Cidara Therapeutics Reports Inducement Grant Under Nasdaq Listing Rule 5635(C)(4)

Core Points - Cidara Therapeutics, Inc. announced the grant of stock options and restricted stock units (RSUs) to a new employee, Dipesh Bhatt, totaling 1,110 shares under the 2020 Inducement Incentive Plan, with an exercise price of $10.75 per share [1][2] - The stock options will vest over four years, with 25% vesting on the one-year anniversary and the remainder vesting in 36 equal monthly installments, while the RSUs will vest in four equal annual installments [1] - The equity award was granted as an inducement for the employee's entry into employment with Cidara, in compliance with Nasdaq Listing Rule 5635(c)(4) [2] Company Overview - Cidara Therapeutics utilizes its proprietary Cloudbreak® platform to develop drug-Fc conjugate (DFC) immunotherapies aimed at improving patient care for serious diseases [1][4] - The lead DFC candidate, CD388, is designed for universal prevention of seasonal and pandemic influenza with a single dose and has received Fast Track Designation from the FDA [4] - Cidara is also developing additional DFCs for oncology, including CBO421, which targets CD73 in solid tumors and received IND clearance in July 2024 [4]