SEC Comment Letter 0000000000-23-004355 to Cidara Therapeutics, Inc. (CDTX) (CIK 0001610618)
Cidara Therapeutics, Inc. (CDTX) (CIK 0001610618)
Date: April 28, 2023 · CIK: 0001610618 · Accession: 0000000000-23-004355
AI Filing Summary & Sentiment
File numbers found in text: 001-36912
Letter
United States securities and exchange commission logo April 28, 2023 Preetam Shah Chief Financial Officer Cidara Therapeutics, Inc. 6310 Nancy Ridge Dr, Suite 101 San Diego, CA 92121 Re:Cidara Therapeutics, Inc. Form 10-K for the fiscal year ended December 31, 2022 Filed March 23, 2023 File No. 001-36912 Dear Preetam Shah: We have limited our review of your filing to the financial statements and related disclosures and have the following comment. In our comment, we may ask you to provide us with information so we may better understand your disclosure. Please respond to this comment within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to this comment, we may have additional comments. Form 10-K for the fiscal year ended December 31, 2022 Notes to Consolidated Financial Statements 8. Significant Agreements and Contracts, page 95 1.You disclose on page 74 that revenue for the years ended December 31, 2022 and 2021 included, in part, the achievement of milestones. Please provide us an analysis, and revise your future filings, to break out the amount shown in the line item 'License of Intellectual Property' on page 101 between the amount recognized upon transfer of the license and the amounts recognized as milestones were achieved. In addition, provide us with a reconciliation of the amounts disclosed on page 100 for 'Payments received in advance' and 'Revenue from performance obligations satisfied during reporting period'. Clarify how these amounts reconcile to revenue recognized and the amounts disclosed in the filing as received as of December 31, 2022. Further, provide us with the calculations for the amounts disclosed under the table on page 100 for the aggregate transaction price allocated to performance obligations that are unsatisfied for each agreement separately.
FirstName LastNamePreetam Shah Comapany NameCidara Therapeutics, Inc. April 28, 2023 Page 2 FirstName LastName Preetam Shah Cidara Therapeutics, Inc. April 28, 2023 Page 2 In closing, we remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. You may contact Vanessa Robertson at 202-551-3649 or Daniel Gordon at 202-551-3486 with any questions. Sincerely, Division of Corporation Finance Office of Life Sciences
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United States securities and exchange commission logo
April 28, 2023
Preetam Shah
Chief Financial Officer
Cidara Therapeutics, Inc.
6310 Nancy Ridge Dr, Suite 101
San Diego, CA 92121
Re:Cidara Therapeutics, Inc.
Form 10-K for the fiscal year ended December 31, 2022
Filed March 23, 2023
File No. 001-36912
Dear Preetam Shah:
We have limited our review of your filing to the financial statements and related
disclosures and have the following comment. In our comment, we may ask you to provide us
with information so we may better understand your disclosure.
Please respond to this comment within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe our
comment applies to your facts and circumstances, please tell us why in your response.
After reviewing your response to this comment, we may have additional comments.
Form 10-K for the fiscal year ended December 31, 2022
Notes to Consolidated Financial Statements
8. Significant Agreements and Contracts, page 95
1.You disclose on page 74 that revenue for the years ended December 31, 2022 and 2021
included, in part, the achievement of milestones. Please provide us an analysis, and revise
your future filings, to break out the amount shown in the line item 'License of Intellectual
Property' on page 101 between the amount recognized upon transfer of the license and the
amounts recognized as milestones were achieved. In addition, provide us with a
reconciliation of the amounts disclosed on page 100 for 'Payments received in advance'
and 'Revenue from performance obligations satisfied during reporting period'. Clarify how
these amounts reconcile to revenue recognized and the amounts disclosed in the filing as
received as of December 31, 2022. Further, provide us with the calculations for the
amounts disclosed under the table on page 100 for the aggregate transaction price
allocated to performance obligations that are unsatisfied for each agreement separately.
FirstName LastNamePreetam Shah
Comapany NameCidara Therapeutics, Inc.
April 28, 2023 Page 2
FirstName LastName
Preetam Shah
Cidara Therapeutics, Inc.
April 28, 2023
Page 2
In closing, we remind you that the company and its management are responsible for the
accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or
absence of action by the staff.
You may contact Vanessa Robertson at 202-551-3649 or Daniel Gordon at 202-551-3486
with any questions.
Sincerely,
Division of Corporation Finance
Office of Life Sciences