Merck & Co. Inc. is close to acquiring Cidara Therapeutics, a biotech company working on a long-acting antibody treatment for influenza. The deal, expected to be announced soon, values Cidara above its market cap of $3.3 billion. Merck’s offer is favored over a competitor’s, and the deal likely includes upfront cash and milestone payments tied to clinical trials. CDTX stock closed Thursday down but surged in after-hours trading by 46.24%.

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