Tricida, Inc. (TCDA)


TRICIDA INVESTOR ALERT

Securities Litigation Partner James Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Tricida, Inc. To Contact Him Directly To Discuss Their Options

Faruqi & Faruqi, LLP, a leading minority and certified woman-owned national securities law firm, is investigating potential claims against Tricida, Inc. (“Tricida” or the “Company”) (NASDAQ:TCDA).

If you suffered losses exceeding $50,000 investing in Tricida stock or options and would like to discuss your legal rights, please fill out the form below. You can also call Faruqi & Faruqi partner James Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

There is no cost or obligation to you.

On July 15, 2020, Tricida issued a press release disclosing that on July 14, 2020, the Company received a notification from the U.S. Food and Drug Administration (“FDA”) stating that, as part of its ongoing review of the Company’s New Drug Application (NDA) for its drug candidate veverimer (TRC101), “the FDA has identified deficiencies that preclude discussion of labeling and postmarketing requirements/commitments at this time.” On this news, the Company’s stock price fell $10.56 per share, closing at $15.64 per share on July 16, 2020. This represented a 40.31% drop from the previous day.

On August 24, 2020 Tricida announced that it had received a Complete Response Letter (“CLR”) from the FDA relating to its NDA for veverimer on August 21, 2020. The FDA sought “additional data beyond the TRCA-301 and TRCA-301E trials regarding the magnitude and durability of the treatment effect of veverimer" and "the applicability of the treatment effect to the U.S. population.” On this news, the Company’s stock price fell $3.13 per share, closing at $10.11 per share on August 24, 2020. This represented a 23.64% drop from the previous day.

Then, on October 29, 2020, the Company announced it held an End-of-Review conference as a Type A meeting with the Division of Cardiology and Nephrology of the FDA on October 20, 2020 in relating to the CRL for the veverimer NDA. Tricida disclosed that it now believes that “the FDA will also require evidence of veverimer's effect on CKD progression from a near-term interim analysis of the VALOR-CKD trial for approval under the Accelerated Approval Program and that the FDA is unlikely to rely solely on serum bicarbonate data for determination of efficacy" and that “ Tricida does not believe it can provide information on CKD progression from a near-term interim analysis of the VALOR-CKD trial without compromising the integrity of the ongoing trial.” Additionally, Tricida disclosed that it "is significantly reducing its headcount from 152 to 59 people and will discuss its commitments with vendors and contract service providers to potentially provide additional financial flexibility." On this news, the Company’s stock price fell $3.90 per share, closing at $4.37 per share on October 29, 2020. This represented a 47.16% drop from the previous day, and a 83.32% drop from July 15, 2020.
 

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Tricida, Inc. (TCDA)

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Details

Filed on 10/29/2020

Ticker NASDAQ:TCDA

Office

685 Third Avenue 26th Floor

10017 New York, New York

Phone (212) 983-9330

Fax (212) 983-9331

Counsel

Robert W. Killorin rkillorin@faruqilaw.com Phone (404) 847-0617 Fax (404) 506-9534

James M. Wilson, Jr. jwilson@faruqilaw.com Phone (212) 983-9330 Fax (212) 983-9331

Finding us

Our Offices


Our offices are nationwide. If you have any questions about a case or our firm, please contact us.

New York

685 Third Avenue 26th Floor
New York, New York 10017
(212) 983-9330
(877) 247-4292
(212) 983-9331

California

10866 Wilshire Boulevard Suite 1470
Los Angeles, California 90024
(424) 256-2884
(424) 256-2885

Delaware

3828 Kennett Pike Suite 201
Wilmington, Delaware 19807
(302) 482-3182
(302) 482-3612

Georgia

3975 Roswell Rd Suite A
Atlanta, Georgia 30342
(404) 847-0617
(404) 506-9534

Pennsylvania

1617 JFK Boulevard, Suite 1550
Philadelphia, Pennsylvania 19103
(215) 277-5770
(215) 277-5771

Faruqi & Faruqi office in New York, New York

Faruqi & Faruqi office in Los Angeles, California

Faruqi & Faruqi office in Wilmington, Delaware

Faruqi & Faruqi office in Atlanta, Georgia

Faruqi & Faruqi office in Philadelphia, Pennsylvania