Cidara Therapeutics, Inc. (CDTX)Cheap stock. Closed at .78/share
Has a new drug coming out. This past Friday the FDA Staff Report came out. My doctor friend found the report enthusiastic about the drug. It is a drug for serious fungal infections. It’s given once a week. The FDA Advisory Committee is announcing their recommendation on Tuesday. They base it on the Staff Report. They’ll likely recommend it be approved. The FDA will meet in March to announce final approval or not.
The stock had a 40% drop on Friday at 10:00 am. IDK why. IDK when the FDA Staff Report announcement was, but I’m guessing the drop was in response to it.
The drug works against fungal infections. The company website is talking about using it for cancer patients. My Dr friend sees a large market in nursing home patients. Reduces administrative cost, even if it’s more expensive than the alternative. If these patients were sent to a hospital for treatment, the hospital can send them back much quicker than a 7 or 10 day course of medicine. CDTX Has engaged Melinta Therapeutics to market it. Maybe they'll do a good job. Either way, hospitals and nursing homes will likely use this. Long term. This is the only such drug that’s once a week. There also has not been such an anti-viral approved in a few years.
The company may not pop after Tuesday’s FDA announcement even if they do recommend the drug for approval. But it’s likely to have steady sales into the future.
I’m in.
