Cidara Therapeutics (CDTX) IPO Prices at $16, Top End of Range
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Cidara Therapeutics (NASDAQ: CDTX) 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 top end of the expected $14-$16 range. The size of the offering was raised from 4,000,000 shares. The shares are expected to begin trading on the NASDAQ Global Market today (April 15, 2015) under the ticker symbol "CDTX."
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.
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.
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