Business / Finance

Cidara Therapeutics Gains On Election To Proceed Notice For CD388 From Janssen

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2023-09-06 14:02:53  • 2 mins

(RTTNews) - Cidara Therapeutics, Inc. (CDTX) shares are gaining more than 18 percent on Wednesday morning trade after the company announced that Janssen Pharmaceuticals, Inc. has delivered to Cidara its Election to Proceed Notice for CD388 (JNJ-0953) which is being developed for the universal prevention of influenza A and B.

As per the notice, the responsibility for future development, manufacturing, and commercialization activities of CD388 will be assumed by Janssen, which intends to transfer its rights and obligations under the agreement to another entity. Janssen Pharma is one of the Janssen Pharmaceutical Companies of Johnson & Johnson.

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