SAN DIEGO, April 15, 2015 (GLOBE NEWSWIRE) -- Cidara Therapeutics, Inc. (Nasdaq: CDTX ), a biotechnology company developing novel anti-infectives and immunotherapies to treat fungal and other infections, today announced the pricing of its initial public offering of 4,800,000 shares of common stock, an increase of 800,000 shares from the number of shares originally offered, at a public offering price of $16.00 per share. The shares are expected to begin trading on the NASDAQ Global Market today (April 15, 2015) under the ticker symbol "CDTX." In addition, Cidara has granted the underwriters a 30-day option to purchase up to an additional 720,000 shares of common stock at the initial public offering price.
Jefferies LLC and Leerink Partners LLC are acting as joint book-running managers for the offering. Wedbush PacGrow is acting as lead manager and Needham & Company LLC and BTIG, LLC are acting as co-managers.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on April 14, 2015. The offering will be made only by means of a prospectus, copies of which may be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, telephone: (877) 547-6340, email: Prospectus_Department@Jefferies.com, or from Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, or by email at syndicate@leerink.com, or by phone at (800) 808-7525, ext. 6142.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Cidara Therapeutics
Cidara is a biotechnology company focused on the discovery, development and commercialization of novel anti-infectives for the treatment of diseases that are inadequately addressed by current standard-of-care therapies. Cidara's initial portfolio is comprised of a long-acting echinocandin antifungal product candidate, CD101 IV, and CD101 topical, for the treatment of serious fungal infections. In addition, Cidara has developed a proprietary immunotherapy platform, Cloudbreak™, designed to create compounds that direct a patient's immune cells to attack and eliminate pathogens that cause infectious disease. Cidara is headquartered in San Diego, California.
INVESTOR CONTACT: Robert H. Uhl Westwicke Partners, LLC Managing Director (858) 356-5932 MEDIA CONTACT: Mike Beyer Sam Brown Inc. (312) 961-2502
