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Cidara Therapeutics (CDTX) has provided an update.
In a strategic move on April 24, 2024, a company sold its entire rezafungin acetate portfolio to NAPP Pharmaceutical Group Limited, incorporating rights to future milestones and royalties, intellectual property, and regulatory documentation. The deal also transferred associated liabilities to NAPP, including costs of ongoing clinical trials. Additionally, the company amended its existing agreements to facilitate the asset transfer and secured a financial concession from Mundipharma, contingent on fulfilling certain post-closure obligations. This significant transaction marks a reshaping of the company’s business focus away from echinocandin antifungal products.
For detailed information about CDTX stock, go to TipRanks’ Stock Analysis page.
