Cidara Therapeutics soared to nearly a decade high on Friday, as investors gobbled up shares following news that it is set to be acquired by pharmaceutical giant Merck for $9.2 billion.
At intra-day trading, Cidara Therapeutics, Inc. （NASDAQ:CDTX） soared to its highest price of $218.85, before trimming gains to finish the day just up by 105.41 percent at $217.71 apiece.
Cidara Therapeutics acquired
In a statement, Cidara Therapeutics, Inc. （NASDAQ:CDTX） said that it entered into a definitive agreement with Merck, under which the latter would acquire its shares at a price of $221.50 apiece through its subsidiary.
The companies expect to close the transaction in the first quarter of 2026.
The acquisition followed Cidara Therapeutics, Inc. （NASDAQ:CDTX） receipt of a fast track designation from the Food and Drug Administration for its drug candidate, CD388, which aims to prevent influenza in individuals at higher risk of complications.
The CD388 is currently being evaluated in a Phase 3 study among adult and adolescent participants who are at higher risk of developing complications from influenza.
Cidara Therapeutics （CDTX） Stock Rating
Timestamp: November 17, 2025
Cidara Therapeutics Inc : RBC Cuts to Sector Perform From Outperform; Raises Target Price to $221.5 From $145
Timestamp: November 15, 2025
Morgan Stanley analyst Maxwell Skor downgraded $Cidara Therapeutics （CDTX.US）$ to a Hold rating while raising the target price from $190 to $221.5.
According to TipRanks data, the analyst has a 66.7% overall win rate over the past year with an average total return of 17.1%.
Needham analyst Joseph Stringer downgraded to Hold rating.
RBC Capital Markets analyst Brian Abrahams downgraded to Hold rating and raised target price from $145 to $221.50.
H.C. Wainwright analyst Sara Nik downgraded to Hold rating.
Cidara Therapeutics Company Performance
Cidara Therapeutics, Inc. （CDTX.US） released its financial report, showing a net loss of $83.23 million for the third fiscal quarter of 2025, a year-over-year decrease of 435.59%. Operating revenue was $0.00, with basic earnings per share at -$3.10.
According to the balance sheet, Cidara Therapeutics, Inc. （CDTX.US） reported total liabilities of $96.26 million, including short-term debt of $1.56 million. The company’s debt-to-equity ratio stood at 0.06, while its current ratio was 0.05.
Cidara Therapeutics, Inc. （CDTX） Description
Cidara Therapeutics, Inc. operates as a biotechnology company that focuses on developing targeted therapies for patients facing cancers and other serious diseases. The company’s product includes rezafungin acetate, a novel molecule in the echinocandin class of antifungals for the treatment and prevention of invasive fungal infections, including candidemia and invasive candidiasis, which are fungal infections associated with high mortality rates. It also develops its Cloudbreak platform that enables development of novel drug-Fc conjugates, that includes CD388, a potent antiviral designed to deliver universal prevention and treatment of seasonal and pandemic influenza, which is in Phase 1 and Phase 2a clinical trials. The company was formerly known as K2 Therapeutics, Inc. and changed its name to Cidara Therapeutics, Inc. in July 2014. Cidara Therapeutics, Inc. was incorporated in 2012 and is based in San Diego, California.