8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 12, 2020

Cidara Therapeutics, Inc.

(Exact name of registrant as specified in its charter)

Delaware	001-36912	46-1537286
(State or Other Jurisdiction of Incorporation or Organization)	(Commission File Number)	(I.R.S. Employer Identification Number)

6310 Nancy Ride Drive, Suite 101

San Diego, California 92121

(858) 752-6170

(Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant’s Principal Executive Offices)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, Par Value $0.0001 Per Share	CDTX	The Nasdaq Global Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events.

On February 12, 2020, Cidara Therapeutics, Inc. issued a press release announcing the closing of its previously announced rights offering to certain security holders. A copy of the press release is filed as Exhibit 99.1 hereto.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Description
99.1	Press Release dated February 12, 2020.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Cidara Therapeutics, Inc.
Date: February 12, 2020	/s/ Jeffrey L. Stein
	Jeffrey L. Stein
	President and Chief Executive Officer

EX-99.1

Exhibit 99.1

CIDARA THERAPEUTICS ANNOUNCES CLOSING OF RIGHTS OFFERING

SAN DIEGO, Feb. 12, 2020 -- Cidara Therapeutics, Inc. (Nasdaq: CDTX) (“Cidara”) today announced the closing of its previously announced rights offering (the “Rights Offering”). At the closing, Cidara sold and issued an aggregate of 6,639,307 shares of its common stock (the “Common Stock”) and an aggregate of 531,288 shares of its Series X convertible preferred stock (“Series X Preferred Stock”), pursuant to the exercise of subscription rights in the Rights Offering from its existing holders of Common Stock, Series X Preferred Stock and Cidara’s warrants issued on May 21, 2018.  Of the total shares of Common Stock and Series X Preferred Stock sold and issued in the Rights Offering, BVF Partners L.P., a Cidara stockholder and warrant holder, purchased 587,244 shares of Common Stock and 531,288 shares of Series X Preferred Stock and Stonepine Capital, LP, a Cidara warrant holder, purchased 1,554,050 shares of Common Stock, pursuant to the exercise of their subscription and oversubscription rights. Cidara raised aggregate gross proceeds of approximately $30.0 million.

The Rights Offering was made pursuant to Cidara’s effective shelf registration statement on file with the Securities and Exchange Commission (the “SEC”) (File No. 333-228268) and a prospectus supplement and accompanying prospectus filed with the SEC on January 22, 2020.

About Cidara Therapeutics

Cidara is a clinical-stage biotechnology company focused on the discovery, development and commercialization of novel anti-infectives that have the potential to transform the standard of care and save or improve patients’ lives. Cidara is currently advancing its novel echinocandin antifungal, rezafungin acetate, in a Phase 3 clinical trial for the first-line treatment of candidemia and/or invasive candidiasis (ReSTORE). Cidara is also advancing a second Phase 3 trial of once-weekly rezafungin for prophylaxis against invasive fungal infections in patients undergoing allogeneic blood and marrow transplantation (ReSPECT) initially in Europe and Canada. In addition to its robust rezafungin clinical program, Cidara is applying its proprietary Cloudbreak(R) platform to develop antiviral conjugates (AVCs) for the prevention and treatment of influenza and other viral diseases. The Cloudbreak platform is designed to discover compounds that both directly kill pathogens and direct a patient’s immune system to attack and eliminate pathogens. Cidara is headquartered in San Diego, California.

INVESTOR CONTACT:

Brian Ritchie

LifeSci Advisors

(212) 915-2578

britchie@lifesciadvisors.com

MEDIA CONTACT:

Karen O’Shea, Ph.D.

LifeSci Communications

(929) 469-3860

koshea@lifescicomms.com