Cidara Therapeutics, Inc. reported a net loss of $52.3 million, or $5.37 per share, for the fourth quarter ended December 31, 2024. The company also provided a corporate update on its activities and product pipeline.
Management characterized 2024 as a transformational year, marked by the reacquisition of rights to the CD388 program and successful financing rounds. The company raised $240.0 million in April and an additional $105.0 million in November 2024 to support the Phase 2b NAVIGATE trial and continued development efforts.
Key achievements included the completion of enrollment for the 5,000-subject Phase 2b NAVIGATE trial in December 2024, evaluating CD388 for single-dose prevention of seasonal influenza. Cidara also received IND clearance for CBO421, an oncology candidate, in July 2024, further diversifying its Cloudbreak platform pipeline.
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