Cidara Therapeutics, Inc.

We are a biotechnology company that uses our proprietary Cloudbreak® platform to create drug-Fc conjugate (DFC) immunotherapies. Our goal is to save lives and improve patient care for serious diseases. Our main clinical-stage product is CD388, a DFC designed to prevent influenza. We discovered and advanced CD388 into clinical trials through a partnership with J&J Innovative Medicine (previously Janssen Pharmaceuticals, Inc.). We completed two Phase 1 studies and one Phase 2a study for CD388 under a license and collaboration agreement with Janssen, which began in March 2021. In 2023, Janssen decided to stop internal development of several infectious disease product candidates, including CD388, as part of a research and development prioritization. In April 2024, we reacquired all rights to develop and commercialize CD388 from Janssen through a competitive process and a new license and technology transfer agreement. This agreement grants us an exclusive, worldwide, fee-bearing but royalty-free license for certain Janssen-controlled technology to develop, manufacture, and commercialize compounds like CD388. Simultaneously with reacquiring CD388, we completed a private placement in April 2024, selling 240,000 shares of Series A Convertible Voting Preferred Stock to institutional and accredited investors. This private placement, led by RA Capital Management with participation from Bain Capital Life Sciences, Biotech Value Fund, and Canaan Partners, generated $240.0 million in gross proceeds. We used $85.0 million of these proceeds for the upfront payment under the Janssen License Agreement. The remaining $155.0 million is being used to develop CD388 as a universal preventative for seasonal and pandemic influenza A and B, starting with the CD388 Phase 2b NAVIGATE study, which we initiated in September 2024.