Cidara Therapeutics Announces Janssen's Election To Proceed Under Its License Agreement Relating To Novel Drug-Fc Conjugates Targeting Influenza; Co. To Receive A $7M Milestone Payment And Is eligible For Additional $685M
Portfolio Pulse from Benzinga Newsdesk
Cidara Therapeutics announced that Janssen has elected to proceed under its license agreement relating to novel drug-Fc conjugates targeting influenza. Cidara will receive a $7M milestone payment and is eligible for an additional $685M.
September 06, 2023 | 12:03 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Cidara Therapeutics will receive a $7M milestone payment from Janssen and is eligible for an additional $685M.
The news of the milestone payment and potential additional revenue is positive for Cidara Therapeutics. This could lead to an increase in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Janssen, a subsidiary of Johnson & Johnson, has elected to proceed under its license agreement with Cidara Therapeutics.
While this news shows Janssen's commitment to the partnership, the financial impact on Johnson & Johnson is likely to be minimal given its size. Therefore, the short-term impact on JNJ's stock price is expected to be neutral.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70