Cidara Therapeutics announced its inclusion in the Russell 2000 and 3000 Indexes, enhancing its visibility with institutional investors.
Quiver AI Summary
Cidara Therapeutics, Inc. announced its inclusion in the Russell 2000 and Russell 3000 Indexes, marking a significant achievement for the biotechnology company that focuses on drug-Fc conjugate therapeutics using its Cloudbreak® platform. This inclusion follows positive developments, including the successful Phase 2b NAVIGATE trial data and a $400 million financing, enhancing the company's visibility among institutional investors. Cidara’s lead candidate, CD388, aims to provide universal influenza prevention with a single dose and has received Fast Track Designation from the FDA. The company is also advancing other drug candidates for oncology.
Potential Positives
- Cidara Therapeutics' inclusion in the Russell 2000 and Russell 3000 Indexes enhances its visibility and credibility in the institutional investment community.
- This milestone reflects significant progress for Cidara, aligning with positive momentum from recent clinical data and substantial financial backing.
- The company’s lead candidate, CD388, has received Fast Track Designation from the FDA, signaling regulatory recognition and potential for expedited development.
- Successful completion of enrollment for the Phase 2b NAVIGATE trial positions Cidara for future advancements in its clinical pipeline.
Potential Negatives
- Despite the achievement of being included in the Russell 2000 and Russell 3000 Indexes, the press release emphasizes uncertainties and risks related to future developments of the company's drug candidates, particularly CD388, which may undermine investor confidence.
- The mention of potential delays or negative results from clinical trials could indicate that the company's clinical development is still fraught with challenges, which may deter potential investors.
- While the press release highlights a successful $400 million financing, it also highlights that this could be a response to ongoing financial needs rather than a sign of robust financial health.
FAQ
What is Cidara Therapeutics known for?
Cidara Therapeutics is known for developing drug-Fc conjugate therapeutics using its proprietary Cloudbreak® platform.
When was Cidara added to the Russell Indexes?
Cidara was added to the Russell 2000® and Russell 3000® Indexes on June 30, 2025.
What is the significance of the Russell Index inclusion?
Inclusion in the Russell Indexes enhances Cidara's visibility with institutional investors, reflecting the company's progress.
What is the lead candidate of Cidara Therapeutics?
Cidara's lead candidate is CD388, an antiviral aimed at universal prevention of seasonal and pandemic influenza.
What recent trial results did Cidara announce?
Cidara announced positive data from its Phase 2b NAVIGATE trial, completed in December 2024.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$CDTX Insider Trading Activity
$CDTX insiders have traded $CDTX stock on the open market 4 times in the past 6 months. Of those trades, 2 have been purchases and 2 have been sales.
Here’s a breakdown of recent trading of $CDTX stock by insiders over the last 6 months:
- CHRYSA MINEO has made 2 purchases buying 3,320 shares for an estimated $73,895 and 0 sales.
- LESLIE TARI (CHIEF SCIENTIFIC OFFICER) sold 1,773 shares for an estimated $38,939
- SHANE WARD (COO & CLO) sold 1,664 shares for an estimated $36,542
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$CDTX Hedge Fund Activity
We have seen 26 institutional investors add shares of $CDTX stock to their portfolio, and 14 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ADAGE CAPITAL PARTNERS GP, L.L.C. added 620,046 shares (+167.6%) to their portfolio in Q1 2025, for an estimated $13,355,790
- VESTAL POINT CAPITAL, LP added 504,542 shares (+inf%) to their portfolio in Q1 2025, for an estimated $10,867,834
- MONASHEE INVESTMENT MANAGEMENT LLC removed 369,099 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $9,921,381
- SUSQUEHANNA INTERNATIONAL GROUP, LLP added 299,853 shares (+703.5%) to their portfolio in Q1 2025, for an estimated $6,458,833
- VANGUARD GROUP INC added 292,072 shares (+134.3%) to their portfolio in Q1 2025, for an estimated $6,291,230
- CITADEL ADVISORS LLC added 287,775 shares (+inf%) to their portfolio in Q1 2025, for an estimated $6,198,673
- VR ADVISER, LLC added 285,795 shares (+37.3%) to their portfolio in Q1 2025, for an estimated $6,156,024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$CDTX Analyst Ratings
Wall Street analysts have issued reports on $CDTX in the last several months. We have seen 4 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Guggenheim issued a "Buy" rating on 06/24/2025
- RBC Capital issued a "Outperform" rating on 06/24/2025
- H.C. Wainwright issued a "Buy" rating on 06/23/2025
- Citigroup issued a "Outperform" rating on 03/12/2025
To track analyst ratings and price targets for $CDTX, check out Quiver Quantitative's $CDTX forecast page.
$CDTX Price Targets
Multiple analysts have issued price targets for $CDTX recently. We have seen 3 analysts offer price targets for $CDTX in the last 6 months, with a median target of $50.0.
Here are some recent targets:
- An analyst from Guggenheim set a target price of $68.0 on 06/24/2025
- Roy Buchanan from JMP Securities set a target price of $46.0 on 03/12/2025
Full Release
SAN DIEGO, June 30, 2025 (GLOBE NEWSWIRE) -- Cidara Therapeutics, Inc. (Nasdaq: CDTX), a biotechnology company applying its proprietary Cloudbreak ® platform to develop drug-Fc conjugate (DFC) therapeutics, today announced its addition to the Russell 2000 ® and Russell 3000 ® Indexes.
The Russell 3000 Index encompasses the 3,000 largest U.S. companies by market capitalization, representing approximately 98% of the investable U.S. equity market. The Russell 2000 Index is a subset of the Russell 3000, measuring the performance of the small-cap segment.
“Being included in the Russell 2000 and Russell 3000 Indexes is an important milestone for the company and represents the progress we continue to make,” said Jeffrey Stein, Ph.D., president and chief executive officer of Cidara. “Following the recent positive data from our Phase 2b NAVIGATE trial, as well as our successful $400 million financing, the inclusion in these indexes only further enhances our visibility with the institutional investment community.”
About Cidara Therapeutics
Cidara Therapeutics is using its proprietary Cloudbreak
®
platform to develop novel drug-Fc conjugates (DFCs) comprising targeted small molecules or peptides coupled to a proprietary human antibody fragment (Fc). Cidara’s lead DFC candidate, CD388, is a long-acting antiviral designed to achieve universal prevention of seasonal and pandemic influenza with a single dose by directly inhibiting viral proliferation. In June 2023, CD388 was granted Fast Track Designation by the U.S. Food and Drug Administration (FDA), and the Company announced completion of enrollment of its Phase 2b NAVIGATE trial in December 2024. Additional DFCs have been developed for oncology and in July 2024 Cidara received investigational new drug application clearance for CBO421 which is intended to target CD73 in solid tumors. Cidara is headquartered in San Diego, California. For more information, please visit
www.cidara.com
.
Forward-Looking Statements
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “anticipates,” “expect,” “intends,” “believes,” “may,” “plan” or “will”. Forward-looking statements in this release include, but are not limited to, statements related to the potential benefits of and future plans for CD388, a planned Phase 3 trial of CD388 and the expected timing for presenting additional results from the NAVIGATE trial. Such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, such as unanticipated delays in or negative results from Cidara’s clinical trials and other risks related to clinical development, delays in action by regulatory authorities, other obstacles on the enrollment of patients or other aspects of CD388 or other DFC development and other risks and uncertainties associated with Cidara’s business in general. These and other risks are identified under the caption “Risk Factors” in Cidara’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and other filings subsequently made with the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management’s assumptions and estimates as of such date. Cidara does not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise.
INVESTOR CONTACT:
Brian Ritchie
LifeSci Advisors
(212) 915-2578
[email protected]
MEDIA CONTACT:
Michael Fitzhugh
LifeSci Communications
(628) 234-3889
[email protected]