In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Cidara Therapeutics Inc. (NASDAQ:CDTX) reported that Prosight Management, Lp. has picked up 873,630 of common stock as of 2017-06-16.
The acquisition brings the aggregate amount owned by Prosight Management, Lp. to a total of 873,630 representing a 5.2% stake in the company.
For those not familiar with the company, Cidara Therapeutics, Inc., formerly K2 Therapeutics, Inc., is a clinical-stage biotechnology company. The Company is engaged in the discovery, development and commercialization of anti-infectives. It is developing a pipeline of product and development candidates with a focus on serious fungal infections. Its product portfolio consists of over two formulations of its echinocandin, CD101. CD101 IV is a long-acting therapy for the treatment and prevention of serious, invasive fungal infections. CD101 topical, its second product candidate, is being developed for the treatment of vulvovaginal candidiasis (VVC) and recurrent VVC (RVVC), a prevalent mucosal infection. Its immunotherapy technology platform, Cloudbreak, is used to create compounds designed to direct a patient’s immune cells to attack and eliminate pathogens that cause infectious disease. The Company is also developing CD201, its bispecific antimicrobial immunotherapy.
A glance at Cidara Therapeutics Inc. (NASDAQ:CDTX)’s key stats reveals a current market capitalization of $119.27 Million based on $16.81 Million shares outstanding and a price at last close of $6.90 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-06-07, Sandison picked up 19,344 at a purchase price of $5.90. This brings their total holding to 19,344 as of the date of the filing.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Cidara Therapeutics Inc. (NASDAQ:CDTX) as things move forward to see if its progress aligns with these transactions.
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