Merck Nears $3.3B Deal to Acquire Cidara Therapeutics

Merck is reportedly nearing an agreement to acquire Cidara Therapeutics, in a deal that would value the biotechnology firm above its current $3.3 billion market capitalization.

The acquisition could be announced as early as Friday, provided there are no last-minute obstacles. Merck was competing with another pharmaceutical company for Cidara before ultimately being selected.

While the exact terms of the transaction remain undisclosed, the deal is expected to include a combination of upfront cash and milestone-based payments linked to the achievement of clinical trial objectives.

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Cidara Therapeutics declined to comment on the matter, and Merck did not immediately respond to requests for comment.

Recently, the U.S. Food and Drug Administration granted breakthrough therapy designation to Cidara’s experimental drug CD388, designed to prevent influenza A and B in individuals at high risk of severe illness. This designation is intended to accelerate the development and review of treatments for serious conditions or unmet medical needs.