Tricida drops after revising kidney disease drug trial protocol

Tricida

09/12/2020 11:34

** Shares of drug developer  TCDA.O  down 15% to $6.90
premarket
    ** Co on Tuesday after market said it has changed the
protocol for its ongoing trial testing lead experimental drug,
veverimer, for treatment of acid build up in blood of patients
with chronic kidney disease  urn:newsml:reuters.com:*:nGNXbTMbP0
    ** In Oct, U.S. FDA sought additional data regarding the
drug's effect on chronic kidney disease (CKD) progression from a
near-term interim analysis of the trial  urn:newsml:reuters.com:*:nL4N2HK47R 
    ** FDA in Aug. declined to approve veverimer, seeking
additional data regarding magnitude and durability of the drug
    ** Co has submitted request with FDA seeking clarity on path
forward for resubmitting marketing application for veverimer; If
accepted for consideration, decision expected by Q1 of 2021
    ** TCDA's cash, cash equivalents, and investments as of
Sept. 30 were ~$376 mln 
    ** Stock down ~78% this year as of last close

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))