We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Cidara (CDTX) Inks Agreement With J&J for Influenza Therapies
Read MoreHide Full Article
Cidara Therapeutics, Inc. (CDTX - Free Report) announced that it has signed an exclusive worldwide license and collaboration agreement with Janssen Pharmaceuticals, a subsidiary of J&J (JNJ - Free Report) , to develop and commercialize influenza therapies. Per the collaboration, Cidara will develop its antiviral conjugates (AVCs) for the prevention and treatment of seasonal and pandemic influenza, and Janssen will fund the development and own exclusive rights to the AVCs.
Per the agreement, Cidara will be responsible for the development and manufacture of the first influenza AVC candidate, CD388, till phase II clinical study. Janssen will be responsible for the late-stage development of the candidate as well as for regulatory submission for an approval and its global commercialization. In exchange, Cidara will be eligible to receive $27 million in upfront payment and up to $753 million in budgeted research and development funding, and in development, regulatory and commercial milestones. Cidara will also receive royalties on worldwide sales, following successful development and launch of CD388. The company has the option to co-detail the candidate in the United States.
Cidara’s stock has gained 30.5% in the year so far against the industry's decline of 4.1%.
CD388 is a long-acting antiviral immunotherapy that is designed to provide universal protection against all influenza strains, including seasonal and pandemic influenza A, influenza B, for the entire influenza season. An investigational new drug application for CD388 is expected to be filed by Cidara by the end of this year. Pre-clinical studies have shown that CD388 has the potential to be effective across all patient populations, regardless of immune status and circulating strains.
Per the press release, there are an estimated 100 million individuals in the United States alone who are at high risk of complications due to seasonal influenza. Moreover, approximately 650,000 people die every year worldwide due to influenza.
Meanwhile, Cidara is developing its lead pipeline candidate, rezafungin, in a phase III study for candidemia and/or invasive candidiasis. Top-line data from the study is expected by the end of 2021. Another phase III study is evaluating the candidate in patients undergoing allogeneic blood and marrow transplant as prophylaxis regimen to prevent infections due to candida, aspergillus and pneumocystis. However, the study is yet to commence in the United States.
Moderna’s earnings per share estimates have moved up from $10.29 to $14.96 for 2021 in the past 60 days. The stock has soared 24.4% so far this year.
Repligen’s earnings per share estimates have moved north from $2.03 to $2.23 for 2021 in the past 60 days. The company delivered an earnings surprise of 51.51%, on average, in the last four quarters. The stock has risen 4.6% so far this year.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Image: Bigstock
Cidara (CDTX) Inks Agreement With J&J for Influenza Therapies
Cidara Therapeutics, Inc. (CDTX - Free Report) announced that it has signed an exclusive worldwide license and collaboration agreement with Janssen Pharmaceuticals, a subsidiary of J&J (JNJ - Free Report) , to develop and commercialize influenza therapies. Per the collaboration, Cidara will develop its antiviral conjugates (AVCs) for the prevention and treatment of seasonal and pandemic influenza, and Janssen will fund the development and own exclusive rights to the AVCs.
Per the agreement, Cidara will be responsible for the development and manufacture of the first influenza AVC candidate, CD388, till phase II clinical study. Janssen will be responsible for the late-stage development of the candidate as well as for regulatory submission for an approval and its global commercialization. In exchange, Cidara will be eligible to receive $27 million in upfront payment and up to $753 million in budgeted research and development funding, and in development, regulatory and commercial milestones. Cidara will also receive royalties on worldwide sales, following successful development and launch of CD388. The company has the option to co-detail the candidate in the United States.
Cidara’s stock has gained 30.5% in the year so far against the industry's decline of 4.1%.
CD388 is a long-acting antiviral immunotherapy that is designed to provide universal protection against all influenza strains, including seasonal and pandemic influenza A, influenza B, for the entire influenza season. An investigational new drug application for CD388 is expected to be filed by Cidara by the end of this year. Pre-clinical studies have shown that CD388 has the potential to be effective across all patient populations, regardless of immune status and circulating strains.
Per the press release, there are an estimated 100 million individuals in the United States alone who are at high risk of complications due to seasonal influenza. Moreover, approximately 650,000 people die every year worldwide due to influenza.
Meanwhile, Cidara is developing its lead pipeline candidate, rezafungin, in a phase III study for candidemia and/or invasive candidiasis. Top-line data from the study is expected by the end of 2021. Another phase III study is evaluating the candidate in patients undergoing allogeneic blood and marrow transplant as prophylaxis regimen to prevent infections due to candida, aspergillus and pneumocystis. However, the study is yet to commence in the United States.
Cidara Therapeutics, Inc. Price
Cidara Therapeutics, Inc. price | Cidara Therapeutics, Inc. Quote
Zacks Rank & Stocks to Consider
Cidara has a Zacks Rank #4 (Sell).
A couple of better-ranked stocks from the biotech sector include Moderna, Inc. (MRNA - Free Report) and Repligen Corporation (RGEN - Free Report) , both carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Moderna’s earnings per share estimates have moved up from $10.29 to $14.96 for 2021 in the past 60 days. The stock has soared 24.4% so far this year.
Repligen’s earnings per share estimates have moved north from $2.03 to $2.23 for 2021 in the past 60 days. The company delivered an earnings surprise of 51.51%, on average, in the last four quarters. The stock has risen 4.6% so far this year.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
AccessZacks Top 10 Stocks for 2021 today >>