H.C. Wainwright reiterates Cidara as top pick after influenza data

H.C. Wainwright analyst Sara Nik reiterates Cidara Therapeutics (CDTX) as a top pick after presented translational efficacy data on CD388, its lead influenza drug-Fc conjugate candidate. The data offer an “important de-risking link” between preclinical studies of CD388 and the recently presented clinical outcomes of the Phase 2b NAVIGATE study, the analyst tells investors in a research note. The firm believes the data demonstrate that following lethal dosing of influenza, mice that received a single dose of CD388 at 1mg/kg demonstrated potent activity against 12 seasonal and multiple pandemic influenza subtypes. This provides further mechanistic validation of CD388, contends H.C. Wainwright. The firm keeps a Buy rating on the shares with a $150 price target