Tricida Inc: Falls after FDA declines to approve lead kidney disease drug

Tricida

24/08/2020 16:18

** Shares of drug developer  TCDA.O  fall ~16% to $11.16
    ** Co says U.S. FDA declines to approve its lead
experimental drug, veverimer, for treatment of acid build up in
blood of patients with chronic kidney disease  urn:newsml:reuters.com:*:nBw1T5blVa   
    ** FDA is seeking additional data regarding magnitude and
durability of veverimer - TCDA
    ** Says there were no safety, clinical or non-clinical
issues identified in agency's letter; co plans to request a Type
A meeting with the FDA in coming weeks 
    ** Including session's losses, stock down ~70% YTD

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