US Stock Market Move | Merck & Co., Inc. acquires Cidara Therapeutics for $920 million, causing the stock to surge over 105% at the opening.

On Friday, Cidara Therapeutics (CDTX.US) soared over 105% at the opening, reaching an eight-year high of $217.8. In terms of news, Merck & Co., Inc. (MRK.US) announced that it has reached a final agreement to acquire Cidara Therapeutics through its subsidiary for $221.50 per share in cash, with a total transaction value of around $9.2 billion. Cidara Therapeutics is a pharmaceutical company pioneering long-acting flu antibodies. The transaction has been approved by both boards of directors but still requires approval under the Hart-Scott-Rodino Antitrust Improvements Act (HSR) and other customary closing conditions. The transaction is expected to be completed in the first quarter of 2026. Lee D. Prologis, President of Merck & Co., Inc. Research Laboratories, stated that this acquisition expands and complements our respiratory product portfolio and research pipeline.