** Shares of Cidara Therapeutics CDTX.O soar 96% to $208 premarket after a report Merck MRK.N is close to buying the drugmaker

** Financial Times reports MRK's potential deal values CDTX at a premium to co's $3.3 bln market capitalization

** FT says the buyout deal could be announced as soon as Friday

** MRK was competing with another pharma co before CDTX chose its offer, says FT

** U.S FDA last month, granted a "breakthrough therapy" for CDTX's experimental drug which aimed at preventing influenza A and B in people at high risk of severe illness

** As of last close, CDTX was up 294% year-to-date

(Reporting by Avinash P in Bengaluru)

((Avinash.P@Thomsonreuters.com))