Merck to Acquire Cidara for $221.50 Per Share in $9.2 Billion Deal; CDTX Spikes
Merck (NYSE: MRK) has announced plans to acquire Cidara Therapeutics (NASDAQ: CDTX) in a cash deal valued at $221.50 per share, bringing the total transaction value to approximately $9.2 billion.
Following the announcement, Cidara’s stock surged over 100% in pre-market trading.
Cidara’s flagship candidate, CD388, is a long-acting, strain-agnostic antiviral agent currently in Phase 3 trials. It is designed to prevent influenza infections in individuals at higher risk of severe complications. The U.S. Food and Drug Administration (FDA) has granted CD388 Breakthrough Therapy Designation, supported by positive results from the Phase 2b NAVIGATE study. The study successfully met all primary and secondary endpoints, demonstrating efficacy in preventing symptomatic, laboratory-confirmed influenza in healthy, unvaccinated adults aged 18 to 64.
“This acquisition strengthens and enhances our respiratory portfolio and pipeline,” said Dr. Dean Y. Li, president of Merck Research Laboratories.
The Financial Times, which initially reported the deal, noted that the transaction values Cidara at a significant premium to its $3.3 billion market capitalization. An official announcement could come as early as Friday.
The acquisition has received approval from both companies’ boards and is pending HSR clearance and other standard closing conditions. The transaction, expected to close in Q1 2026, will be accounted for as an asset acquisition.
