Another Biotech Steals The Show

Another Biotech Steals The Show

By: Dylan Sikes – News

Wednesday, January 25, 2023

Biotechs have been absolutely hogging the headlines so far this week, and this afternoon appears to be a greater continuation of this theme. Earlier during Wednesday’s session, it was announced that a San Diego-based micro cap announced that the U.S. Food and Drug Administration (FDA) Antimicrobial Drugs Advisory Committee voted favorably 14 to 1 that the company, as part of its New Drug Application (NDA), provided sufficient evidence supporting a favorable benefit-risk assessment for a limited use indication for rezafungin for the treatment of candidemia and invasive candidiasis in adult patients with limited or no alternative treatment options, according to the release.

This sent shares of Cidara Therapeutics Inc. (Nasdaq:CDTX) flying on Wednesday, reaching up to $1.24/share (+33.61%) at the session high. It has been a wild month for this stock, so be sure to add this one to the watchlist!

Cidara Therapeutics Inc is a biotechnology company. It is focused on the discovery, development, and commercialization of novel anti-infectives for the treatment and prevention of diseases. The company's Rezafungin is a novel molecule in the echinocandin class of antifungals. It is developing rezafungin for the first-line treatment and prevention of serious, invasive fungal infections which are associated with high mortality rates. Its other product candidates include CD377, CD388, RSV AVC, HIV AVC, and SARS-CoV-2 AVC.

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