NEW YORK, April 25, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Cidara Therapeutics, Inc. (“Cidara Therapeutics” or the “Company”) (NASDAQ: CDTX) on behalf of Cidara Therapeutics stockholders. Our investigation concerns whether Cidara Therapeutics has violated the federal securities laws and/or engaged in other unlawful business practices.
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On April 16, 2024, Cidara Therapeutics filed a current report on Form 8-K with the SEC. In this 8-K, Cidara Therapeutics announced that it’s “previously issued audited consolidated financial statements for the fiscal years ended December 31, 2021 and 2022 included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, and each of the Company’s previously issued unaudited condensed consolidated financial statements included in the Company’s Quarterly Reports on Form 10-Q for each of the quarterly periods in 2022 and 2023 (collectively, the “Prior Financial Statements”) filed with the [SEC] should no longer be relied upon and should be restated[.]”
Cidara Therapeutics further announced that its management had “concluded that the Company’s disclosure controls and procedures were not effective at the reasonable assurance level and the Company’s internal control over financial reporting was not effective as of the end of each of the periods covered by the restatement.”
On this news, the price of Cidara Therapeutics stock fell by $1.89 per share, or 11.46%, to close at $14.60 on April 16, 2024.
If you purchased or otherwise acquired Cidara Therapeutics shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
