The biotech industry has grown by leaps and bounds in recent times and investors could consider taking a look at Cidara Therapeutics stock. Yesterday, the stock was in action. After having started the trading session with a loss of 1.58%, the Artificial Intelligence Solutions stock traded flat for the rest of the day. The company made a key announcement on Tuesday and that might have been the reason behind the action in the stock. It reached a new mark of $1.87, an accounting decrease. Cidara Therapeutics announced today that its common stock and Series X Convertible Preferred Stock are being offered concurrently but separately underwritten public offerings.
Cidara also plans to provide the underwriters a 30-day option to acquire additional shares of its common stock at the public offering price in the common stock offering. Each planned offering’s completion is not reliant on the completion of the others. The offers are subject to market circumstances, and there is no guarantee that either or both of the offerings will be completed, or that the exact amount or terms of the offerings will be met. For each offering, Cantor Fitzgerald is serving as the only book-running manager.