- Cidara Therapeutics (CDTX, Financial) successfully raises $402.5 million through an upsized public offering.
- The offering included a full exercise of the underwriters' option to purchase additional shares.
- Managed by top-tier investment banks, the offering demonstrates confidence in Cidara's business strategy.
Cidara Therapeutics, Inc. (CDTX), a biotechnology company leveraging its proprietary Cloudbreak® platform, has announced the completion of its upsized public offering. The company successfully raised $402.5 million in gross proceeds through this offering, which included 9,147,727 shares sold at $44.00 per share. The offering also saw the full exercise of the underwriters' option to purchase an additional 1,193,181 shares, showcasing strong investor interest.
The offering was managed by eminent financial institutions including J.P. Morgan, Morgan Stanley, Guggenheim Securities, and Cantor, acting as joint book-running managers. This underscores significant institutional confidence in Cidara’s technological capabilities and strategic direction.
The funds raised are anticipated to significantly bolster Cidara’s development of its Cloudbreak® platform and drug-Fc conjugate (DFC) pipeline, positioning the company favorably for ongoing and future clinical trials. This capital infusion will provide Cidara with a substantial operational runway, enabling it to focus on advancing multiple drug candidates and achieving critical scientific milestones while alleviating immediate financial constraints.
This strategic financial move aligns with Cidara’s shelf registration activated in May 2025 and represents an efficient execution of capital market strategies. It emphasizes the company's commitment to advancing innovative therapeutic solutions across various domains including antiviral and oncology treatment fields.
