Tricida hits record low as kidney disease drug fails in study

Tricida

24/10/2022 15:05

(Updates)
    ** Shares of drug developer Tricida Inc  TCDA.O  decline 94%
to a record low of 65 cents - stock among top pct losers on the
Nasdaq Biotechnology Index  .NBI  
    ** TCDA says late-stage study of its lead experimental drug 
veverimer did not meet its main goal  urn:newsml:reuters.com:*:nBw81mksva 
    ** The study, VALOR-CKD, was meant to evaluate TCDA's drug
veverimer's ability to slow progression of chronic kidney
disease in patients experiencing an acid build up in blood
    ** TCDA says overall safety profile of veverimer in study
was consistent with that expected in patients with stages 3 to 5
of the disease 
    ** Co adds that there were two treatment-related severe
adverse events in study 
    ** As of last close, TCDA up ~14% YTD
 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))