Cidara Shares Rally Premarket as J&J Moves Forward on Influenza Pact

By Colin Kellaher

Shares of Cidara Therapeutics rose sharply in premarket trading Wednesday after the biotechnology company said a Johnson & Johnson unit plans to proceed with the development of CD388 for the prevention of influenza A and B.

San Diego biotechnology company Cidara said it will receive a $7 million milestone payment from J&J’s…