Cidara Therapeutics Surges as Merck Moves Toward Acquisition

Cidara Therapeutics (CDTX) shares surged more than 90% after the Financial Times reported that Merck is close to acquiring the biotech company. The deal, centered around Cidara’s long-acting flu antibody program, could be finalized as early as Friday if negotiations remain on track.

Reported Deal Terms and Structure

The acquisition is expected to come at a premium to Cidara’s $3.3B market cap.
The deal is anticipated to include:
• Upfront cash payment
• Milestone-based payments tied to the antibody’s clinical development
Final pricing details have not yet been disclosed.

Competitive Bidding Before Merck Was Selected

Merck was reportedly competing with at least one other pharmaceutical company.
Merck’s offer was ultimately selected, though discussions are still ongoing.

Strategic Interest in Long-Acting Flu Antibody

Cidara is developing a long-acting antibody designed to provide extended protection against influenza. The asset aligns with Merck’s broader infectious disease pipeline and represents a potentially high-value addition if clinical milestones are reached.