Public equity report: Cidara resets with $240M PIPE

A syndicate led by RA Capital Management is supplying $240 million to Cidara as the biotech marshals its resources around an influenza program to which it has reobtained full rights in a deal with J&J.

Cidara Therapeutics Inc. (NASDAQ:CDTX) has now positioned CD388, a drug-Fc conjugate for influenza A and B, as its lead program, with a Phase IIb study set to start this year. The biotech divested antifungal drug Rezzayo rezafungin to regional partner Mundipharma International Ltd. as part of its realignment...