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CDTX

Cidara Therapeutics, Inc.

CDTX

Cidara Therapeutics, Inc. • NASDAQ
$219.88 ▲ 0.06% (+0.13)
Market Cap $5.58 B
52w High $220.46
52w Low $15.22
Dividend Yield 0%
P/E -19.61
Volume 364.14K
Outstanding Shares 25.36M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $43.628M ▲ $-83.233M ▼ 0% $-3.1 ▼ $-83.205M ▼
Q2-2025 $0 $27.384M ▲ $-25.718M ▼ 0% $-1.65 ▲ $-27.357M ▼
Q1-2025 $0 $25.269M ▼ $-23.48M ▲ 0% $-1.66 ▲ $-25.22M ▲
Q4-2024 $0 $54.182M ▲ $-52.307M ▼ 0% $-5.37 ▼ $-54.123M ▼
Q3-2024 $0 $17.394M $-15.985M 0% $-2.38 $-17.333M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $293.651M ▼ $518.65M ▼ $96.263M ▲ $422.387M ▼
Q2-2025 $510.575M ▲ $534.327M ▲ $33.154M ▼ $501.173M ▲
Q1-2025 $168.15M ▼ $191.727M ▼ $50.045M ▼ $141.682M ▼
Q4-2024 $189.825M ▲ $214.796M ▲ $51.488M ▲ $163.308M ▲
Q3-2024 $127.386M $162.331M $46.701M $115.63M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-83.233M ▼ $-40.615M ▲ $-176.47M ▼ $160K ▼ $-216.925M ▼ $-40.615M ▲
Q2-2025 $-25.718M ▼ $-40.961M ▼ $0 ▼ $383.385M ▲ $342.424M ▲ $-40.961M ▼
Q1-2025 $-23.48M ▲ $-21.95M ▲ $185K ▲ $77K ▼ $-21.688M ▼ $-21.95M ▲
Q4-2024 $-52.307M ▼ $-29.414M ▲ $0 ▲ $98.205M ▲ $68.791M ▲ $-29.414M ▲
Q3-2024 $-12.984M $-36.695M $-106K $-182K $-36.983M $-36.801M

Revenue by Products

Product Q1-2021Q2-2021Q2-2023
Collaboration Revenue
Collaboration Revenue
 $0 ▲$30.00M ▲$10.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Cidara looks like a classic clinical‑stage biotech: very little recurring revenue, consistent operating losses, and heavy spending on R&D and overhead. Revenue that existed in prior years has largely dropped away recently, suggesting the end or slowdown of collaboration or licensing income. Losses widened in the latest year, mainly because expenses stayed high while revenue fell close to zero. The company’s earnings per share have been deeply negative for years, reflecting a business model that is still firmly in the investment phase rather than in commercial harvest mode.

Balance Sheet

Balance Sheet The balance sheet is dominated by cash and other liquid assets, with very little debt, which is typical and generally favorable for a small biotech. Total assets have stepped up recently, driven mostly by higher cash, and shareholder equity has swung back into positive territory after having been slightly negative. That implies recent capital inflows or value recognition, but also means the company’s net worth is still modest and sensitive to ongoing losses. Overall, the financial structure is simple and relatively clean, but not yet robust.

Cash Flow

Cash Flow Cidara has been consistently burning cash from its core operations, with outflows closely tracking its accounting losses. There is essentially no meaningful spending on physical assets, so free cash flow is almost entirely driven by R&D and operating costs. The latest year shows a noticeably higher cash burn than the preceding few years, which shortens the effective cash runway unless offset by new funding or partnership payments. The company’s survival until a potential Merck closing depends on continued access to capital or support from partners.

Competitive Edge

Competitive Edge Cidara’s edge comes from a focused strategy in serious infectious diseases and cancer, built around its Cloudbreak platform. This technology offers a differentiated approach by combining direct action against pathogens or tumors with immune system engagement, which few competitors can easily copy. Prior success bringing rezafungin to approval shows the team can navigate complex development and regulatory pathways. At the same time, the company operates in intensely competitive areas—flu prevention, antifungals, and oncology—where large pharmaceutical players and emerging biotechs are all pushing alternatives. The announced acquisition by Merck, if completed, would effectively plug Cidara’s science into a large, global commercial machine, which could strengthen its competitive position but also shifts control of strategy to Merck.

Innovation and R&D

Innovation and R&D Innovation is Cidara’s core strength. The Cloudbreak platform is designed to create long‑acting, highly targeted therapies that may require far less frequent dosing than standard treatments. The lead asset for influenza, CD388, aims to provide broad protection against many flu strains and has already received supportive regulatory designations, suggesting health authorities see its potential. The earlier success with rezafungin and the emerging oncology program around CD73 show the platform can be applied in both infectious disease and cancer. The flip side is that this innovation is expensive: R&D spending is a major driver of losses, and the value of the platform still hinges on late‑stage trial outcomes and regulatory decisions that are not guaranteed. Under Merck’s umbrella, future R&D progress will likely depend on how highly that larger company prioritizes Cloudbreak inside its broader pipeline.

Summary

Cidara is a high‑risk, high‑innovation biotech that has transitioned from a small, independent platform company to an acquisition target backed by a global pharmaceutical giant, subject to deal completion. Financially, the story is straightforward: minimal recurring revenue, persistent losses, steady cash burn, and a balance sheet that is dominated by cash but not yet large enough to be comfortable on a stand‑alone basis for the long term. Strategically, the company has built a meaningful scientific moat with its Cloudbreak technology, validated by an approved antifungal and a late‑stage flu asset that appears to have attracted Merck’s interest. The main uncertainties now center on clinical and regulatory outcomes for CD388, integration into Merck, and how much of the original pipeline vision is ultimately realized within the larger organization.

NEWS

November 24, 2025 · 8:00 AM UTC

Cidara Therapeutics Reaches Target Enrollment of Phase 3 ANCHOR Trial Evaluating CD388 for Prevention of Seasonal Influenza in High-Risk Populations

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November 21, 2025 · 5:30 PM UTC

SHAREHOLDER ALERT: The M&A Class Action Firm Continues to Investigate the Mergers-NUVSF, NDTAF, THS, and CDTX

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November 16, 2025 · 6:49 PM UTC

Cidara Therapeutics Investor Alert By The Former Attorney General Of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Cidara Therapeutics, Inc. - CDTX

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November 14, 2025 · 5:30 PM UTC

$HAREHOLDER ALERT: The M&A Class Action Firm Announces An Investigation of Cidara Therapeutics, Inc. (NASDAQ: CDTX)

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November 14, 2025 · 10:08 AM UTC

Shareholder Alert: The Ademi Firm investigates whether Cidara Therapeutics, Inc. is obtaining a Fair Price for its Public Shareholders

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