BTIG Expects More Visibility for Cidara Therapeutics' (CDTX) CD101 Soon; Affirms at 'Buy'
- Wall Street opens flat as investors assess earnings
- General Motors (GM) Tops Q3 EPS by 28c
- Procter & Gamble (PG) Tops Q1 EPS by 5c
- DuPont (DD) Tops Q3 EPS by 14c; Boosts FY16 EPS Outlook; Says Continuing to Work with Regulators
- Pre-Open Stock Movers 10/25: (SAEX) (CWEI) (SWFT) Higher; (DPRX) (CRBP) (UA) Lower (more...)
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
BTIG affirms Cidara Therapeutics, Inc. (Nasdaq: CDTX) at Buy with a price target of $24 following recent quarterly results and CD101 update.
Analyst Timothy Chiang commented,
We expect more visibility on the Co.’s novel echinocandin (antifungal) product candidate, CD101, by early 2017 when results from its Phase 2 trial (RADIANT) studying its topical formulation in acute vulvovaginal candidiasis (yeast infections) are expected to be released. In addition, the Co. is enrolling patients with its IV formulation in candidemia in a separate Phase 2 trial (STRIVE), which is expected to read out in 2H17. We remain positive on CDTX shares and believe the Co.’s seasoned management team, led by CEO Jeffrey Stein, is on track to deliver meaningful clinical data in 2017 to support its lead product candidate (CD101). For CY16 and CY17, we forecast losses per share of ($3.41) and ($3.23), respectively. With ~$87M of cash on the balance sheet as of the end of 2Q, we think the Co. has ample cash to fund its development plans for the next 9-12 months.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Cantor Fitzgerald Defends Corbus Pharmaceuticals (CRBP) Following Short Report
- Jefferies Raises Price Target on Rambus (RMBS) Following 3Q Report
- UBS Raises Price Target on Zions Bancorp (ZION) to $29 Following 3Q EPS Beat
Create E-mail Alert Related CategoriesAnalyst Comments, FDA
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!