Cidara Therapeutics Secures Major Funding for COVID-19 Vaccine

Author: Addison Perry Updated: 10-03-2025 01:00 PM

Cidara Therapeutics Boosts Stock with Major Funding Announcement

Cidara Therapeutics, Inc. (NASDAQ: CDTX) has recently seen a notable increase in its stock price, thanks to the announcement of securing $339 million in funding from the Biomedical Advanced Research and Development Authority (BARDA). This financial boost is aimed at advancing their CD388 pandemic influenza therapeutic and enhancing manufacturing capabilities in the U.S.

Understanding the Funding Agreement

The BARDA agreement comprises $58 million in base funding that will be allocated over the next 24 months. This portion is specifically designated to facilitate the onshoring of CD388 manufacturing, allowing the company to conduct a clinical trial. The trial will focus on comparing higher-concentration formulations, testing various presentations, and assessing efficacy in non-clinical models. Additionally, they will begin to develop protocols for broader population treatment.

Potential for Additional Funding

Opportunity periods detailed in the agreement suggest that Cidara could access an extra $281 million if certain conditions are met. This funding would not only support expanded clinical and non-clinical studies but also aid in the potential submission of a Biologics License Application to the U.S. Food and Drug Administration.

Stock Performance Overview

As of the latest updates, Cidara’s shares are trading approximately 5.58% higher, valued at $104.00 per share. This increase reflects investor confidence following the funding news. Market analysts suggest that this is a significant development for the company as it ramps up efforts on its therapeutic developments.

Future Prospects for Cidara Therapeutics

The implications of this funding for Cidara Therapeutics are substantial. With substantial government backing, the company is in a strong position to enhance its research and development capabilities. The focus on pandemic influenza therapeutic positions Cidara at the forefront of addressing significant public health issues, particularly as global health continues to adapt to various viral threats.

Frequently Asked Questions

What is the primary purpose of the BARDA funding?

The BARDA funding is aimed primarily at advancing Cidara’s CD388 pandemic influenza therapeutic and enhancing domestic manufacturing capabilities.

How much funding has Cidara secured in total?

Cidara has secured a total of $339 million, which includes base funding and potential additional funding based on agreement terms.

What does the future hold for Cidara Therapeutics?

The future looks promising for Cidara as they have a significant financial backing to support their research and potential pathways toward FDA approval.

How has the market reacted to this funding news?

The market reacted positively, with Cidara shares increasing in value as investor confidence grows in the company's ability to execute its plans.

What is CD388 and why is it important?

CD388 is Cidara’s pandemic influenza therapeutic which aims to provide enhanced treatment options during health crises, making it vital for public health initiatives.

About The Author

Hello, I'm 30-year-old financial writer and expert Addison Perry, and I love to simplify the intricacies of the financial industry. I've committed myself over the years to deciphering the subtleties of investing techniques and economic trends and converting them into doable guidance that anybody can use. My goal with writings and books is to make money interesting and approachable so that readers may take charge of their financial futures.

My enthusiasm to empowerment and education has propelled me through my career in finance. I write because I think that everyone should be able to make educated financial decisions, and I try to provide that. Regardless of experience level with investing, my work is intended to provide insightful analysis and practical advice to enable you to thrive in the always changing financial environment. I appreciate you traveling with me toward success and financial literacy.

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