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The forward-looking statements in the press release outline the potential contributions of Karbe to Cidara and the advancement of CD388, though they are subject to risks such as clinical trial delays and regulatory challenges. InvestingPro analysis reveals that while the company faces challenges with negative EBITDA of -$43M in the last twelve months, analyst consensus remains bullish with price targets ranging from $24 to $35. Subscribers to InvestingPro can access 10 additional key insights about Cidara’s financial health and market position. InvestingPro analysis reveals that while the company faces challenges with negative EBITDA of -$43M in the last twelve months, analyst consensus remains bullish with price targets ranging from $24 to $35. Subscribers to InvestingPro can access 10 additional key insights about Cidara’s financial health and market position.
Jeffrey Stein, Ph.D., president and CEO of Cidara, expressed confidence in Karbe’s ability to contribute to the company’s strategic vision, citing his track record in transforming companies into multi-billion-dollar commercial organizations. Stein also thanked Shah for his service and wished him well in his future endeavors.
Karbe’s appointment comes as Cidara advances its lead drug candidate, CD388, a long-acting antiviral for universal influenza prevention, through the Phase 2b NAVIGATE study, with plans for Phase 3 and beyond. Karbe highlighted the potential of CD388, noting the significant impact influenza has on public health despite existing treatments.
Cidara’s Cloudbreak® platform is used to develop drug-Fc conjugates (DFCs), including CD388, which was granted Fast Track Designation by the U.S. Food and Drug Administration (FDA) in June 2023. The company also has DFCs in development for oncology, with IND clearance received in July 2024 for CBO421 targeting CD73 in solid tumors.
The forward-looking statements in the press release outline the potential contributions of Karbe to Cidara and the advancement of CD388, though they are subject to risks such as clinical trial delays and regulatory challenges. InvestingPro analysis reveals that while the company faces challenges with negative EBITDA of -$43M in the last twelve months, analyst consensus remains bullish with price targets ranging from $24 to $35. Subscribers to InvestingPro can access 10 additional key insights about Cidara’s financial health and market position.
The forward-looking statements in the press release outline the potential contributions of Karbe to Cidara and the advancement of CD388, though they are subject to risks such as clinical trial delays and regulatory challenges.
The information in this article is based on a press release statement from Cidara Therapeutics (NASDAQ:CDTX), Inc.
In other recent news, Cidara Therapeutics has been making significant strides in its operations. Cantor Fitzgerald recently upgraded the biotechnology firm’s stock to Overweight, highlighting the potential of Cidara’s leading drug candidate, CD388. The firm’s analysis, led by Eric Schmidt, suggests the drug could be a significant preventative treatment for a wide array of flu strains, with potential peak sales reaching over $2 billion in the U.S. market alone.
Additionally, Cidara recently announced board changes and a mutual agreement for separation with its Chief Medical (TASE:PMCN) Officer. The company also reported a $105 million private placement led by Venrock Healthcare Capital Partners (WA:CPAP), with participation from RA Capital Management and TCGX, among others. The funds are expected to be channeled into research and development for its product candidates, working capital, and other corporate purposes.
These are the recent developments for Cidara, a company that continues to make substantial progress in its clinical programs. The firm’s financial position appears solid, and stakeholders will be watching closely as it progresses towards the release of its P2b NAVIGATE trial data.
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