- Merck will acquire Cidara for $9.2 billion.
- The acquisition includes CD388, a late-phase antiviral for influenza.
- The transaction is expected to close in Q1 2026.
- The deal is subject to regulatory approvals and conditions.
Acquisition Details
Merck, through a subsidiary, will acquire Cidara Therapeutics for $221.50 per share in cash, totaling approximately $9.2 billion. The transaction has been approved by both companies' Boards of Directors and is expected to close in the first quarter of 2026, subject to regulatory approvals and other customary conditions.
CD388: A Key Asset
Cidara's lead candidate, CD388, is a small molecule neuraminidase inhibitor conjugated to a proprietary Fc fragment of a human antibody. It is designed to prevent influenza A and B in high-risk individuals. CD388 is currently in the Phase 3 ANCHOR study and has received Breakthrough Therapy Designation from the FDA, supported by successful Phase 2b NAVIGATE study results.
Strategic Implications
This acquisition aims to enhance Merck's respiratory portfolio and pipeline, addressing the global health threat posed by influenza. CD388's strain-agnostic properties make it a promising candidate for preventing symptomatic influenza in high-risk groups, including older adults and immunocompromised individuals.
Regulatory and Closing Conditions
The acquisition is contingent upon a majority of Cidara’s stockholders tendering their shares in a tender offer initiated by a Merck subsidiary. It also requires the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other customary conditions.
