SEC Comment Letter 0000000000-23-006784 to Cidara Therapeutics, Inc. (CDTX) (CIK 0001610618)
Cidara Therapeutics, Inc. (CDTX) (CIK 0001610618)
Date: June 26, 2023 · CIK: 0001610618 · Accession: 0000000000-23-006784
AI Filing Summary & Sentiment
File numbers found in text: 001-36912
Letter
United States securities and exchange commission logo June 26, 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 reviewed your May 31, 2023 response to our comment letter 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.On page 3 of your response you state that you recognized revenue of $37.5 million from payments received in 2022 related to upfront and milestone payments. Please provide us with a reconciliation of how the $37.5 million ties to the revenue recognized in 2022 disclosed in the table on page 2 of your response. Also please clarify how the $19.2 million recognized for R&D services and clinical supplies services ties to the table on page 2 of the response. You may contact Vanessa Robertson at 202-551-3649 or Daniel Gordon at 202-551- 3486 with any questions.
FirstName LastNamePreetam Shah Comapany NameCidara Therapeutics, Inc. June 26, 2023 Page 2 FirstName LastName Preetam Shah Cidara Therapeutics, Inc. June 26, 2023 Page 2 Sincerely, Division of Corporation Finance Office of Life Sciences
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United States securities and exchange commission logo
June 26, 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 reviewed your May 31, 2023 response to our comment letter 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.On page 3 of your response you state that you recognized revenue of $37.5 million from
payments received in 2022 related to upfront and milestone payments. Please provide us
with a reconciliation of how the $37.5 million ties to the revenue recognized in 2022
disclosed in the table on page 2 of your response. Also please clarify how the $19.2
million recognized for R&D services and clinical supplies services ties to the table on
page 2 of the response.
You may contact Vanessa Robertson at 202-551-3649 or Daniel Gordon at 202-551-
3486 with any questions.
FirstName LastNamePreetam Shah
Comapany NameCidara Therapeutics, Inc.
June 26, 2023 Page 2
FirstName LastName
Preetam Shah
Cidara Therapeutics, Inc.
June 26, 2023
Page 2
Sincerely,
Division of Corporation Finance
Office of Life Sciences