Cidara Therapeutics, Inc.: insider trades · United States · SEC (Form 4)

About Cidara Therapeutics, Inc.

Cidara Therapeutics, Inc. is a U.S.-based biotechnology company listed on the NASDAQ Global Market under the ticker CDTX in the United States. The company is headquartered in San Diego, California. Founded in 2012, it was originally incorporated in Delaware as K2 Therapeutics, Inc. and later changed its name to Cidara Therapeutics, Inc. in 2014. Cidara’s strategy is centered on its proprietary Cloudbreak® platform, which is designed to create drug-Fc conjugate (DFC) therapeutics aimed at serious diseases, with a particular emphasis on infectious disease and antiviral prevention. ([cidara.com](https://www.cidara.com/investors/info/?utm_source=openai)) From a business perspective, Cidara has historically worked on several product candidates, but its most advanced program is CD388, a highly potent antiviral being developed as a universal preventive therapy for seasonal and pandemic influenza. CD388 has progressed through multiple clinical stages, including two Phase 1 studies and an earlier Phase 2a study, and in 2025 the company initiated the global Phase 3 ANCHOR trial. This makes CD388 the central value driver in the investment case and the main source of long-term upside, while also highlighting the binary nature of biotech development risk. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1610618/000161061825000096/cdtx-20250930.htm?utm_source=openai)) Cidara’s competitive position is that of a specialized, innovation-driven biotech rather than a diversified commercial pharmaceutical company. Its differentiation lies in the Cloudbreak platform and in its focus on infectious diseases, where prevention and treatment options remain limited relative to the scale of unmet need. The company previously marketed REZZAYO® (rezafungin) in the United States for candidemia and invasive candidiasis, but in 2024 it sold its rezafungin assets and related contracts to Napp, an affiliate of Mundipharma, effectively narrowing its portfolio and concentrating resources on CD388. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1610618/000161061825000096/cdtx-20250930.htm?utm_source=openai)) Recent company-specific developments have been material. In September 2025, Cidara entered into a BARDA agreement to support expanded manufacturing and clinical development of CD388, including U.S. onshoring of manufacturing and additional clinical work, with potential total BARDA investment of up to $339.2 million. That same period, the company’s profile gained further strategic visibility when Merck announced a definitive agreement to acquire Cidara for $221.50 per share in cash, implying a transaction value of approximately $9.2 billion. For investors, Cidara combines platform science, late-stage clinical execution and major M&A optionality, but it remains a high-risk biotech dependent on regulatory, clinical and integration outcomes. ([sec.gov](https://www.sec.gov/Archives/edgar/data/0001610618/000161061825000089/cdtx-20250930.htm?utm_source=openai))