TCDA - TCDA STOCK NEWS

Tricida, Inc. (NASDAQ: TCDA) has authorized a strategic review to maximize stakeholder value, engaging Stifel and Miller Buckfire as investment banking advisors, alongside SierraConstellation Partners LLC as a financial advisor. This review may include the potential sale of the company or its assets. Additionally, Tricida plans to reduce operating expenses, with announcements anticipated in November 2022. While the Board aims to enhance stakeholder value, there is uncertainty regarding the timing and terms of any potential transaction.

Tricida, Inc. (NASDAQ: TCDA) announced disappointing top-line results from its VALOR-CKD clinical trial, which aimed to evaluate the effectiveness of veverimer in slowing chronic kidney disease (CKD) progression in patients with metabolic acidosis. The trial failed to meet its primary endpoint, with a hazard ratio of 0.99 (p=0.898). Despite achieving a significant increase in serum bicarbonate levels (5.9 mEq/L), the treatment did not show clinically significant benefits over placebo. The company is now evaluating next steps amid these results.

Tricida, Inc. (NASDAQ: TCDA) announced a $125 million debt facility with Hercules Capital, Inc. (NYSE: HTGC). Of this, $100 million is available for Tricida upon meeting certain milestones. This financing aims to support the upcoming NDA resubmission and FDA approval for their drug, veverimer, designed to treat chronic kidney disease (CKD). The loan allows for interest-only payments until August 2024, with possible extensions based on FDA decisions. This partnership is intended to provide non-dilutive capital for Tricida's ongoing development of veverimer.

Tricida, Inc. (NASDAQ: TCDA) has announced that its late-breaking clinical trial abstract for the Phase 3 VALOR-CKD renal outcomes trial will be presented at the American Society of Nephrology's Kidney Week 2022 in Orlando, Florida, from November 3-6, 2022. The presentation, titled “VALOR-CKD: A Multicenter, Randomized, Double-Blind Placebo-Controlled Trial Evaluating Veverimer in Slowing Progression of CKD in Patients With Metabolic Acidosis,” will take place on November 4, 2022. Top-line data from the trial is expected to be reported in October 2022. Veverimer aims to slow chronic kidney disease progression in patients with metabolic acidosis.

Tricida, Inc. (Nasdaq: TCDA) will present at the H.C. Wainwright 24th Annual Global Investment Conference on September 12, 2022, at 4:30 PM PT. The presentation will include a company overview and updates on key initiatives, accessible via IR.Tricida.com. The company is focused on its investigational drug candidate, veverimer, aimed at slowing CKD progression in patients with metabolic acidosis. Currently, there are no FDA-approved therapies for this condition affecting approximately 4.3 million Americans.

Tricida, Inc. (Nasdaq: TCDA) announced its Q2 2022 financial results, reporting a net loss of $28.5 million, a decrease from $33.6 million in Q2 2021. Research and development expenses fell to $16.9 million from $19.8 million due to reduced costs from the halted VALOR-CKD trial. General and administrative expenses rose slightly to $9.8 million. The company has $98.7 million in cash reserves, sufficient to fund operations until early Q2 2023. Top-line results from the VALOR-CKD trial are expected in October 2022.

Tricida, Inc. (TCDA) will report its second quarter 2022 financial results after market close on August 8, 2022. A conference call is scheduled at 4:30 PM ET to discuss the results and business progress. Interested parties can access the call via webcast or dial in using the provided contact numbers. Tricida focuses on developing veverimer, an investigational drug aimed at slowing CKD progression in patients with metabolic acidosis. Currently, there are no FDA-approved therapies for this condition in CKD patients.

Tricida, Inc. (Nasdaq: TCDA) has announced the early cessation of its VALOR-CKD renal outcomes trial, a decision made for administrative reasons to secure six months of financial runway following the anticipated top-line results in early Q4 2022. The trial, which included 1480 subjects, has accrued 237 primary endpoint events related to chronic kidney disease (CKD). The company is conducting this trial across 200 sites in 34 countries, focusing on its drug veverimer aimed at slowing CKD progression in patients with metabolic acidosis. The decision aligns with FDA feedback and aims to maintain trial integrity.

Tricida, Inc. (Nasdaq: TCDA) reported financial results for Q1 2022, posting a net loss of $29.6 million, improved from a $53.4 million loss in Q1 2021. Research and development expenses decreased to $18.5 million, down from $32.2 million, primarily due to reduced clinical activities related to veverimer. The company has sufficient funds to operate into early Q2 2023, following the anticipated top-line results from the VALOR-CKD trial in early Q4 2022. As of March 31, 2022, cash and investments totaled $123.7 million.