Cidara Therapeutics Inc. (CDTX) reports earnings

Cidara Therapeutics Inc. (CDTX) has submitted its 10-K filing for the fiscal year ended December 31, 2024.

The filing reports collaboration revenue of $1.3 million, a decrease from $23.3 million in the previous year, primarily due to the termination of the Janssen Collaboration Agreement.

Acquired in-process research and development expenses were $84.9 million, related to an upfront payment to Janssen under the Janssen License Agreement.

Research and development expenses increased to $71.9 million from $36.8 million, driven by higher expenses associated with the CD388 Phase 2b NAVIGATE study and personnel costs.

General and administrative expenses rose to $20.6 million from $13.6 million, due to higher audit fees, legal costs, and personnel expenses.

Other income, net, was $5.8 million, primarily from interest income on cash held in interest-bearing accounts.

Income from discontinued operations was $0.5 million, related to the sale of rezafungin assets and product revenue from REZZAYO shipments.

Cidara's cash, cash equivalents, and restricted cash totaled $196.2 million as of December 31, 2024, expected to support operations for at least one year.

The company completed a private placement in April 2024, raising $240.0 million, and another in November 2024, raising $105.0 million.

Cidara's lead clinical-stage asset, CD388, is a drug-Fc conjugate intended for influenza prophylaxis, with ongoing Phase 2b trials.

The company has shifted its research and development focus to the Cloudbreak platform after divesting its rezafungin assets.

This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Cidara Therapeutics Inc. annual 10-K report dated March 6, 2025. To report an error, please email [email protected].