Core Points - Cidara Therapeutics, Inc. announced the grant of stock options and restricted stock units (RSUs) to a new employee, Dipesh Bhatt, totaling 1,110 shares under the 2020 Inducement Incentive Plan, with an exercise price of $10.75 per share [1][2] - The stock options will vest over four years, with 25% vesting on the one-year anniversary and the remainder vesting in 36 equal monthly installments, while the RSUs will vest in four equal annual installments [1] - The equity award was granted as an inducement for the employee's entry into employment with Cidara, in compliance with Nasdaq Listing Rule 5635(c)(4) [2] Company Overview - Cidara Therapeutics utilizes its proprietary Cloudbreak® platform to develop drug-Fc conjugate (DFC) immunotherapies aimed at improving patient care for serious diseases [1][4] - The lead DFC candidate, CD388, is designed for universal prevention of seasonal and pandemic influenza with a single dose and has received Fast Track Designation from the FDA [4] - Cidara is also developing additional DFCs for oncology, including CBO421, which targets CD73 in solid tumors and received IND clearance in July 2024 [4]

The Federal Reserve has terminated a decade-long enforcement action against Citigroup Inc. (C) , which was filed over weaknesses in the bank's anti-money laundering (AML) practices.Background of Citigroup’s Enforcement ActionIn March 2023, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency raised concerns over insufficient controls and risk management practices pertaining to the Bank Secrecy Act (BSA) and AML requirements.The enforcement action didn’t include any fin ...

The Federal Reserve has terminated a decade-old enforcement action against Citigroup that focused on deficiencies tied to the banking giant’s anti-money laundering (AML) practices.On Oct. 1, the central bank announced the termination of the 2013 action — one that had not carried a fine. But the action does discuss several changes to various bank-wide efforts to monitor and address risk, and to report its findings periodically to regulators.In terms of the consent order itself, the Fed had brought its action ...

Citigroup Inc. (C) and Apollo Global Management Inc. (APO) have inked a deal for a subsidiary of Citigroup and certain affiliates of Apollo to establish a revolutionary $25-billion private credit, direct lending program. The program will initially focus on North America, potentially expanding to additional geographies. Both companies expect the program to finance approximately $25 billion of debt opportunities over the next several years, including corporate and financial sponsor transactions.  Citigroup an ...

Citigroup Inc. (C) is in the limelight with the Federal Reserve’s aggressive start to monetary policy easing. During the Sept. 17-18 FOMC meeting, the Fed lowered the interest rate by 50 basis points after more than four years. Currently, the Fed fund rates stand in the 4.75-5% range. The central bank also indicated two more rate cuts this year and four in 2025. This is expected to bring rates down to 3.4% by the end of next year.The rate cut is a positive development for banks like Citigroup, Wells Fargo ( ...

The most recent trading session ended with Citigroup (C) standing at $62.58, reflecting a +0.71% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a gain of 0.28% for the day. Meanwhile, the Dow experienced a rise of 0.15%, and the technology-dominated Nasdaq saw an increase of 0.15%.Heading into today, shares of the U.S. bank had 0% over the past month, lagging the Finance sector's gain of 3.08% and the S&P 500's gain of 2% in that time.Investors will be eager ...

Citigroup Inc.’s (C) plan to expand in China has met a snag with the U.S. regulators after the Federal Reserve imposed a penalty on the bank related to its data management and risk controls, per a Bloomberg report.The bank is currently awaiting a clearance letter from the U.S. Federal Reserve, which is required by Chinese authorities to verify Citigroup's regulatory standing. Without this letter, the bank cannot proceed with its plans to set up a standalone securities firm in China.The difficulties arose wh ...

Citi's plan to expand in China has reportedly hit a regulatory bump in America. The trouble stems from a penalty levied by the Federal Reserve against the banking giant over its data management and risk controls, Bloomberg News reported Monday (Sept. 23), citing sources familiar with the matter. According to the report, Citi faces delays in establishing a standalone securities office because it hasn't yet gotten a clearance letter from the Fed verifying its regulatory standing, something required by the gov ...

American Airlines is reportedly considering consolidating its business with a single credit card partner, potentially by making Citigroup its exclusive partner and dropping Barclays.The airline’s talks with banks and card networks are ongoing and the timing of an agreement is unknown, CNBC reported Friday (Sept. 20), citing unnamed sources.A deal could also face scrutiny from U.S. regulators, which in turn could delay or cancel any changes to the current arrangements, according to the report.Responding to t ...

The Federal Reserve’s aggressive start to monetary policy easing raised optimism among investors who expect this move to boost the profitability of Wall Street giants and smaller regional lenders. On Wednesday, the Fed Chairman, Jerome Powell, remarked the U.S. economy is "in good shape." He pointed out that risks of further cooling in the labor market have risen. With this, the central bank cut the interest rates by 50 basis points, bringing the Fed fund rates to the 4.75-5% range. This marks the end of an ...