Merck & Co., Inc. (MRK) entered a merger agreement on November 14, 2025, to acquire Cidara Therapeutics, Inc. (CDTX) in an all-cash deal valued at $9.2 billion.
Merck, through a subsidiary, will acquire Cidara for $221.5 per share in cash, representing a premium of 108.98% from the stock’s last close.
Cidara is a San Diego–based biotechnology company developing long-acting anti-infectives and novel drug-Fc conjugates through its Cloudbreak platform, with programs spanning influenza prevention (including lead candidate CD388) and treatments for serious fungal and viral infections.
Merck is a global biopharmaceutical company focused on developing innovative medicines and vaccines for humans and animals, operating across pharmaceutical and animal health segments to address major diseases and advance global health.
Cidara’s main drug candidate, CD388, is a flu prevention medicine. It combines a small-molecule flu blocker with a specially engineered antibody fragment to protect against both influenza A and B. CD388 is now being tested in a Phase 3 trial (ANCHOR) in adults and teens who have a higher risk of serious flu complications.
Because earlier Phase 2b results (NAVIGATE) showed that CD388 successfully met all goals for preventing symptomatic, lab-confirmed flu in healthy, unvaccinated adults, the FDA granted it Breakthrough Therapy status, which is given to treatments that may offer major improvements. CD388 already had Fast Track Designation by the FDA as well.
The deal is expected to close in the first quarter of 2026.
Evercore and Goldman Sachs served as financial advisors to Cidara, with Cooley providing legal counsel. BofA Securities advised Merck on financial matters, and Gibson Dunn acted as Merck’s legal counsel.
For more in-depth information about this merger and acquisition transaction, visit the Deal Metrics page here:
Deal Metrics for the acquisition of Cidara Therapeutics, Inc. (CDTX) by Merck & Co., Inc. (MRK)
The Deal Metrics page includes:
– A spread history chart of the merger from announcement through completion or failure.
– Significant events as the merger progresses through the HSR period, regulatory approvals, shareholder votes, and more.
– News and SEC filings related to the merger.
– A history of deal updates.
– And much more.
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Editor’s Note: Baranjot Kaur contributed to this article