H.C. Wainwright analyst Ed Arce raised the firm’s price target on Cidara Therapeutics to $6.50 from $6 and keeps a Buy rating on the shares after an FDA panel voted 14-1 in favor of rezafungin for the treatment of candidemia and invasive candidiasis in adults. The analyst believes once-weekly dosing allowing for early hospital discharge is the key differentiating factor for rezafungin. The near unanimous positive FDA panel vote greatly increases the likelihood of FDA approval this quarter, the analyst tells investors in a research note. The firm increased the probability of success for rezafungin in the U.S. to 93% from 90%.
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Published first on TheFly
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