Merck (NYSE: MRK) said that it has finalised a deal to buy Cidara Therapeutics, Inc. (Nasdaq: CDTX) for all cash for about $9.2 billion. Getting CD388, Cidara’s promising late-phase, long-acting antiviral candidate for influenza prevention, is the main goal of the acquisition, which values Cidara’s shares at $221.50 each.
In line with its science-led business development strategy, the action represents a major strategic investment by Merck to fortify and diversify its respiratory virus pipeline.
A Potentially First-in-Class Antiviral
The acquisition’s focal point is CD388, an experimental drug-Fc conjugate (DFC) intended to offer universal protection against influenza A and B. Since CD388’s action is independent of an immune response, unlike vaccines, it may be an essential prophylactic measure for people who are particularly vulnerable to serious influenza complications, including the elderly and those with weakened immune systems.
The strain-agnostic CD388 has already shown great promise. The U.S. Food and Drug Administration (FDA) awarded it both Fast Track Designation and Breakthrough Therapy Designation. A successful Phase 2b (NAVIGATE) study that prevented symptomatic, laboratory-confirmed influenza in healthy adults met all of its primary and secondary endpoints, providing support for this.
High-risk adult and adolescent participants are presently undergoing evaluation of the antiviral agent in a global Phase 3 (ANCHOR) study.
We continue to execute our science-led business development strategy, augmenting our pipeline with CD388,
We are confident that CD388 has the potential to be another important driver of growth through the next decade, creating real value for shareholders.
Robert M. Davi
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Transaction Details
Both companies’ boards of directors have unanimously approved the acquisition, which will be carried out through a tender offer. Merck will purchase all of Cidara’s outstanding shares through a subsidiary.
A majority of Cidara’s stockholders must tender their shares, and the Hart-Scott-Rodino Antitrust Improvements Act’s waiting period must pass, among other customary closing conditions. The transaction will be recorded as an asset acquisition and is anticipated to close in the first quarter of 2026.
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