Cidara Therapeutics Announces Closing of Public Offering of Common Stock, Including Exercise of Underwriter’s Option to Pur...
October 13 2016 - 9:20AM
Cidara Therapeutics, Inc. (Nasdaq:CDTX), a biotechnology company
developing novel anti-infectives including immunotherapies, today
announced the closing of its previously announced underwritten
public offering of 2,475,248 shares of its common stock, plus
277,389 additional shares sold pursuant to the underwriter’s
partial exercise of its option to purchase additional shares, each
at a price to the public of $10.10 per share. Including this option
exercise, the gross proceeds to Cidara from the offering, before
deducting underwriting discounts and commissions and other offering
expenses, will be approximately $27.8 million. The underwriter has
until November 6, 2016 to exercise its option to purchase an
additional 93,898 shares of Cidara’s common stock at the public
offering price.
Cantor Fitzgerald & Co. acted as the sole
book-running manager for the offering.
The securities described above were offered by
Cidara pursuant to a shelf registration statement, which has been
declared effective by the Securities and Exchange Commission. A
final prospectus supplement and accompanying prospectus relating to
the offering have been filed with the SEC and are available for
free on the SEC's website at http://www.sec.gov. Copies of the
final prospectus supplement and accompanying prospectus relating to
the offering may be obtained from: Cantor Fitzgerald & Co.,
Attn: Capital Markets, 499 Park Ave., 6th Floor, New York, New York
10022, or by telephone at 212-829-7122, or by e-mail at
prospectus@cantor.com.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy these securities, nor
shall there be any sale of these securities in any state or other
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such state or other jurisdiction.
About Cidara Therapeutics
Cidara is a clinical-stage biotechnology company
focused on developing new anti-infectives that have the potential
to transform the standard of care and save or improve patients’
lives. The company is currently advancing its novel echinocandin
antifungal, CD101, through Phase 2 studies in two indications and
developing CD201, its bispecific antimicrobial immunotherapy, for
the treatment of multi-drug resistant bacterial infections. CD101
IV has enhanced potency and is the only once-weekly therapy
intended for the treatment and prevention of serious invasive
fungal infections. CD101 topical is the first and only agent of its
class being studied for the treatment and prevention of
vulvovaginal candidiasis (VVC), a prevalent mucosal infection.
CD201 is the first drug candidate selected from Cidara’s novel
Cloudbreak™ platform, the first immunotherapy discovery platform
designed specifically to create compounds that direct a patient's
immune cells to attack and eliminate bacterial, fungal or viral
pathogens. Cidara is headquartered in San Diego, California. For
more information, please visit www.cidara.com.
INVESTOR CONTACT:
Robert H. Uhl
Westwicke Partners, LLC
Managing Director
(858) 356-5932
robert.uhl@westwicke.com
MEDIA CONTACT:
Mike Beyer
Sam Brown Inc.
(312) 961-2502
mikebeyer@sambrown.com
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