Cidara rises as it releases promising Phase IIa data for CD388

Shares of US biotech Cidara Therapeutics (Nasdaq: CDTX) rose almost 20% to $1.81 in early trading as the company announced promising efficacy and safety data from a planned interim analysis of the ongoing Phase IIa trial evaluating the pre-exposure prophylactic activity of CD388 against the H3N2 influenza A virus strain, as of a February 13, 2023 data cut-off.

Cidara noted that, as evidenced by animal efficacy studies, CD388 has the potential to be a long-acting antiviral drug designed to deliver universal prevention of seasonal and pandemic influenza A and B strains.

The study is being conducted under an exclusive worldwide license and collaboration agreement with US healthcare giant Johnson & Johnson’s (NYSE: JNJ) Janssen Pharmaceuticals unit, to develop and commercialize Cidara’s Cloudbreak drug-Fc conjugates (DFCs) for the prevention of seasonal and pandemic influenza.