Cidara Therapeutics (CDTX) AI Stock Analysis

• Market Cap: $6.96B
• Dividend Yield: N/A
• Average Volume (3M): 860.64K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.44
• Revenue Growth: -100.00%
• EPS Growth: 53.89%
• Country: US
• Employees: 38
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -3.10
• Shares Outstanding: 31,439,371
• 10 Day Avg. Volume: 627,044
• 30 Day Avg. Volume: 860,641
• PEG Ratio: >-0.01
• Price to Book (P/B): 1.05
• Price to Sales (P/S): 133.87
• P/FCF Ratio: -0.97
• Enterprise Value/Market Cap: 0.31
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -47.78
• Enterprise Value/Ebitda: -11.32
• 1Y Price Target: $217.00
• Price Target Upside: -1.98% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 7
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 68 Neutral
• Price Target: $241.00 ▲(8.86% Upside)

The score is driven by a strong balance sheet and very positive program/strategic developments (Phase III progress with breakthrough designation, BARDA support, and a signed acquisition agreement). These are offset by extremely weak current financial performance (no TTM revenue, large losses, and heavy cash burn) and technically overbought conditions that raise near-term volatility risk.

Positive Factors

Strong cash runway

Holding roughly $476M in cash materially lowers near-term financing and dilution risk for CD388 development. This allows the company to complete the Phase III program and regulatory interactions on schedule, preserving strategic optionality and reducing reliance on volatile capital markets.

Non-dilutive BARDA support

Securing up to $339M from BARDA provides significant non-dilutive funding for both manufacturing scale-up and clinical development. This reduces program financing risk, accelerates CMC activities, and strengthens program de-risking versus sole reliance on equity markets or partner milestones.

Strategic acquisition by Merck

Becoming a Merck subsidiary transfers program execution, commercialization and manufacturing scale to a large, experienced developer. This structural change reduces standalone execution and financing risk, accelerates commercial planning, and increases likelihood of successful global rollout if approvals are achieved.

Negative Factors

No recurring revenue

The company lacks meaningful commercial revenue and shows large trailing losses, reflecting a development-stage profile. Without product sales, long-term value depends on trial success or partner/acquirer execution; persistent losses limit reinvestment capacity absent external funding.

High cash burn

Sustained negative operating and free cash flow (~-$133M TTM) indicates heavy ongoing funding requirements to advance trials and CMC. Even with current cash, prolonged burn constrains investment in other programs and heightens dependency on external funding or corporate support for continuation.

Manufacturing/CMC is rate-limiting

Identified CMC bottlenecks create structural execution risk: delays in process characterization and vial configuration can push BLA timing, increase development cost, and complicate supply scale-up at launch. Such manufacturing issues materially affect regulatory timing and commercialization readiness.

Cidara Therapeutics Business Overview & Revenue Model

Company Description

Cidara Therapeutics, Inc., a biotechnology company, focuses on the discovery, development, and commercialization of long-acting anti-infectives for the treatment and prevention of infectious diseases and oncology in the United States. The company's lead product candidate is rezafungin acetate, a novel molecule in the echinocandin class of antifungals for the treatment and prevention of invasive fungal infections, including candidemia and invasive candidiasis, which are fungal infections associated with high mortality rates. It also advances its Cloudbreak platform to develop conjugates for the prevention and treatment of influenza and other viral infections, such as RSV, HIV, and the SARS-CoV-2 strains causing COVID-19. The company was formerly known as K2 Therapeutics, Inc. and changed its name to Cidara Therapeutics, Inc. in July 2014. Cidara Therapeutics, Inc. was incorporated in 2012 and is based in San Diego, California.

How the Company Makes Money

Cidara Therapeutics generates revenue through a combination of product development partnerships, grants, and potential future sales of its therapeutics. The company collaborates with larger pharmaceutical firms to co-develop its drug candidates, receiving milestone payments for achieving specific development goals and royalties on sales if the products are successfully commercialized. Additionally, Cidara may receive funding from government grants and programs aimed at fostering innovation in the biotechnology space. The company's strategic partnerships enhance its financial stability and provide access to resources and expertise that can accelerate the development of its therapeutic candidates.

Cidara Therapeutics Financial Statement Overview

Summary

Cidara Therapeutics faces significant financial challenges with persistent losses and negative cash flows. The income statement reveals a drastic revenue decline and deeply negative profit margins. The balance sheet shows low leverage but historically negative equity, while cash flow is heavily reliant on external financing.

Income Statement

Cidara Therapeutics has experienced a significant revenue decline in the latest year, with a revenue growth rate of -98% from the previous year. The net profit margin is deeply negative, at -13362.04% for 2024, indicating substantial losses relative to revenue. The gross profit margin is also negative, suggesting that the company is selling below cost. While biotechnology companies often face high R&D expenses, the magnitude of losses is concerning.

Balance Sheet

The company's debt-to-equity ratio is low due to a relatively high stockholders' equity, indicating low leverage. However, the equity ratio is 76.02%, reflecting a stable capital structure. Despite this, the company has historically negative equity, raising concerns about sustainable financial health. The increase in cash reserves provides some liquidity cushion.

Cash Flow

Operating cash flow is significantly negative, although there has been substantial cash inflow from financing activities. Free cash flow remains negative, and the operating cash flow to net income ratio is negative, due to both operating cash flow and net income being negative. The company is heavily dependent on external financing to sustain operations.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	1.27M	23.28M	64.45M	49.57M	12.07M
Gross Profit	-45.00M	1.27M	-13.48M	64.45M	-23.52M	12.07M
EBITDA	-189.91M	-175.87M	-26.95M	-33.36M	-42.07M	-70.80M
Net Income	-184.74M	-169.83M	-22.93M	-33.58M	-42.47M	-72.11M
Balance Sheet
Total Assets	518.65M	214.80M	67.03M	47.49M	75.33M	60.42M
Cash, Cash Equivalents and Short-Term Investments	293.65M	189.82M	35.78M	32.73M	62.27M	35.91M
Total Debt	1.98M	3.58M	4.88M	1.21M	5.06M	7.96M
Total Liabilities	96.26M	51.49M	75.24M	61.92M	53.75M	49.71M
Stockholders Equity	422.39M	163.31M	-8.21M	-14.44M	21.57M	10.71M
Cash Flow
Free Cash Flow	-132.94M	-176.66M	-22.94M	-28.59M	-25.27M	-54.60M
Operating Cash Flow	-132.94M	-176.53M	-22.43M	-28.47M	-25.23M	-54.41M
Investing Cash Flow	-176.28M	-129.00K	-505.00K	-118.00K	-41.00K	-186.00K
Financing Cash Flow	481.83M	337.06M	25.98M	-951.00K	44.60M	37.28M

Cidara Therapeutics Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 221.38
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CDTX, the sentiment is Positive. The current price of 221.38 is above the 20-day moving average (MA) of 220.58, above the 50-day MA of 185.09, and above the 200-day MA of 83.68, indicating a bullish trend. The MACD of 8.03 indicates Positive momentum. The RSI at 84.21 is Negative, neither overbought nor oversold. The STOCH value of 93.11 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CDTX.

Cidara Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CPRX	83 Outperform	$2.80B	13.18	27.52%	―	25.56%	44.42%
CDTX	68 Neutral	$6.96B	―	-68.70%	―	-100.00%	53.89%
ARQT	60 Neutral	$3.70B	-82.43	-28.17%	―	129.21%	80.35%
TARS	60 Neutral	$3.39B	-39.67	-28.35%	―	182.44%	47.21%
BEAM	58 Neutral	$2.72B	-6.39	-47.19%	―	-84.07%	-157.71%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
IDYA	50 Neutral	$3.06B	-19.57	-14.15%	―	5376.27%	20.97%

Cidara Therapeutics Corporate Events

Cidara Therapeutics Completes Acquisition and Becomes Private Company

On January 7, 2026, following the expiration of a tender offer the previous day, a purchaser entity completed a cash tender for approximately 88.3% of Cidara Therapeutics’ voting shares, then merged with and into Cidara under Delaware law, making Cidara a wholly owned subsidiary of the acquiring parent. As part of the transaction, all remaining common and Series A shares were converted into cash consideration, existing stock options, restricted stock units and warrants were either cashed out or cancelled in accordance with their terms, Cidara terminated its equity and employee stock purchase plans, its Nasdaq-listed shares were halted, delisted and prepared for deregistration with the SEC, and the company’s board, management and governing documents were replaced by those of the purchaser, effectively completing Cidara’s transition to a private, parent-controlled entity.

The most recent analyst rating on (CDTX) stock is a Hold with a $232.00 price target. To see the full list of analyst forecasts on Cidara Therapeutics stock, see the CDTX Stock Forecast page.

Cidara Therapeutics Enters Merger Agreement with Merck

On November 13, 2025, Cidara Therapeutics entered into a merger agreement with Merck, where Merck will acquire Cidara for $221.50 per share, totaling approximately $9.2 billion. This acquisition aims to diversify Merck’s portfolio by including Cidara’s investigational antiviral agent, CD388, which is currently in Phase 3 trials for preventing influenza in high-risk individuals. The merger is expected to close in the first quarter of 2026, pending regulatory approvals and other customary conditions. This strategic move aligns with Merck’s science-led business development strategy and is anticipated to enhance its pipeline, potentially driving growth and providing significant value to shareholders.

The most recent analyst rating on (CDTX) stock is a Hold with a $102.00 price target. To see the full list of analyst forecasts on Cidara Therapeutics stock, see the CDTX Stock Forecast page.