Cidara Therapeutics (CDTX) Company Report

Monteverde & Associates PC is investigating the sale of Cidara Therapeutics, Inc. (NASDAQ:CDTX) to Merck Sharp & Dohme LLC.
Under the terms of the proposed transaction, Cidara shareholders are expected to receive $221.50 per share in cash.

Nov 21, 2025, 10:30 PM

Press Release

Merck & Co. announces acquisition of Cidara Therapeutics

CDTX

M&A

New Projects/Investments

Merck & Co. announced the acquisition of Cidara Therapeutics for approximately $920 million, or $21.50 per share.
The acquisition is centered on CD388, an investigational first-in-class long-acting antiviral agent designed to prevent influenza infection, which is currently in a phase III trial and has received FDA fast-track and breakthrough therapy designations.
Merck projects a non-risk-adjusted commercial opportunity for CD388 of greater than $5 billion, expecting it to be a significant growth driver beginning later this decade.
The transaction is anticipated to close in Q1 2026 and will be financed primarily through new debt and commercial paper issuance.
Merck expects the acquisition to result in a charge of approximately $9 billion to next year's research and development expense and a negative impact of approximately $0.30 on EPS in the first 12 months.

Nov 17, 2025, 1:00 PM

Transcript

Merck & Co. Announces Acquisition of Cidara Therapeutics

CDTX

M&A

New Projects/Investments

Merck & Co. announced the acquisition of Cidara Therapeutics for a total transaction value of approximately $920 million, or $21.50 per share.
The acquisition focuses on CD388, an investigational first-in-class, long-acting antiviral agent designed to prevent influenza infection in individuals at higher risk of complications.
The transaction is expected to close in the first quarter of 2026 and will result in a charge of approximately $9 billion to research and development expense, negatively impacting EPS by approximately $0.30 in the first 12 months post-closing.
CD388 is currently being evaluated in a Phase 3 trial and is projected to have a non-risk-adjusted commercial opportunity greater than $5 billion.

Nov 17, 2025, 1:00 PM

Transcript

Merck & Co. announces acquisition of Cidara Therapeutics

CDTX

M&A

New Projects/Investments

Product Launch

Merck & Co. announced the acquisition of Cidara Therapeutics for $21.50 per share, totaling approximately $920 million.
The acquisition focuses on CD388, an investigational first-in-class, long-acting antiviral agent designed to prevent influenza infection in individuals at higher risk, which is currently being evaluated in a Phase 3 trial.
Merck projects a greater than $5 billion non-risk-adjusted commercial opportunity for CD388.
The transaction is expected to close in Q1 2026 and will result in a ~$9 billion R&D expense charge (approximately $3.65 per share) and a negative impact of approximately $0.30 on EPS in the first 12 months.

Nov 17, 2025, 1:00 PM

Transcript

Merck & Co., Inc. to Acquire Cidara Therapeutics

CDTX

M&A

New Projects/Investments

Debt Issuance

Merck & Co., Inc. has agreed to acquire Cidara Therapeutics for $221.50 per share, representing a total transaction value of approximately $9.2 billion.
The acquisition is primarily driven by CD388, an innovative first-in-class investigational long-acting antiviral designed to prevent influenza infection, which Merck anticipates has a potential >$5 billion non-risk adjusted peak commercial opportunity.
The transaction is expected to close in 1Q 2026, subject to shareholder and regulatory approvals, and will be financed primarily through new debt and commercial paper issuance.
Merck projects the acquisition will increase 2026 research and development expense by ~$9.0 billion (or ~$3.65 per share) and negatively impact non-GAAP EPS by ~$0.30 in the first 12 months post-closing.

Nov 17, 2025, 1:00 PM

Presentation

Cidara Therapeutics to be Acquired by Merck

CDTX

M&A

Takeover Bid

New Projects/Investments

Merck, through a subsidiary, announced its intent to acquire Cidara Therapeutics, Inc. for $221.50 per common share in cash, representing a total transaction value of approximately $9.2 billion.
The acquisition aims to diversify Merck's portfolio with Cidara's lead candidate, CD388, an investigational Phase 3 long-acting antiviral agent for influenza prevention, which holds Breakthrough Therapy Designation from the FDA.
The transaction, approved by both companies' Boards, is structured as a cash tender offer and is anticipated to close in the first quarter of 2026, pending stockholder tender and regulatory approvals.

Nov 14, 2025, 1:16 PM

8-K

Cidara Therapeutics Provides Update on CD388 Universal Influenza Preventative Development

CDTX

New Projects/Investments

Guidance Update

Cidara Therapeutics' CD388, a universal influenza preventative, successfully completed its Phase 2b Navigate study with a 76.1% efficacy rate and a P-value of less than 0.0001 versus placebo, announced earlier this year.
The company initiated a 6,000-participant Phase 3 trial for CD388 at the end of September, targeting high-risk comorbid, immunocompromised, and over 65 populations, with enrollment expected to complete by December 2025.
An interim analysis for the Phase 3 study is expected by the end of March 2026, which will inform if the study is adequately powered for top-line efficacy data in June 2026 or if additional participants are needed.
Cidara anticipates a commercial opportunity for CD388 in over 100 million patients, including 50 million high-risk patients and another 100 million at increased risk per CDC guidelines.
The company is preparing to have multiple millions of doses ready at launch and recently secured an initial $58 million BARDA contract to onshore manufacturing and establish a parallel supply chain within the U.S..

Nov 11, 2025, 1:00 PM

Transcript

Cidara Therapeutics Provides Update on CD388 Phase 3 Program and Commercial Preparations

CDTX

New Projects/Investments

Product Launch

Guidance Update

Cidara Therapeutics is advancing CD388, a universal influenza preventative, through a Phase 3 clinical program.
The 6,000-participant Phase 3 trial for CD388, initiated in late September, is expected to complete enrollment by December 2025, with an interim analysis by March 2026 and potential top-line efficacy data by June 2026.
CD388 previously demonstrated 76.1% efficacy in its Phase 2b study and is anticipated to target over 100 million eligible patients.
The company is preparing for commercial supply with multiple millions of doses and secured a $58 million BARDA contract to establish U.S. manufacturing.

Nov 11, 2025, 1:00 PM

Transcript

Cidara Therapeutics Advances Universal Influenza Preventative CD388 into Phase III

CDTX

New Projects/Investments

Product Launch

Guidance Update

Cidara Therapeutics' universal influenza preventative, CD388, demonstrated 76.1% efficacy with a P-value of less than 0.0001 versus placebo in its Phase II-B NAVIGATE study.
The company initiated a 6,000-participant Phase III trial for CD388 in high-risk populations in September 2025, expecting to complete enrollment by December 2025, with an interim analysis by the end of March 2026 and potential top-line efficacy data in June 2026.
Cidara regained full rights to CD388 in April 2024 after raising $240 million and is now well-capitalized to fund the entire Phase III program.
The company projects a market opportunity of over 100 million eligible patients for CD388 and is preparing to have multiple millions of doses ready at launch, further supported by a $58 million BARDA contract to establish a parallel U.S. supply chain.

Nov 11, 2025, 1:00 PM

Transcript

Cidara Therapeutics Provides Q3 2025 Business Update and CD388 Development Progress

CDTX

New Projects/Investments

Guidance Update

Cidara Therapeutics' lead candidate, CD388, has advanced into Phase 3 development ahead of schedule, with the trial over 50% enrolled and on track for Northern Hemisphere completion by December. The company also received Breakthrough Therapy Designation from the FDA for CD388.
Cidara secured an award of up to $339 million from BARDA to support expanded manufacturing and clinical development of CD388, with $58 million allocated for the initial 24 months.
The company reported a strong financial position with approximately $476 million in cash as of September 30, 2025, which fully funds the Phase 3 development program. Manufacturing scale-up is underway, targeting an initial capacity of 5 million doses per year and a 2027 BLA filing.
Cidara plans to host a virtual R&D day on December 15th to provide further updates on the CD388 program and commercial opportunity.

Nov 6, 2025, 10:00 PM

Transcript

Earnings Transcripts

Quarterly earnings call transcripts for Cidara Therapeutics.

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