Cidara Therapeutics Announces Closing of Concurrent Public Offerings of Common Stock and Preferred Stock and Full Exercise of Underwriters’ Option to Purchase Additional Shares in Public Offering of Common Stock

SAN DIEGO, Oct. 13, 2021 (GLOBE NEWSWIRE) — Cidara Therapeutics, Inc. (Nasdaq: CDTX), a biotechnology company developing long-acting therapeutics designed to improve the standard of care for patients facing serious diseases, today announced the closing of its previously announced concurrent but separate underwritten public offerings of 17,064,511 shares of its common stock, including the exercise in full by the underwriters of their option to purchase an additional 2,225,805 shares of common stock, at a price to the public of $1.55 per share and 774,194 shares of its Series X Convertible Preferred Stock at a price to the public of $15.50 per share. The gross proceeds to Cidara from these offerings, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $38.5 million.

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