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Cidara Announces Pricing of Upsized Public Offering of Common Stock

SAN DIEGO, June 24, 2025 (GLOBE NEWSWIRE) -- Cidara Therapeutics, Inc. ("Cidara") (NASDAQ:CDTX), a biotechnology company using its proprietary Cloudbreak® platform to develop drug-Fc conjugate (DFC) therapeutics, today announced the pricing of an underwritten public offering of 7,954,546 shares of its common stock at a price to the public of $44.00 per share. All of the shares are to be sold by Cidara.

The gross proceeds to Cidara from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be $350.0 million. In addition, Cidara has granted the underwriters a 30-day option to purchase up to an additional 1,193,181 shares of its common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on June 26, 2025, subject to the satisfaction of customary closing conditions.

J.P. Morgan, Morgan Stanley, Guggenheim Securities and Cantor are acting as joint book-running managers for the offering.

The offering is being made pursuant to a shelf registration statement on Form S-3 that was filed with the U.S. Securities and Exchange Commission (the "SEC") on May 8, 2025, and declared effective by the SEC on May 15, 2025. A preliminary prospectus supplement and accompanying prospectus relating to the proposed offering were filed with the SEC and are available for free on the SEC's website located at http://www.sec.gov. A final prospectus supplement and accompanying prospectus relating to the proposed offering will be filed with the SEC and will be available for free on the SEC's ...