Cidara Announces Closing of Upsized Public Offering and Full Exercise of Underwriters鈥� Option to Purchase Additional Shares
Cidara Therapeutics (Nasdaq: CDTX), a biotechnology company, has successfully completed an upsized public offering of 9,147,727 shares of common stock at $44.00 per share. The offering includes the full exercise of underwriters' option to purchase an additional 1,193,181 shares. The company raised gross proceeds of $402.5 million before deducting underwriting discounts and commissions.
The offering was managed by prominent financial institutions including J.P. Morgan, Morgan Stanley, Guggenheim Securities, and Cantor as joint book-running managers. The shares were offered through a shelf registration statement on Form S-3 that was declared effective by the SEC on May 15, 2025.
Cidara Therapeutics (Nasdaq: CDTX), un'azienda biotecnologica, ha completato con successo un'offerta pubblica aumentata di 9.147.727 azioni ordinarie a 44,00 dollari per azione. L'offerta include l'esercizio completo dell'opzione degli underwriter per acquistare ulteriori 1.193.181 azioni. La societ脿 ha raccolto proventi lordi per 402,5 milioni di dollari prima delle detrazioni per sconti e commissioni di sottoscrizione.
L'offerta 猫 stata gestita da importanti istituzioni finanziarie tra cui J.P. Morgan, Morgan Stanley, Guggenheim Securities e Cantor come joint book-running managers. Le azioni sono state offerte tramite una dichiarazione di registrazione a scaglione sul modulo S-3, dichiarata efficace dalla SEC il 15 maggio 2025.
Cidara Therapeutics (Nasdaq: CDTX), una empresa biotecnol贸gica, ha completado con 茅xito una oferta p煤blica aumentada de 9.147.727 acciones ordinarias a 44,00 d贸lares por acci贸n. La oferta incluye el ejercicio completo de la opci贸n de los suscriptores para comprar 1.193.181 acciones adicionales. La compa帽铆a recaud贸 ingresos brutos por 402,5 millones de d贸lares antes de deducir descuentos y comisiones de suscripci贸n.
La oferta fue gestionada por instituciones financieras destacadas como J.P. Morgan, Morgan Stanley, Guggenheim Securities y Cantor como gestores conjuntos. Las acciones se ofrecieron a trav茅s de una declaraci贸n de registro en estanter铆a en el Formulario S-3, que fue declarada efectiva por la SEC el 15 de mayo de 2025.
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Cidara Therapeutics (Nasdaq : CDTX), une entreprise de biotechnologie, a r茅ussi une augmentation de capital publique portant sur 9 147 727 actions ordinaires 脿 44,00 dollars par action. L'offre comprend l'exercice complet de l'option des souscripteurs d'acheter 1 193 181 actions suppl茅mentaires. La soci茅t茅 a lev茅 402,5 millions de dollars de produits bruts avant d茅duction des remises et commissions de souscription.
L'op茅ration a 茅t茅 g茅r茅e par des institutions financi猫res de premier plan, notamment J.P. Morgan, Morgan Stanley, Guggenheim Securities et Cantor en tant que chefs de file conjoints. Les actions ont 茅t茅 propos茅es via une d茅claration d'enregistrement sur 茅tag猫re sur le formulaire S-3, d茅clar茅e effective par la SEC le 15 mai 2025.
Cidara Therapeutics (Nasdaq: CDTX), ein Biotechnologieunternehmen, hat erfolgreich ein erh枚htes 枚ffentliches Angebot von 9.147.727 Stammaktien zu 44,00 USD pro Aktie abgeschlossen. Das Angebot beinhaltet die vollst盲ndige Aus眉bung der Option der Underwriter zum Kauf von weiteren 1.193.181 Aktien. Das Unternehmen erzielte Bruttoerl枚se in H枚he von 402,5 Millionen USD vor Abzug von Underwriting-Rabatten und Provisionen.
Das Angebot wurde von renommierten Finanzinstituten wie J.P. Morgan, Morgan Stanley, Guggenheim Securities und Cantor als gemeinsame Bookrunner verwaltet. Die Aktien wurden 眉ber eine Shelf-Registrierungserkl盲rung auf Formular S-3 angeboten, die von der SEC am 15. Mai 2025 f眉r wirksam erkl盲rt wurde.
- Substantial capital raise of $402.5 million strengthens company's balance sheet
- Full exercise of underwriters' option indicates strong investor demand
- Offering was managed by top-tier investment banks, demonstrating institutional credibility
- Significant dilution for existing shareholders through issuance of over 9.1 million new shares
Insights
Cidara secured $402.5M through an upsized offering at $44/share, significantly strengthening its financial position to advance its Cloudbreak platform and DFC therapeutics pipeline.
Cidara Therapeutics has successfully completed a substantially upsized public offering, raising
This capital raise represents a significant financial milestone for Cidara, providing substantial funding for its proprietary Cloudbreak庐 platform and drug-Fc conjugate (DFC) therapeutic development pipeline. The involvement of major financial institutions as joint book-running managers - J.P. Morgan, Morgan Stanley, Guggenheim Securities, and Cantor - signals institutional confidence in Cidara's technology and business trajectory.
For a biotechnology company focused on novel therapeutic platforms like Cloudbreak, this level of funding typically provides multiple years of operational runway. The
This successful financing positions Cidara to execute its clinical development strategy from a position of financial strength, reducing near-term funding concerns and allowing management to focus on scientific and clinical milestones rather than capital raising activities. The timing aligns with the company's shelf registration that became effective in May 2025, demonstrating efficient capital markets execution.
SAN DIEGO, June 26, 2025 (GLOBE NEWSWIRE) -- Cidara Therapeutics, Inc. (鈥淐idara鈥�) (Nasdaq: CDTX), a biotechnology company using its proprietary Cloudbreak庐 platform to develop drug-Fc conjugate (DFC) therapeutics, today announced the closing of its underwritten public offering of 9,147,727 shares of its common stock, including the exercise in full by the underwriters of their option to purchase an additional 1,193,181 shares, at a price to the public of
J.P. Morgan, Morgan Stanley, Guggenheim Securities and Cantor acted as joint book-running managers for the offering.
The offering was made pursuant to a shelf registration statement on Form S-3 that was filed with the U.S. Securities and Exchange Commission (the 鈥淪EC鈥�) on May 8, 2025, and declared effective by the SEC on May 15, 2025. A final prospectus supplement and accompanying prospectus relating to the offering were filed with the SEC and are available for free on the SEC鈥檚 website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at ; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, or by email at ; Guggenheim Securities, LLC Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017 or by telephone at (212) 518-9544, or by email at ; or Cantor Fitzgerald & Co. by mail at Attention: Capital Markets, 110 East 59th Street, New York 10022 or by email at .
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Cidara Therapeutics
Cidara Therapeutics is using its proprietary Cloudbreak庐 platform to develop novel DFCs comprising targeted small molecules or peptides coupled to a proprietary human antibody fragment. Cidara鈥檚 lead DFC candidate, CD388, is a long-acting antiviral designed to achieve universal prevention of seasonal and pandemic influenza with a single dose by directly inhibiting viral proliferation. In June 2023, CD388 was granted Fast Track Designation by the U.S. Food and Drug Administration, and Cidara announced completion of enrollment of its Phase 2b NAVIGATE trial in December 2024. Additional DFCs have been developed for oncology and in July 2024 Cidara received investigational new drug application clearance for CBO421 which is intended to target CD73 in solid tumors. Cidara is headquartered in San Diego, California.
Investor Contact:
Brian Ritchie
LifeSci Advisors
(212) 915-2578
[email protected]
FAQ
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