-Card
Arcturus Therapeutics

A-Score: 4.2/10

Value: 8.4

Growth: 6.3

Quality: 4.2

Yield: 0.0

Momentum: 5.0

Volatility: 1.0

1-Year Total Return ->

View Full Report
Stock-Card
ImmuCell

A-Score: 4.2/10

Value: 4.6

Growth: 3.0

Quality: 4.7

Yield: 0.0

Momentum: 10.0

Volatility: 2.7

1-Year Total Return ->

View Full Report
Stock-Card
Zevra Therapeutics

A-Score: 3.9/10

Value: 4.6

Growth: 4.0

Quality: 5.8

Yield: 0.0

Momentum: 6.5

Volatility: 2.3

1-Year Total Return ->

View Full Report
Stock-Card
Verrica Pharmaceuticals

A-Score: 3.4/10

Value: 9.0

Growth: 3.7

Quality: 6.0

Yield: 0.0

Momentum: 0.5

Volatility: 1.0

1-Year Total Return ->

View Full Report
Stock-Card
Orgenesis

A-Score: 2.9/10

Value: 7.7

Growth: 4.2

Quality: 5.8

Yield: 0.0

Momentum: 0.0

Volatility: 0.0

1-Year Total Return ->

View Full Report

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

220.36$

Current Price

220.36$

Potential

-0.00%

Expected Cash-Flows