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Cidara (CDTX) Inks Agreement With J&J for Influenza Therapies

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Zacks Equity Research
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Cidara Therapeutics, Inc. CDTX announced that it has signed an exclusive worldwide license and collaboration agreement with Janssen Pharmaceuticals, a subsidiary of J&J JNJ, to develop and commercialize influenza therapies. Per the collaboration, Cidara will develop its antiviral conjugates (AVCs) for the prevention and treatment of seasonal and pandemic influenza, and Janssen will fund the development and own exclusive rights to the AVCs.

Per the agreement, Cidara will be responsible for the development and manufacture of the first influenza AVC candidate, CD388, till phase II clinical study. Janssen will be responsible for the late-stage development of the candidate as well as for regulatory submission for an approval and its global commercialization. In exchange, Cidara will be eligible to receive $27 million in upfront payment and up to $753 million in budgeted research and development funding, and in development, regulatory and commercial milestones. Cidara will also receive royalties on worldwide sales, following successful development and launch of CD388. The company has the option to co-detail the candidate in the United States.

Cidara’s stock has gained 30.5% in the year so far against the industry's decline of 4.1%.

CD388 is a long-acting antiviral immunotherapy that is designed to provide universal protection against all influenza strains, including seasonal and pandemic influenza A, influenza B, for the entire influenza season. An investigational new drug application for CD388 is expected to be filed by Cidara by the end of this year. Pre-clinical studies have shown that CD388 has the potential to be effective across all patient populations, regardless of immune status and circulating strains.

Per the press release, there are an estimated 100 million individuals in the United States alone who are at high risk of complications due to seasonal influenza. Moreover, approximately 650,000 people die every year worldwide due to influenza.

Meanwhile, Cidara is developing its lead pipeline candidate, rezafungin, in a phase III study for candidemia and/or invasive candidiasis. Top-line data from the study is expected by the end of 2021. Another phase III study is evaluating the candidate in patients undergoing allogeneic blood and marrow transplant as prophylaxis regimen to prevent infections due to candida, aspergillus and pneumocystis. However, the study is yet to commence in the United States.

Cidara Therapeutics, Inc. Price

Cidara Therapeutics, Inc. Price
Cidara Therapeutics, Inc. Price

Cidara Therapeutics, Inc. price | Cidara Therapeutics, Inc. Quote

Zacks Rank & Stocks to Consider

Cidara has a Zacks Rank #4 (Sell).

A couple of better-ranked stocks from the biotech sector include Moderna, Inc. MRNA and Repligen Corporation RGEN, both carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Moderna’s earnings per share estimates have moved up from $10.29 to $14.96 for 2021 in the past 60 days. The stock has soared 24.4% so far this year.

Repligen’s earnings per share estimates have moved north from $2.03 to $2.23 for 2021 in the past 60 days. The company delivered an earnings surprise of 51.51%, on average, in the last four quarters. The stock has risen 4.6% so far this year.

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