Cidara (CDTX) Climbs 105% on $9.2-Billion Merger with Merck

We recently published 10 Market Movers That Made Millionaires in a Week. Cidara Therapeutics Inc. (NASDAQ:CDTX) is one of the best-performing stocks of the past trading week.

Cidara Therapeutics soared by more than 100 percent week-on-week, as investors repositioned portfolios following news that it is set to be acquired by Merck Co. for $9.2 billion.

On Friday alone, Cidara Therapeutics Inc. (NASDAQ:CDTX) climbed to as high as $218.85 before trimming gains to end the day just up by 105.41 percent at $217.71 apiece.

This followed news that Cidara Therapeutics Inc. (NASDAQ:CDTX) entered into a definitive agreement with Merck, under which the latter would acquire its shares at a price of $221.50 apiece, through its subsidiary.

The companies expect to close the transaction in the first quarter of 2026.

The acquisition followed Cidara Therapeutics, Inc. (NASDAQ:CDTX) receipt of a fast track designation from the Food and Drug Administration for its drug candidate, CD388, which aims to prevent influenza in individuals at higher risk of complications.

Cidara (CDTX) Climbs 105% on $9.2-Billion Merger with Merck

Photo by National Cancer Institute on Unsplash

The CD388 is currently being evaluated in a Phase 3 study among adult and adolescent participants who are at higher risk of developing complications from influenza.

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Disclosure: None. This article is originally published at Insider Monkey.