Here is the full lowdown! Hehehe. Or as some say. Here’s the rest of the story! Hehehe
$Cidara Therapeutics(CDTX.US$ Cidara Therapeutics To Sell Candidiasis Treatment, Re-acquire Flu Asset
WSJ· 4 mins ago
Cidara Therapeutics said it would sell its candidiasis treatment rezafungin to its partner and buy back the license to its potential influenza-prevention treatment.
The San Diego-based biotechnology company said Wednesday that it was divesting the treatment, sold under the brand name Rezzayo, to Mundipharma. Mundipharma has the commercial rights to rezafungin outside of the U.S. and Japan.
Cidara said the divestiture was made given the cost of funding its Phase 3 trial and the costs of the patent portfolio. The company said it expected the sale to lead to about $128 million in savings over the course of the life of the patent, more than half of which is in clinical development costs.
Cidara also said Wednesday that it was re-acquiring the exclusive development and commercial rights to CD388, an immunotherapy being developed to prevent all strains of the flu, from Johnson & Johnson's Janssen Pharmaceuticals.
Concurrent with the purchase, Cidara has agreed to sell $240 million worth of stock in a private placement led by RA Capital Management. The company said it would use the proceeds for developing CD388.
Cidara said in a regulatory filing that it would pay J&J an upfront payment of $85 million and will be obligated to pay the company up to $150 million in development and regulatory milestones and $455 million in commercialization milestones related to the asset.
WSJ· 4 mins ago
Cidara Therapeutics said it would sell its candidiasis treatment rezafungin to its partner and buy back the license to its potential influenza-prevention treatment.
The San Diego-based biotechnology company said Wednesday that it was divesting the treatment, sold under the brand name Rezzayo, to Mundipharma. Mundipharma has the commercial rights to rezafungin outside of the U.S. and Japan.
Cidara said the divestiture was made given the cost of funding its Phase 3 trial and the costs of the patent portfolio. The company said it expected the sale to lead to about $128 million in savings over the course of the life of the patent, more than half of which is in clinical development costs.
Cidara also said Wednesday that it was re-acquiring the exclusive development and commercial rights to CD388, an immunotherapy being developed to prevent all strains of the flu, from Johnson & Johnson's Janssen Pharmaceuticals.
Concurrent with the purchase, Cidara has agreed to sell $240 million worth of stock in a private placement led by RA Capital Management. The company said it would use the proceeds for developing CD388.
Cidara said in a regulatory filing that it would pay J&J an upfront payment of $85 million and will be obligated to pay the company up to $150 million in development and regulatory milestones and $455 million in commercialization milestones related to the asset.
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