FX.co ★ Cidara Therapeutics Announces Private Placement To Raise Up To $105 Mln, Stock Up

Cidara Therapeutics, Inc. (CDTX) announced on Thursday that it has entered into a securities purchase agreement with select investors to secure up to $105 million in capital. This agreement involves the issuance of approximately 3.9 million shares, priced at $14.912 each. In addition, certain investors will acquire pre-funded warrants, allowing them to purchase a total of about 3.15 million shares of common stock at a price of $14.9119 per warrant. The funds generated will be directed towards the research and development of product candidates, as well as for working capital and other general corporate purposes. Currently, Cidara's shares are experiencing a 17.31% increase, trading at $17.80 on the Nasdaq.