Cidara Therapeutics (NASDAQ:CDTX) has announced a planned workforce reduction, impacting approximately 30% of the company’s employees, enabling the company to reduce capital needs and concentrate on the clinical development of CD388, a novel DFC candidate for influenza A and B.
The company aims to focus efforts on its planned Phase 2b and potential subsequent trials investigating CD388 as a single-dose, universal preventative for influenza A and B. Concurrently, Cidara will continue business development discussions for oncology programs, CBO 421 and CD73 inhibitor, which recently received IND clearance to initiate a Phase 1 study.
“This workforce reduction was a challenging yet essential decision to ensure that we are using our resources efficiently to position Cidara for long-term success,” said Jeffrey Stein, Ph.D., president and CEO of Cidara. “I would like to express my gratitude to the team members being affected by this restructuring. Their contributions to the company, and the legacy of their dedication to Cidara’s mission will not be forgotten and will continue to shape our work and its impact on patients.”
