KENILWORTH (NJ) (dpa-AFX) - Merck (MRK) and Cidara Therapeutics, Inc. (CDTX) have entered into a definitive agreement under which Merck, through a subsidiary, will acquire Cidara for $221.50 per share in cash, for a total transaction value of approximately $9.2 billion. The acquisition is subject to a majority of Cidara's stockholders tendering their shares in a tender offer. The transaction is expected to close in the first quarter of 2026 and is expected to be accounted for as an asset acquisition.
Cidara's lead candidate, CD388, consists of a small molecule neuraminidase inhibitor stably conjugated to a Fc fragment of a human antibody designed to prevent influenza A and B. It is currently being evaluated in the Phase 3 ANCHOR study among adult and adolescent participants who are at higher risk of developing complications from influenza.
Robert Davis, chairman and CEO, Merck, said: 'We intend to build on the Cidara team's remarkable progress and are confident that CD388 has the potential to be another important driver of growth through the next decade, creating real value for shareholders.'
Shares of Cidara are up 103% in pre-market trade on Friday.
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