Cidara Therapeutics rose more than 30% before the market opened, sold assets and adjusted strategic focus

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Biotechnology company Cidara Therapeutics continued to rise by more than 30% before the market opened, trading at $16.

The company said it will sell candidiasis treatment rezafungin to partners and buy back the license for its potential flu prevention treatment.

The sale is expected to save approximately $128 million over the life of the patent, more than half of which will be spent on clinical development costs.

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