Cidara Therapeutics Inc (NASDAQ:CDTX) shares are trading higher on Friday after the biotech company made a recent announcement about their presentation at the upcoming ESWI 2025 conference. JP Morgan also initiated coverage of the stock, assigning it an Overweight rating and setting a price target of $200.
What Happened: Cidara announced it will be presenting at the European Scientific Working Group on Influenza’s 10th Conference taking place October 20-23 in Valencia, Spain. The presentation, scheduled for October 23, will cover translational efficacy data of CD388 in mouse influenza infection models and its application to prevention efficacy in the recently completed Phase 2b NAVIGATE clinical study.
CD388 is Cidara’s lead drug-fc conjugate candidate, designed as a long-acting antiviral to achieve universal prevention of seasonal and pandemic influenza with a single dose by directly inhibiting viral proliferation. The therapy received Fast Track Designation from the FDA in June 2023.
The company announced positive top-line results from its Phase 2b NAVIGATE trial in June 2025 and launched its Phase 3 ANCHOR trial in September 2025, making notable progress in the drug’s clinical development.
Cidara is using its proprietary Cloudbreak platform to develop DFC therapeutics that combine targeted small molecules or peptides with a proprietary human antibody fragment.
In addition, JP Morgan has initiated an Overweight rating on Cidara’s stock, setting a price target at a robust $200. This bullish outlook has added to the positive market sentiment for Cidara Therapeutics, seen in the company’s stock performance today.
CDTX Price Action: Cidara Therapeutics shares were up 3.01% at $114.10 during regular trading hours on Friday, according to Benzinga Pro.
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