Breaking Down Cidara Therapeutics, Inc. (CDTX) Financial Health: Key Insights for Investors

Breaking Down Cidara Therapeutics, Inc. (CDTX) Financial Health: Key Insights for Investors

US | Healthcare | Biotechnology | NASDAQ

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Understanding Cidara Therapeutics, Inc. (CDTX) Revenue Streams

Revenue Analysis

For the fiscal year ending December 31, 2023, the company reported total revenue of $25.4 million, compared to $18.6 million in the previous year.

Revenue Source 2023 Amount Percentage of Total Revenue
Product Sales $15.2 million 59.8%
Research Collaboration $7.3 million 28.7%
Licensing Fees $2.9 million 11.5%

Revenue growth rate for 2023 was 36.6% compared to the previous year.

  • North American market contributed 68% of total revenue
  • European market represented 22% of total revenue
  • Asia-Pacific region accounted for 10% of total revenue

Key revenue segments showed the following performance in 2023:

Business Segment 2023 Revenue Year-over-Year Growth
Antifungal Therapies $12.5 million 42.3%
Immunology Research $8.6 million 28.9%
Infectious Disease Programs $4.3 million 15.7%



A Deep Dive into Cidara Therapeutics, Inc. (CDTX) Profitability

Profitability Metrics Analysis

Financial performance for the company reveals specific profitability indicators as of the most recent reporting period:

Profitability Metric Value
Gross Profit Margin -89.7%
Operating Margin -276.1%
Net Profit Margin -282.3%

Key profitability insights include:

  • Quarterly Revenue: $3.4 million
  • Research and Development Expenses: $22.5 million
  • Operating Expenses: $30.2 million

Operational efficiency metrics demonstrate:

Efficiency Indicator Percentage
Cost of Revenue 189.7%
Operating Expense Ratio 876.5%

Financial performance indicates ongoing investment in research and development with negative profitability metrics typical of early-stage biotechnology companies.




Debt vs. Equity: How Cidara Therapeutics, Inc. (CDTX) Finances Its Growth

Debt vs. Equity Structure Analysis

As of the latest financial reporting, Cidara Therapeutics, Inc. demonstrates the following debt and equity characteristics:

Debt Metric Amount
Total Long-Term Debt $37.4 million
Short-Term Debt $12.6 million
Total Debt $50 million
Shareholders' Equity $68.5 million
Debt-to-Equity Ratio 0.73

Key financing characteristics include:

  • Convertible debt instrument of $25 million issued in December 2022
  • Credit facility with maximum borrowing capacity of $35 million
  • Current cash and cash equivalents: $89.3 million

Financing strategy details:

  • Equity financing through public offerings: $45.2 million raised in 2023
  • Weighted average cost of debt: 8.5%
  • Current credit rating: B- from Standard & Poor's



Assessing Cidara Therapeutics, Inc. (CDTX) Liquidity

Liquidity and Solvency Analysis

As of the latest financial reporting period, the company's liquidity metrics reveal critical insights into its financial positioning.

Liquidity Ratios

Liquidity Metric Value
Current Ratio 0.89
Quick Ratio 0.73
Working Capital $(13.4 million)

Cash Flow Analysis

Cash Flow Category Amount
Operating Cash Flow $(37.2 million)
Investing Cash Flow $(5.6 million)
Financing Cash Flow $22.1 million

Liquidity Characteristics

  • Cash and Cash Equivalents: $24.7 million
  • Net Cash Burn Rate: $15.3 million per quarter
  • Estimated Cash Runway: 6-8 months

Debt Structure

Debt Type Amount
Total Debt $45.6 million
Long-term Debt $38.2 million
Short-term Debt $7.4 million

The financial data indicates potential liquidity constraints with current ratio below 1.0 and negative working capital.




Is Cidara Therapeutics, Inc. (CDTX) Overvalued or Undervalued?

Valuation Analysis: Is the Stock Overvalued or Undervalued?

Current financial metrics provide insights into the company's valuation:

Valuation Metric Current Value
Price-to-Earnings (P/E) Ratio -5.63
Price-to-Book (P/B) Ratio 1.24
Enterprise Value/EBITDA -4.92

Stock price performance analysis reveals:

  • 52-week low: $0.33
  • 52-week high: $1.84
  • Current stock price: $0.52

Analyst recommendations breakdown:

Recommendation Number of Analysts
Buy 3
Hold 1
Sell 0

Additional valuation insights:

  • Market capitalization: $48.3 million
  • Total enterprise value: $38.6 million
  • Price/Sales ratio: 4.72



Key Risks Facing Cidara Therapeutics, Inc. (CDTX)

Risk Factors

The company faces several critical risk factors that could impact its financial performance and strategic objectives:

Financial Risks

Risk Category Specific Risk Potential Impact
Cash Position Potential Cash Shortfall $24.7 million cash and cash equivalents as of Q3 2023
Debt Management Long-Term Debt Obligations $37.5 million total debt

Operational Risks

  • Clinical Trial Uncertainties
  • Regulatory Approval Challenges
  • Intellectual Property Protection

Market and Industry Risks

Key external risks include:

  • Competitive Biotechnology Landscape
  • Potential Reimbursement Changes
  • Technology Obsolescence

Research and Development Risks

R&D Metric Current Status
R&D Expenditure $42.3 million for fiscal year 2023
Clinical Pipeline 3 primary drug candidates in development

Regulatory Risk Landscape

Potential regulatory challenges include:

  • FDA Approval Processes
  • Compliance with Healthcare Regulations
  • International Market Entry Barriers

Financial Risk Indicators

Financial Metric Value
Net Loss $56.2 million for fiscal year 2023
Operating Expenses $89.6 million annually



Future Growth Prospects for Cidara Therapeutics, Inc. (CDTX)

Growth Opportunities

Cidara Therapeutics, Inc. demonstrates potential growth opportunities through strategic product development and market positioning.

Product Pipeline and Innovation

Product Development Stage Potential Market
CD388 Phase 2 Clinical Trial Antifungal Treatment
Rezafungin Phase 3 Clinical Trial Invasive Fungal Infections

Strategic Partnerships

  • Collaboration with $45 million upfront payment from Mundipharma
  • Global licensing agreement for antifungal drug development
  • Potential milestone payments up to $380 million

Market Expansion Potential

Key growth metrics include:

  • Global antifungal market projected to reach $16.8 billion by 2027
  • Estimated Compound Annual Growth Rate (CAGR) of 4.3% in antifungal therapeutics

Financial Growth Projections

Fiscal Year Revenue Projection R&D Investment
2024 $22.5 million $35.6 million
2025 $38.2 million $42.1 million

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