Cidara raises $76.8M in bumped-up IPO

Anti-infective play Cidara Therapeutics Inc. (NASDAQ:CDTX) was unchanged at $16 in its first day of trading on Wednesday after raising $76.8 million in an IPO through the sale of 4.8 million shares at $16. The offering price valued the company at $215.9 million. Jefferies; Leerink; Wedbush PacGrow; Needham; and BTIG were underwriters.

Cidara originally filed to raise up to $69 million. Earlier this month, it proposed to sell 4 million shares at $14-$16. ...