Company Overview - Cidara Therapeutics, Inc. is a biotechnology company focused on developing drug-Fc conjugate (DFC) immunotherapies using its proprietary Cloudbreak® platform [1][3] - The company's lead DFC candidate, CD388, is designed for long-acting antiviral treatment aimed at universal prevention of seasonal and pandemic influenza with a single dose [3] Leadership Change - Frank Karbe has been appointed as the Chief Financial Officer (CFO) effective February 24, 2025, succeeding Preetam Shah, who will transition to a consulting role [1][2] - Karbe brings over 25 years of leadership experience in life sciences and healthcare, having previously served as CEO of Better Therapeutics and CFO of Myovant Sciences, where he played a key role in raising over $2 billion in capital [2] Clinical Development - Cidara is advancing its long-acting influenza antiviral drug CD388 through the Phase 2b NAVIGATE study, with plans for Phase 3 and beyond [2] - CD388 received Fast Track Designation from the FDA in June 2023, and a Phase 2b trial was initiated in September 2024 [3] Equity Awards - In connection with Karbe's appointment, Cidara's Compensation Committee granted him stock options and restricted stock units (RSUs) for a total of 172,500 shares, with a vesting schedule over four years [4][5] - The stock options will have an exercise price equal to the closing price of Cidara's common stock on the grant date [4] Inducement Incentive Plan - The equity awards were granted as an inducement for Karbe's employment, in accordance with Nasdaq Listing Rule 5635(c)(4) [5][6]
Cidara Therapeutics Announces Appointment of Frank Karbe as Chief Financial Officer