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Benzinga
Benzinga
Business
Dylan Berman

Cidara Shares Are Trading Higher Friday: What's Going On?

Cidara BARDA Influenza Pandemic
Medical researcher

Cidara Therapeutics, Inc. (NASDAQ:CDTX) shares are trading higher Friday after the company secured $339 million in BARDA funding to advance its CD388 pandemic influenza therapeutic and onshore its manufacturing.

What To Know: The agreement includes $58 million in base funding over 24 months to support the onshoring of CD388 manufacturing in the United States, conduct a clinical trial to compare higher-concentration formulations, test different presentations, further evaluate activity in non-clinical models and begin developing protocols for expanded populations.

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