I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community.
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SAN DIEGO, August 12, 2019 – Shares of Cidara Therapeutics Inc. (NASDAQ: CDTX) showed no change to $1.30. The stock grabbed the investor’s attention and traded 104.571K shares as compared to its average daily volume of 161.04K shares. The stock’s institutional ownership stands at 69.20%.
Cidara Therapeutics, Inc. (CDTX) reported net loss of $16.60M for the three months ended March 31, 2019, contrast to a net loss of $16.70M for the first quarter of 2018.
First Quarter 2019 Financial Results:
- Cash, cash equivalents and short-term investments totaled $57.40M as of March 31, 2019, contrast with $74.60M as of December 31, 2018.
- As of April 30, 2019, Cidara had 26.641M shares of common stock outstanding and 565.231K shares of Series X convertible preferred stock outstanding, which are convertible into 5.652M shares of common stock.
- Research and development expenses were $12.70M for the three months ended March 31, 2019, contrast to $13.20M for the same period in 2018. The decrease was mainly attributable to clinical development activities for rezafungin.
- General and administrative expenses were $3.70M for the three months ended March 31, 2019, contrast to $3.60M for the same period in 2018.
CDTX has a market value of $35.19M while its EPS was booked as $-2.66 in the last 12 months. The stock has 27.07M shares outstanding. Beta value of the company was 2.17; beta is used to measure riskiness of the security. Analyst recommendation for this stock stands at 1.80.