India, April 25 -- Shares of Cidara Therapeutics, Inc. (CDTX) gained over 13% on Thursday morning after the company announced it reacquired global development and commercial rights to CD388.
CDTX is currently trading at $13.89, up $1.60 or 13.00%, on the Nasdaq. The stock opened its trading at $14.50 after closing Wednesday at $12.29. The stock has traded between $10.00 and $29.60 in the past 52-week period.
The company said it has entered into a definitive agreement with Johnson & Johnson to reacquire the exclusive global development and commercial rights to CD388, which is in development for the prevention of all strains of influenza A and B.
Concurrent with the acquisition, Cidara closed a definitive agreement for the sale of preferre...