Cidara Therapeutics Stock Soars 113.51% to 319th Position in Market Rankings After $26.3 Million Trading Volume Surge

On June 23, 2025, Cidara Therapeutics (CDTX) experienced a significant surge in trading volume, with a total turnover of $26.3 million, marking a 3112.15% increase from the previous day. This substantial rise placed Cidara at the 319th position in the day's stock market rankings, with the stock price soaring by 113.51%.

Cidara Therapeutics announced positive topline results from its Phase 2b NAVIGATE trial, evaluating CD388, a non-vaccine preventative for seasonal influenza. The study successfully met its primary and all secondary efficacy endpoints across all dose groups. Single doses of 450mg, 300mg, and 150mg of CD388 demonstrated significant prevention efficacy, with the highest dose achieving a 76% prevention rate.

The positive results from the NAVIGATE trial have been well-received by investors, driving a remarkable surge in Cidara's stock price. The company's shares experienced a significant increase in premarket trading, reflecting the market's optimism about the potential of CD388 as a preventative treatment for influenza.

Following the announcement of the positive trial results, Cidara Therapeutics launched a $250 million equity offering. This move is seen as a strategic step to capitalize on the market's enthusiasm and to support the company's ongoing research and development efforts.

Analysts have also responded positively to the trial results, with some raising their price targets for Cidara's stock. The company's lead influenza drug-Fc conjugate candidate, CD388, has shown promising potential, and the market is eagerly anticipating further developments in its clinical trials.