Cidara Therapeutics Estimates Will Incur Charges Of About $1.2M For Severance Payments And Employee Benefits, Primarily In Q4 2024; Expects To Initiate Phase 2b Clinical Trial Of CD388 For Prevention Of Influenza In Q3 2024
Portfolio Pulse from Benzinga Newsdesk
Cidara Therapeutics anticipates incurring approximately $1.2 million in charges for severance payments and employee benefits, mainly in Q4 2024. The company also plans to start a Phase 2b clinical trial for CD388, aimed at preventing influenza, in Q3 2024.
September 12, 2024 | 8:23 pm
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NEUTRAL IMPACT
Cidara Therapeutics will face $1.2M in severance and benefits charges, impacting financials in Q4 2024. However, the initiation of a Phase 2b trial for CD388 in Q3 2024 could be a positive catalyst.
The $1.2M charge for severance and benefits is a financial burden, but it is a one-time expense. The upcoming Phase 2b trial for CD388 could positively impact the stock if successful, balancing the short-term financial impact.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100