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Here’s why Cidara Therapeutics Inc. (CDTX) stock is rising in the current market trading?

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Cidara Therapeutics Inc. (CDTX) stock surges by 4.89% in the current market trading session after CDTX stock announced that they have signed an agreement with Janssen Pharmaceuticals. Cidara is producing long-acting therapeutics that could revolutionize the treatment of patients with severe fungal or viral infections.

Agreement between CDTX and Janssen Pharmaceuticals

CDTX confirmed today that it has signed an exclusive international license and partnership agreement with Janssen Pharmaceuticals which is one of Janssen Pharmaceutical Companies of Johnson and Johnson with the goal, to produce, market and sell Cidara’s Cloudbreak antiviral conjugates (AVCs) for seasonal and pandemic influenza prevention and cure. The agreement has been facilitated by Johnson & Johnson innovation.

CDTX stock will be in charge of getting the first influenza AVC, CD388, into the clinic and through Phase 2 clinical development, while Janssen will be responsible of late-stage development, production, registration, and global commercialization under the agreement. Following this agreement CDRA is bound to get a payment of $27 million whereas Janssen will monetarily support all the upcoming research, development, making, and marketing for CD388. Also apart from the payment, CDTX will also receive an amount of $753 million approx., in budgeted R&D funding and in development, regulatory and commercial milestones, plus tiered royalties on worldwide sales in the mid to high single digits.

Efficacy of CD-388

CD388 is a long-acting antiviral immunotherapy that is intended to provide year-round protection against influenza. CD388 the newly launched drug of CDTX has the power to provide protection to people from all influenza strains, including seasonal and pandemic influenza A, influenza B, and large clinically characterized drug resistant influenza strains, by attacking a highly conserved area on the influenza virus. The agreement’s usefulness is contingent on all applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act expiring or being terminated sooner.

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