Tricida: Jumps on upbeat data from kidney disease drug study

Tricida

28/03/2019 14:50

** Drug developer's shares  TCDA.O  jump 39 pct to $33.54 as
co's drug TRC101 meets main and secondary goals in long-term
clinical trial in patients with chronic kidney disease (CKD) 
    ** TRC101 is being developed to treat metabolic acidosis, a
chronic condition caused by CKD that accelerates disease
progression, increases risk of muscle wasting and causes loss of
bone density  urn:newsml:reuters.com:*:nBwbN1py5a
    ** Patients treated with TRC101 showed a significant
reduction in all-cause mortality and CKD progression vs placebo
within one year, says co
    ** Co says results support submission of marketing
application in the second half of the year
    ** Separately, co reports Q4 net loss of 66 cents per share
vs loss of $9.05 a year earlier, and a $200 mln debt facility
with Hercules Capital for TRC101  urn:newsml:reuters.com:*:nBw2kYWZJa  urn:newsml:reuters.com:*:nBw92Sh8Ya
    ** Including session's gains, stock up 43 pct this year

 (Reporting by Saumya Sibi Joseph in Bengaluru)
 ((Reuters Messaging:
saumya.joseph.thomsonreuters.com@reuters.net))