Cidara's FDA Approval of Antifungal Treatment Fails to Boost Stock Amid Lower Q4 Earnings.
Cidara Therapeutics received FDA approval for its antifungal treatment, Rezzayo, for treating candidemia and invasive candidiasis in adults with limited or no alternative treatment options. However, the company's Q4 earnings report showed lower than expected revenues and an EPS loss, causing a 15.8% drop in its stock price. The FDA approval enables Cidara to receive a $20 million regulatory milestone payment under its agreement with Melinta Therapeutics.