Cidara Therapeutics Inc (CDTX)

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Deadly fungal infection sweeps across U.S.
Mar. 22, 2023 12:23 PM ETSCYNEXIS, Inc. (SCYX), PFE, CDTXGSKBy: Dulan Lokuwithana, SA News Editor 231 Comments
Candida auris, a pathogenic yeast that causes candidiasis and has acquired multiple drug resistance.
selvanegra

Update 12.23 PM EST: Adds comments from Cantor Fitzgerald

A rare and often deadly fungal species is fast spreading across the U.S., infectious-disease specialists have warned, amid concerns of potential drug resistance.

The fungus, a type of yeast called Candida auris, first detected about 15 years ago in Japan, has made a comeback in the U.S., accounting for at least 2,377 infections in 2022, up from 53 in 2016, according to the Centers for Disease Control and Prevention (CDC).

The CDC added that Candida auris cases, once mostly found in New York City and Chicago, have now been reported across at least 35 states and Washington, D.C.

The infection has a mortality rate of up to 60%, with a particular impact on older or immunologically weaker people.

Most Candida auris infections do not always lead to symptoms, but there can be severe consequences if the microbe spreads to the bloodstream, wounds, or organs. The commonest symptoms linked to Candida infection are fever and chills.

The disease transmission has so far mostly spread in healthcare facilities that provide long-term care to severely ill patients, a group of CDC researchers said in a study published in the Annals of Internal Medicine on Monday.

"Seeing the number of cases was alarming," The Wall Street Journal reported, quoting CDC epidemiologist Dr. Meghan Lyman, the study's lead author.

While common disinfectants are unlikely to combat Candida auris, deep cleaning and special disinfectants that destroy fungal spores are required to limit its transmission, said Andrej Spec, an associate professor of medicine at Washington University School of Medicine in St. Louis.

Pharmaceutical companies advancing treatments against Candida auris include Pfizer (NYSE:PFE) and SCYNEXIS (NASDAQ:SCYX).

The news has prompted Cantor Fitzgerald to reaffirm its bullish views on SCYNEXIS (SCYX) as well as Cidara Therapeutics (NASDAQ:CDTX), another biopharma focused on developing antifungal treatments.

"Both of these companies have potentially positive catalysts in the next 12 to 18 months," Cantor analyst Louise Chen wrote in a research note on Tuesday. According to Chen, a major concern is data pointing to a three-fold rise in 2021 C. auris cases resistant to antifungal echinocandins.

"The rapid rise and geographic spread of cases are concerning and emphasize the need for a new effective treatment, in our view," the analyst added.

SCYNEXIS (SCYX) shares have rallied ~18%, recording the biggest intraday rise in over four years, while Cidara (CDTX) has shed ~6% ahead of an FDA decision on its marketing application for candidiasis treatment, rezafungin on Wednesday.