07:04 AM EST, 11/14/2025 (MT Newswires) -- Merck ( MRK ) said Friday it has agreed for a subsidiary to acquire all outstanding shares of Cidara Therapeutics ( CDTX ) for $221.50 per share in cash, valuing the transaction at about $9.2 billion.

The company said the transaction has been approved by the boards of both companies.

The acquisition is subject to a majority of Cidara's stockholders tendering their shares in a tender offer that will be launched by a Merck ( MRK ) subsidiary, the company said.

The transaction, which is subject to the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other customary conditions, is expected to close in the first quarter of 2026. Merck ( MRK ) said the deal would be accounted for as an asset acquisition.

Cidara's lead candidate is CD388, an investigational long-acting, strain-agnostic antiviral agent currently in phase 3 and designed to prevent influenza infection in individuals at higher risk of complications.

Cidara Therapeutics ( CDTX ) shares were up more than 104% in recent pre-bell activity Friday.