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Cidara Therapeutics (CDTX) investor relations material
Cidara Therapeutics Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary7 Aug, 2025
Executive summary
Positive top-line results from the Phase 2b NAVIGATE trial for CD388, meeting all primary and secondary endpoints and demonstrating strong efficacy and safety in over 5,000 subjects.
Focus shifted to CD388 after divesting rezafungin assets and reacquiring CD388 rights from Janssen in April 2024.
Closed a $402.5 million upsized public offering, significantly strengthening the balance sheet for Phase 3 execution.
Cash, cash equivalents, and restricted cash of $516.9 million as of June 30, 2025, expected to fund operations through the planned Phase 3 study.
No revenue from continuing operations post-Janssen collaboration termination; sole R&D focus is now on CD388.
Financial highlights
Net loss narrowed to $49.2 million for the first half of 2025, compared to $101.5 million for the same period in 2024.
R&D expenses increased to $49.4 million for the first half of 2025, driven by CD388 development.
G&A expenses rose to $12.7 million for the first half of 2025, mainly due to higher stock-based compensation.
Reversal of $9.4 million in indirect tax liabilities in 2025 due to compliance and voluntary disclosure.
Cash position more than doubled from year-end 2024, with $516.9 million at June 30, 2025.
Outlook and guidance
Phase 3 study for CD388 planned to initiate by spring 2026, pending FDA feedback, with operational readiness as early as fall 2025 if permitted.
Focus for Phase 3 will be on high-risk, comorbid, and immunocompromised populations, leveraging fast track and priority review designations.
Full primary analysis from the Phase 2b NAVIGATE trial will be submitted to scientific conferences in 2025.
Additional funding will be needed to advance CD388 beyond Phase 3 and to develop other Cloudbreak programs.
Expecting outcomes from FDA breakthrough therapy designation and BARDA funding applications by year-end.
Clarify CD388 Phase III start timeline
How would BARDA funding impact CD388 development?
Explain lower Phase III placebo attack rate
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Next Cidara Therapeutics earnings date
Q3 20256 Nov, 2025
Next Cidara Therapeutics earnings date
Q3 20256 Nov, 2025
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Frequently asked questions
Cidara Therapeutics Inc. is a biotechnology company focused on developing anti-infective and immunotherapy treatments. The company specializes in long-acting antifungal and antiviral therapies, utilizing its proprietary drug-Fc conjugate (DFC) platform to enhance targeted immune responses. Its pipeline includes investigational treatments for serious fungal infections and viral diseases. The company is headquartered in San Diego, California, and its shares are listed on the NASDAQ.
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