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Cidara Therapeutics Stock Surges 80% on Positive Phase 2b Trial Results
Cidara Therapeutics Stock Surges 80% on Positive Phase 2b Trial Results
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BTCCSquare news:
Cidara Therapeutics (CDTX) shares soared 83% Monday following successful Phase 2b NAVIGATE trial results for its influenza prevention drug CD388. The biotech firm demonstrated prevention efficacy ranging from 57.7% to 76.1% across different dosage levels, meeting all primary and secondary endpoints.
The breakthrough reverses the stock's 21.8% year-to-date decline, building on an 86% twelve-month rally. Wall Street maintains a Strong Buy consensus with a $42.33 price target, suggesting 101% upside potential. This development highlights the market's rapid response to clinical successes in the biopharma sector.
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