Cidara Provides Corporate Update and Reports Second Quarter 2019 Financial Results
SAN DIEGO, Aug. 08, 2019 (GLOBE NEWSWIRE) -- Cidara Therapeutics, Inc. (Nasdaq: CDTX), a biotechnology company developing novel anti-infectives, including immunotherapies, today reported financial results for the three months ended June 30, 2019 and provided an update on its corporate activities and product pipeline.
"We have made important advances in both our rezafungin program to treat and prevent fungal disease as well as our Cloudbreak® immunotherapy program for the treatment and prevention of influenza," said Jeffrey Stein, Ph.D., president and chief executive officer of Cidara. “Rezafungin achieved positive topline results in its Phase 2 STRIVE B trial, which adds to the growing body of evidence supporting the efficacy and safety of this once-weekly treatment for candidemia and invasive candidiasis, and we continue to enroll patients in our Phase 3 ReSTORE trial. Our Cloudbreak influenza development candidate represents a truly novel approach that has the potential to provide both single-dose long term protection from, as well as rapid treatment of, influenza infections caused by all seasonal and pandemic strains of the virus. Our vision is to develop it as the first once-per-flu-season drug with universal activity."
Second Quarter 2019 and Subsequent Highlights
Second Quarter 2019 Financial Results
Rezafungin is a novel echinocandin antifungal and the only once-weekly drug candidate being developed for the first-line treatment and prevention of serious invasive fungal infections. Rezafungin has a unique pharmacokinetic profile with a prolonged half-life and front-loaded plasma exposure which, in contrast to all other echinocandins, allows for once-weekly IV therapy for inpatient and outpatient use. The U.S. Food and Drug Administration (FDA) has designated rezafungin as a Qualified Infectious Disease Product (QIDP) with Fast Track status and orphan drug designation related to its use in the treatment of candidemia and invasive candidiasis.
About Cidara Therapeutics
Cidara is a clinical-stage biotechnology company focused on the discovery, development and commercialization of novel anti-infectives that have the potential to transform the standard of care and save or improve patients’ lives. Cidara is currently advancing its novel echinocandin antifungal, rezafungin acetate, in a Phase 3 clinical trial for the first-line treatment of candidemia and/or invasive candidiasis (ReSTORE). A second Phase 3 trial of once-weekly rezafungin for prophylaxis against invasive fungal infections in patients undergoing allogeneic blood and marrow transplantation (ReSPECT) is planned pending adequate funding and approval from the relevant regulatory authorities. In addition to its robust rezafungin clinical program, Cidara is applying its proprietary Cloudbreak® platform to develop antiviral conjugates (AVCs) for the prevention and treatment of influenza and other viral diseases. The Cloudbreak platform is designed to discover compounds that both directly kill pathogens and direct a patient’s immune system to attack and eliminate pathogens. Cidara is headquartered in San Diego, California. For more information, please visit www.cidara.com.
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