SCHEDULE: BVF Group Reduces Cidara Therapeutics Stake Below 5%

Biotechnology Value Fund and its affiliates have reported a reduction in their beneficial ownership of Cidara Therapeutics, Inc. common stock to 4.4%, falling below the 5% threshold.

Summary

• Biotechnology Value Fund, L.P. (BVF) and its affiliated entities, including BVF I GP LLC, Biotechnology Value Fund II, L.P. (BVF2), BVF II GP LLC, Biotechnology Value Trading Fund OS LP, BVF Partners OS Ltd., BVF GP Holdings LLC, BVF Partners L.P., BVF Inc., and Mark N. Lampert, have filed an Amendment No. 10 to their Schedule 13G.
• As of October 17, 2025, the aggregate beneficial ownership of Cidara Therapeutics, Inc. common stock by Partners, BVF Inc., and Mark N. Lampert is 1,189,165 shares, representing approximately 4.4% of the outstanding class.
• This aggregate ownership is below the 5% threshold, which typically triggers a Schedule 13D filing or continued 13G reporting for significant beneficial owners.
• Individual beneficial ownership percentages include BVF at 2.3% (635,200 shares), BVF2 at 1.7% (461,474 shares), and Biotechnology Value Trading Fund OS LP at 0.3% (73,866 shares).
• The percentage of class calculation is based on 25,358,051 shares outstanding as of August 6, 2025, plus 280,865 shares issued on August 18, 2025, from pre-funded warrant exercises, 487,603 shares from Series X Convertible Preferred Stock conversion, and 1,039,990 shares from Series A Convertible Preferred Stock conversion, all issued to the Reporting Persons on August 18, 2025.

Sentiment

Score: 4

Explanation: The filing reports a reduction in a significant institutional investor's stake below the 5% threshold, which is generally perceived as a negative signal for the company's stock, although it is a neutral disclosure from the filer's perspective.

Negatives

• The aggregate beneficial ownership by the Biotechnology Value Fund group has fallen below 5% of Cidara Therapeutics' outstanding common stock, indicating a reduction in their stake.
• A decrease in significant institutional ownership can sometimes be perceived negatively by the market, suggesting a lack of conviction or reallocation of capital.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: May interpret the reduction in institutional ownership as a negative signal, potentially impacting investor confidence and stock price.

Key Dates

Keywords

Cidara Therapeutics, CDTX, SEC filing, Schedule 13G, beneficial ownership, institutional ownership, Biotechnology Value Fund, BVF, Mark N. Lampert, common stock, equity stake