Merck Closes Its Purchase Of All Of Cidara Thera, As Expected: Power Alley Stuff.

As we earlier reported in November, this will complement Rahway's offerings in the flu therapies spaces.

It will result in a charge of $0.30 per share, to this year's GAAP results -- and an in-process R&D expense of about $3.65 a share. Still it is a very savvy move by the leaders of Merck. Here's the closing presser, this morning, and a bit:

. . .[Merck] today announced the successful completion of the cash tender offer, through a subsidiary, for all the outstanding shares of common stock of Cidara Therapeutics, Inc. . . .

"The acquisition of Cidara strengthens and complements our expanding respiratory portfolio and exemplifies our business development strategy of investing where compelling science and value meet," said Robert M. Davis, chairman and chief executive officer, Merck. "CD388, a potentially first-in-class, long-acting antiviral with strain-agnostic properties, underscores that approach. We look forward to building on Cidara’s progress and further evaluating the potential of this candidate for the prevention of symptomatic influenza in certain individuals at high risk of complications."

Merck completed the cash offer at a purchase price of $221.50 per share of common stock of Cidara, without interest and subject to deduction for any required tax withholding. As of the tender offer expiration at one minute after 11:59 p.m., Eastern Time, on January 6. . . approximately 85.96% of the total number of Cidara’s issued and outstanding shares of common stock [had been tendered]. All such shares have been accepted for payment in accordance with the terms of the tender offer, and Merck expects to promptly pay for such shares. . . .

Cidara will become a wholly owned subsidiary of Merck and the common stock of Cidara will no longer be listed or traded on the Nasdaq Global Market. The acquisition is expected to be accounted for as an asset acquisition, resulting in a charge that will increase 2026 research and development expenses by approximately $9.0 billion or approximately $3.65 per share, included in GAAP and non-GAAP results. Additionally, GAAP and non-GAAP EPS are expected to be negatively impacted by approximately $0.30 per share in the first 12 months [post closing]. . . .

Now you know. And so, we head ever onward -- to an unseasonably warm, if gray, morning in the steel and glass canyons. Grin. . . .

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