Cidara Therapeutics appoints new CMO and SVP

SAN DIEGO - Cidara Therapeutics, Inc. (NASDAQ:CDTX), a biotechnology firm specializing in the development of drug-Fc conjugate therapeutics, announced today the promotion of Nicole Davarpanah, M.D., J.D., to Chief Medical Officer (CMO) and Corrina Pavetto to Senior Vice President of Clinical Development. This strategic move aligns with the company’s progression of its influenza antiviral candidate, CD388, through the Phase 2b NAVIGATE trial and into the upcoming Phase 3 trials. The company, currently valued at approximately $229 million, maintains a strong financial position with more cash than debt on its balance sheet, according to InvestingPro data.

Dr. Davarpanah’s extensive background in clinical development and translational medicine, including a significant tenure at Genentech/Roche, positions her as a key asset for the Phase 3 development of CD388, particularly for high-risk and immunocompromised patient populations. Her dual expertise in medicine and law, combined with her academic contributions at Georgetown University, underscore her comprehensive approach to clinical and regulatory strategy. This leadership appointment comes as the company faces significant financial challenges, with InvestingPro analysis indicating rapid cash burn and analysts revising earnings expectations downward for the upcoming period.

Corrina Pavetto brings over two decades of experience in clinical research and regulatory affairs, with a focus on infectious diseases. Her previous role at BARDA, where she played a crucial part in the development of FDA-approved influenza prophylaxis and treatment products, lends significant expertise to Cidara’s clinical development programs.

Cidara’s proprietary Cloudbreak® platform is the foundation for their novel drug-Fc conjugates (DFCs), including CD388, which aims to provide universal prevention of seasonal and pandemic influenza with a single dose. The FDA granted CD388 Fast Track Designation in June 2023, and the completion of the 5,000 patient Phase 2b NAVIGATE trial was announced in December 2024.

The company’s portfolio extends beyond antivirals into oncology, with IND clearance for CBO421 targeting CD73 in solid tumors received in July 2024.

While the company’s press release contains forward-looking statements regarding the potential of CD388 and the initiation of Phase 3 trials, these statements are subject to various risks and uncertainties. The future of CD388 will depend on the outcomes of ongoing clinical trials and regulatory reviews. Despite these challenges, the stock has shown remarkable strength, delivering a 77% return over the past year. Analysts maintain an optimistic outlook, with price targets ranging from $33 to $46 per share. For deeper insights into Cidara’s financial health and growth potential, investors can access additional analysis through InvestingPro, which offers 12 more exclusive tips and comprehensive financial metrics.

This article is based on a press release statement from Cidara Therapeutics, Inc.

In other recent news, Cidara Therapeutics is garnering attention as it prepares to release pivotal Phase 2b study results for its lead drug candidate, CD388, designed for influenza prevention. Analysts from JMP Securities and Cantor Fitzgerald have both maintained positive outlooks on Cidara, with JMP setting a price target of $46.00 and Cantor Fitzgerald reiterating an Overweight rating. The NAVIGATE study, which is a double-blind, randomized, placebo-controlled trial, involves around 5,000 participants and aims to evaluate CD388’s effectiveness against influenza. H.C. Wainwright analyst Ed Arce has also raised the price target for Cidara to $35, citing the potential for early top-line analysis of the study. Analysts are optimistic about CD388’s innovative design, which includes a prolonged half-life and requires only a single subcutaneous injection for flu season protection. The study’s results are expected to significantly influence Cidara’s market position and could lead to a Phase 3 trial by the 2025-26 flu season. Meanwhile, Phathom Pharmaceuticals has announced the appointment of Ted Schroeder to its Board of Directors. Schroeder’s extensive experience in the biopharmaceutical sector is anticipated to contribute to Phathom’s growth, particularly in expanding the commercial reach of their drug VOQUEZNA®.

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