Cidara Therapeutics(US:CDTX)2025-05-07 16:00Summary of Sadara Therapeutics Conference Call Company Overview - Sadara Therapeutics was founded in early 2014, focusing on bispecific immunotherapy for infectious diseases [3] - The company advanced an antifungal drug to approval before pivoting to the development of CD388, a drug targeting influenza [4] Core Product and Development - CD388 is a small molecule inhibitor of viral neuraminidase, crucial for the flu virus's exit from infected cells [4] - Sadara reacquired global rights to CD388 through a $240 million financing, enabling the initiation of a 5,000-subject Phase 2b study [7] - The Phase 2b study commenced in September 2022 and completed enrollment in December 2022, coinciding with a severe flu season [7][33] Clinical Data and Efficacy - The Phase 2a study showed a 57% placebo-adjusted response rate, with expectations for the Phase 2b study to meet or exceed this figure [26] - CD388 is not a vaccine; it has a half-life of 6-8 weeks and is dosed once per flu season [13] - The drug's mechanism does not rely on the immune system, making it effective in both immunocompromised and healthy populations [27][36] Target Population - The target population for CD388 includes high-risk, immunocompromised individuals, who have a mortality rate from influenza comparable to that of breast cancer [31] Future Plans and Research - Sadara plans to advance its oncology pipeline, including a CD73 inhibitor for triple-negative breast cancer [47] - The company is also considering opportunities in other infectious diseases, such as RSV [47] Financial Position - As of the end of the previous year, Sadara reported $196 million in cash, sufficient to last until the second half of 2027 without starting a Phase 3 study [50] - The company is in discussions for potential partnerships, especially if Phase 2b results are positive [51] Market Capitalization - The current market cap is reported at $250 million based on common shares, but the fully diluted market cap is approximately $700 million due to preferred shares [52][53] Upcoming Events - Sadara will hold an R&D day on May 22, where they will discuss the flu season's severity and the statistical analysis plan for the Phase 2b data [42][46]