How did CDTX's Q4 2023 earnings surprise the market?

Cidara Therapeutics (CDTX) reported an estimated EPS of -$0.1 and an estimated revenue of $11.53 million for Q4 2023. The market was likely expecting a positive surprise with earnings per share (EPS) higher than the reported -$0.1, as there were no indications of a negative surprise in the company's recent news articles. The revenue estimate was likely in line with the reported figure, as the company's focus on developing targeted therapies and the absence of any recent negative news suggesting revenue shortfalls would suggest a reasonable expectation of revenue recognition in the period.

The market may have had concerns about the company's financial performance, especially given the negative EPS surprise. However, the company's continued focus on developing novel drug-Fc conjugates through its Cloudbreak® platform could have provided some optimism for future revenue potential. Overall, the market reaction to CDTX's Q4 2023 earnings would likely be one of disappointment due to the negative EPS surprise, but with a nuanced understanding of the company's ongoing research and development efforts.