CDTX - Cidara Therapeutics receives $11.1M milestone payment from Mundipharma

• Cidara Therapeutics ( NASDAQ: CDTX ) has announced receipt of an $11M milestone payment from Mundipharma under the licensing agreement established between the two companies in September 2019.
• The payment was made in association with the European Medicines Agency acceptance of the marketing authorization application for rezafungin for the treatment of candidemia and invasive candidiasis in adult patients.
• “With the $11M milestone payment from Mundipharma, Cidara remains eligible to receive additional non-dilutive capital of up to approximately $108M in development and regulatory milestones from our existing partnerships based on successful completion of activities planned for the next two years,” said Jeffrey Stein, Ph.D., President and CEO of Cidara.
• CDTX +5.44% premarket to $0.58.

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