Health and Healthcare
Cidara Therapeutics Sinks Despite Positive Midstage Results
Published:
Last Updated:
Cidara Therapeutics Inc. (NASDAQ: CDTX) shares took a big step back on Monday, despite the firm reporting positive midstage results. Specifically, Cidara reported positive topline results from its Phase 2 Strive clinical trial of its lead antifungal candidate rezafungin acetate.
The trial met all of its primary objectives, as once-weekly intravenous dosing of rezafungin was observed to be generally well tolerated and safe in patients with candidemia and invasive candidiasis.
The data also showed evidence of the efficacy of rezafungin, which was defined in the trial by clearance of Candida from the blood or other normally sterile sites, resolution of signs related to the infection, investigator assessment of clinical response and overall survival.
Ultimately, these results will enable Cidara to advance its planned Phase 3 pivotal trials in the treatment of candidemia and invasive candidiasis and the prevention (prophylaxis) of invasive fungal infections in 2018.
Jeffrey Stein, Ph.D., president and CEO of Cidara, commented:
We extend sincere thanks to our STRIVE participants, investigators and their site staff for their dedication and execution of this trial. This is the first time that any antifungal has shown the potential to be a safe and effective once-weekly treatment option for patients with difficult-to-treat and deadly invasive Candida infections, which may enable patients to leave the hospital earlier, saving money and improving care. It is especially encouraging to note the consistent trends in relative outcomes improvement among patients on the rezafungin 400/200 regimen as compared to those on the comparator caspofungin. With these data in hand, we can confidently select the dosing regimens for our two upcoming Phase 3 pivotal trials of rezafungin in treatment and prophylaxis.
Shares of Cidara were last seen down more than 24% at $5.98, with a consensus analyst price target of $14.06 and a 52-week range of $5.60 to $8.80.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
