We recently published 10 Market Movers That Made Millionaires in a Week. Cidara Therapeutics Inc. 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. 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. 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. 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.
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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This article is originally published at Insider Monkey.
