Why Cidara Therapeutics, Already Up 173% This Year, Just Hit A Five-Year High

Core Insights - Cidara Therapeutics (CDTX) shares have increased over 173% this year and reached a five-year high due to plans for expanding testing of its non-vaccine flu prevention drug [1][4] - Following a meeting with the FDA, Cidara has accelerated its Phase 3 testing plans by six months, aiming to align with the Northern Hemisphere flu season [2] - The FDA has encouraged the inclusion of older adults in the study, and Cidara believes a single final-phase study of its drug, CD388, could suffice for approval [2] Financial Projections - RBC Capital Markets analyst Brian Abrahams projects that over 5 million people could be on the drug in the future, estimating potential worldwide sales of $3.78 billion [3] - Abrahams has raised his price target for Cidara stock from $115 to $137, rating it as an outperform [3] Stock Performance - Cidara stock surged more than 17% to $86.11, marking its highest point since August 2020, and has more than tripled year-to-date [4] - The stock has achieved a perfect IBD Digital Relative Strength Rating of 99, indicating top performance over the past 12 months [4]