Why Is Infectious Diseases Focused Cidara Therapeutics Stock Trading Higher Today?
Portfolio Pulse from Vandana Singh
Cidara Therapeutics Inc's stock is trading higher after Johnson & Johnson's unit, Janssen Pharmaceuticals, decided to proceed with CD388 (JNJ-0953), a drug being developed for the universal prevention of influenza A and B. Janssen will assume responsibility for future development, manufacturing, and commercialization activities of CD388. Cidara will receive a $7 million milestone payment and is eligible to potentially receive an additional $685 million in milestone payment, plus tiered royalties on worldwide sales.
September 06, 2023 | 3:26 pm
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NEUTRAL IMPACT
Janssen, a unit of Johnson & Johnson, has decided to proceed with CD388, a drug being developed for the universal prevention of influenza A and B.
Janssen's decision to proceed with CD388 is a strategic move for the company. However, as it is a unit of Johnson & Johnson, the impact on JNJ's stock price may not be as significant.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Cidara's stock is trading higher due to Janssen's decision to proceed with CD388. This could potentially bring in significant revenue for Cidara.
The decision by Janssen to proceed with CD388, a drug being developed by Cidara, is a positive development for the company. This could potentially bring in significant revenue for Cidara, hence the increase in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100