Cidara shares tank af­ter lead an­ti­fun­gal pro­gram flops in PhII

Shares of Cidara Ther­a­peu­tics $CDTX tanked Tues­day morn­ing af­ter the up­start an­ti­fun­gal biotech said its lead pro­gram foundered in Phase II.

In­ves­ti­ga­tors went look­ing for ef­fi­ca­cy da­ta on gel and oint­ment for­mu­la­tions of their CD101 for acute vul­vo­vagi­nal can­didi­a­sis, but found that it had sig­nif­i­cant­ly low­er cure rates com­pared to oral flu­cona­zole, which is com­mon­ly used to treat fun­gal in­fec­tions. There might have been a way for­ward, but CEO Jeff Stein opt­ed to con­tin­ue the work on an IV pro­gram for CD101 in can­didemia and drop the top­i­cal ef­fort while re­fo­cus­ing the pipeline.

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