Cidara Therapeutics, Inc. (CDTX) experiences a decrease of 10.16% in the aftermarket because CDTX Announces Commencement of Concurrent Public Offerings of Common Stock and Preferred Stock. However, the last trading session concluded at $1.87 with a decline of 1.58%.
CDTX Announces Commencement of Concurrent Public Offerings
On 7th October 2021, CDTX announced that simultaneous but separate underwritten public offers of its ordinary shares and Series X Convertible Preferred Stock had started. Cidara also plans to provide the underwriters a 30-day option to acquire additional shares of its common stock. Each planned offering’s completion is not reliant on the completion of the others. The offers are subject to market circumstances. Also, there is no guarantee that either or both of the offerings will be completed, or that the exact amount or terms of the offerings will be met.
CDTX announces New Data for Rezafungin at TIMM Congress
CDTX reported New Data for Rezafungin at TIMM Congress on 29th September 2021. The company stated that it would introduce unique data in two poster presentations at the 10th Congress on Trends in Medical Mycology. Rezafungin is a once-weekly echinocandin that is now being tested in Phase 3 studies. Cidara plans to release top-line results from its Phase 3 ReSTORE study by the end of 2021. It will also file a New Drug Application (NDA) in the United States and comparable regulatory filings outside of the United States in mid-2022.
New Data for Rezafungin at IDWeek 2021
CDTX presented new data for Rezafungin at IDWeek 2021 on 27th September 2021. The company stated that it will present new clinical and non-clinical data in patients with hepatic impairment in poster presentations at IDWeek 2021.
Rezafungin is a once-weekly echinocandin that is tested in Phase 3 studies for the control and diagnosis of severe fungal infections. Cidara plans to release top-line results from its Phase 3 ReSTORE study by the end of 2021. It is also working to file a New Drug Application (NDA) in the United States and comparable regulatory filings outside of the United States in mid-2022.
CDTX makes new appointments
CDTX announced some new appointments in the company on 1st September 2021. Preetam Shah is the new chief financial officer and chief business officer. While Shane Ward is the chief legal officer and corporate secretary. Dr. Shah previously worked for Brainstorm Cell Therapeutics, Inc. as executive vice president, chief financial officer, and treasurer. Moreover, Dr. Shah worked as an investment banker for over six years, advising healthcare businesses on equity, debt, and M&A transactions. He also held top positions at major institutions such as Barclays Capital PLC and Canaccord Genuity Inc. before joining Brainstorm.
Also, Mr. Ward formerly worked at Bellicum Pharmaceuticals Inc. as a general attorney and chief legal and strategy officer before entering CDTX. In addition, he discovered and developed controlled CAR-T and CAR-NK prospects. He was in charge of project and alliance management, healthcare compliance, and all other legal matters at Bellicum. Mr. Ward also oversaw and prepared the legal teams for the future commercialization of fusion protein therapies.
