CDTX reported positive Ph2 outcome for its antifungal during 3/18 Cash runway will not finance the two Ph3 studies it must run will likely raise capital in 2018. Value of equity is being impacted by the fact that all its competing treatments will be generic by the time the CDTX antifungal is ready for launch. Equity is also being impacted by bearish sentiment for antibiotics in development. Market is uncertain about ample take-out values.