Merck Nears $9.2B Acquisition of Cidara Therapeutics, Sending Stock Soaring
Merck & Co. is finalizing a landmark acquisition of Cidara Therapeutics at $221.50 per share, a deal potentially worth $9.2 billion. The biotech firm's shares nearly doubled in premarket trading following the announcement, reflecting Wall Street's approval of the strategic move.
The transaction centers on Cidara's promising CD388 antibody therapy, which demonstrated 76% efficacy against influenza in Phase 2 trials and holds FDA breakthrough designation. Merck's pursuit of the flu treatment comes as it prepares for the 2028 patent expiration of its blockbuster cancer drug Keytruda.
Industry analysts note the premium price reflects both the therapy's potential and the intense competition among pharmaceutical giants for innovative biologics. The deal, expected to close imminently, WOULD mark one of the largest biotech acquisitions of 2025.
