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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