Needham raised the firm’s price target on Cidara Therapeutics (CDTX) to $100 from $74 and keeps a Buy rating on the shares. The firm believes the updates on the company’s CD388 flu program were better than investors had anticipated, with key takeaways being: alignment with the FDA that a single Phase 3 trial will be sufficient for biologics license application approval; the phase 3 trial will be expanded to include healthy 65+ year-old subjects, and; the phase 3 trial will start this month to include the Northern Hemisphere flu season, which moves up the development timeline by about six months from the firm’s previous base-case scenario.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CDTX:
- Cidara Therapeutics’ Accelerated Path to BLA Approval and Expanded Market Potential Boosts Buy Rating
- Accelerated Phase 3 Study and Expanded Market Potential Make Cidara Therapeutics a Strong Buy
- Cidara Therapeutics price target raised to $167 from $70 at Guggenheim
- Cidara announced several positive CD388 updates, says H.C. Wainwright
- Cidara Therapeutics price target raised to $137 from $115 at RBC Capital