Cidara (CDTX) Climbs 105% on $9.2-Billion Merger with Merck

Cidara Therapeutics soared by much than 100 percent week-on-week, arsenic investors repositioned portfolios pursuing quality that it is acceptable to beryllium acquired by Merck Co. for $9.2 billion.

On Friday alone, Cidara Therapeutics Inc. (NASDAQ:CDTX) climbed to arsenic precocious arsenic $218.85 earlier trimming gains to extremity the time conscionable up by 105.41 percent astatine $217.71 apiece.

This followed quality that Cidara Therapeutics Inc. (NASDAQ:CDTX) entered into a definitive statement with Merck, nether which the second would get its shares astatine a terms of $221.50 apiece, done its subsidiary.

The companies expect to adjacent the transaction successful the archetypal 4th of 2026.

The acquisition followed Cidara Therapeutics, Inc. (NASDAQ:CDTX) receipt of a accelerated way designation from the Food and Drug Administration for its cause candidate, CD388, which aims to forestall influenza successful individuals astatine higher hazard of complications.

Photo by National Cancer Institute connected Unsplash

The CD388 is presently being evaluated successful a Phase 3 survey among big and teen participants who are astatine higher hazard of processing complications from influenza.

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Disclosure: None. This nonfiction is primitively published at Insider Monkey.