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Finance Watch: Investors Support Strategic Shifts At Cullinan, Cidara

 
• By Mandy Jackson

Public Company Edition: Cullinan and Cidara shifted their strategic directions and found investors to bring along for the ride. Also, Intra-Cellular closed a post-Phase III $575m follow-on offering and Tarsus accessed up to $200m from Pharmakon.

Finance Watch Public Company
• Source: Alamy

A lot of biopharmaceutical companies have changed their strategies during the past year or two with investors less receptive to stock offerings in 2022 and 2023 than they were in the two prior years, with a lot of those strategic shifts driven by dwindling cash reserves. However, Cullinan Therapeutics Inc. and Cidara Therapeutics, Inc. recently rerouted their strategic directions and simultaneously lined up investors to come along for the ride.

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