Merck & Co., Inc. (NYSE:MRK) agreed to acquire Cidara Therapeutics, Inc. (NasdaqCM:CDTX) on November 13, 2025. A cash consideration of approximately $9.2 billion valued at $221.5 per share will be paid by Merck & Co., Inc. As part of consideration, $9.2 billion is paid towards common equity of Cidara Therapeutics, Inc.
The closing of the proposed transaction will be subject to certain conditions, including the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other customary conditions. The acquisition is subject to a majority of Cidara?s stockholders tendering their shares in a tender offer that will be initiated by a subsidiary of Merck. The transaction has been approved by both Merck?s and Cidara's Boards of Directors. The transaction is expected to close in the first quarter of 2026.
BofA Securities, Inc. acted as financial advisor for Merck & Co., Inc. Gibson, Dunn & Crutcher LLP acted as legal advisor for Merck & Co., Inc. Evercore Inc. acted as financial advisor for Cidara Therapeutics, Inc. Goldman Sachs & Co. LLC acted as financial advisor for Cidara Therapeutics, Inc. Cooley LLP acted as legal advisor for Cidara Therapeutics, Inc.
Cidara Therapeutics, Inc. is a biotechnology company. The Company is developing targeted immunotherapies designed for patients facing serious diseases. The Companyâs portfolio comprises various treatment and prevention paradigms, including drug-Fc conjugate (DFC) from its Cloudbreak platform targeting oncologic, viral and autoimmune diseases. The Company is focused on advancing Cloudbreak development programs, including its lead oncology candidate, CBO421, as well as advancing other pipeline assets. CBO421 is a development candidate targeting CD73 for the treatment of solid tumors. Its advanced DFC program is CD388, a highly potent antiviral designed to deliver universal prevention and treatment of seasonal and pandemic influenza, which is in Phase I and Phase IIa clinical trials. Its additional programs target multiple autoimmune indications.
