Cidara Therapeutics (CDTX) has shared an announcement.
On April 23, 2024, a pivotal shift occurred as the Company finalized a license and technology transfer agreement with Janssen Pharmaceuticals for their Cloudbreak® platform-based Influenza Program, after previously collaborating in 2021. This new agreement handed the Company the reins for future development and commercialization of influenza drug-Fc conjugates, including their leading compound, CD388. On the same day, the Company also successfully issued Series A Convertible Voting Preferred Stock in a $240 million private placement to institutional and accredited investors, leading to significant board restructuring with the resignation of two directors and the appointment of three new ones. These strategic moves underscore the Company’s commitment to advancing its influenza treatments and strengthening its financial and governance foundations.
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