Cidara Therapeutics (CDTX) to Offer Common Stock

October 6, 2016 4:02 PM EDT
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Cidara Therapeutics, Inc. (Nasdaq: CDTX), a biotechnology company developing novel anti-infectives including immunotherapies, today announced that it has commenced an underwritten public offering of its common stock. Cidara also expects to grant the underwriter of the offering a 30-day option to purchase additional shares of its common stock at the public offering price. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering will be completed, or as to the actual size or terms of the offering.

Cidara anticipates using the net proceeds from the offering to fund research and development activities for its development programs, including, but not limited to, the clinical development of CD101 IV and CD101 Topical antifungal programs, the completion of IND enabling studies of the Cloudbreak antibacterial development candidate CD201, for further expansion of the Cloudbreak discovery platform and for working capital and general corporate purposes.

Cantor Fitzgerald & Co. is acting as the sole book-running manager for the offering.

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