RBC Capital analyst Gregory Renza initiated coverage of Cidara Therapeutics (CDTX) with an Outperform rating and $34 price target The firm sees the commercial potential for CD388, an innovative therapeutic class based on Cidara’s Cloudbreak platform. The unique mechanism of action of CD388 could provide universal protection against broad influenza viruses and throughout the flu season, the analyst tells investors in a research note. RBC believes “there is currently room” for new flu prevention innovations, and its projections estimate that CD388 could achieve global peak revenues of $1.1B by 2033.
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