By Nate Wolf
Shares of Cidara Therapeutics soared Friday after Merck & Co. agreed to acquire the biotechnology company for $9.2 billion.
Merck, the New Jersey-based pharmaceutical giant, will pay Cidara stockholders $221.50 a share in the all-cash deal. Cidara is currently developing a drug designed to prevent the flu and has at least three other therapies for solid tumors in its pipeline.
Cidara stock was up 103% to $215.50 in premarket trading Friday after closing at $105.99 on Thursday. Merck shares fell 1.2%.
Cidara's leading immunotherapy candidate, CD388, is in late-phase studies to combat influenza A and B in adults and adolescents at higher risk of developing complications. Last month, the Food and Drug Administration granted CD388 Breakthrough Therapy designation, which expedites the development and review of treatments that show potential improvement over available therapies in preliminary trials.
"This acquisition expands and complements our respiratory portfolio and pipeline," said Dr. Dean Y. Li, president of Merck Research Laboratories. "Influenza continues to pose a significant global health threat, causing widespread illness, morbidity and death each year especially in older adults and immunocompromised individuals, such as those with cancer and chronic diseases."
Merck CEO Robert M. Davis added that CD388 could be an "important driver of growth through the next decade."
The transaction is expected to close in the first quarter of 2026, the companies said.
Write to Nate Wolf at nate.wolf@barrons.com
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November 14, 2025 08:19 ET (13:19 GMT)
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