CDTX - Cidara decline continues as shares decline 30% on late-stage antifungal data

The decline in Cidara Therapeutics (CDTX -31.0%) that began premarket following the release of top-line data on its phase 3 antifungal candidate rezafungin has continued to widen. Shares are dropping even though the trial met FDA and EMA pre-specified primary endpoints. Earlier this month, H.C. Wainwright analyst Ed Arce initiated shares with a buy and a $6 price target (~266% upside based on yesterday's close). At the time, he said that rezafungin had advantages over current treatments for candidemia and invasive candidiasis. Read about Cidara's Q3 2021 earnings.

For further details see:

Cidara decline continues as shares decline 30% on late-stage antifungal data