Tricida: On the rise ahead of equity raise to fund kidney disease drug

Tricida

02/04/2019 17:12

** Tricida Inc  TCDA.O  up 8.4 pct at $38.28 on Tues ahead
of co's first-time follow-on
    ** Commences 5 mln share offering to fund manufacturing
activities, conducting confirmatory postmarketing trial and
commercial expenses related to TRC101, per filing https://www.sec.gov/Archives/edgar/data/1595585/000162828019003724/tricidas-1.htm
 
    ** Goldman Sachs, JP Morgan and Cowen are jt bookrunners;
offering scheduled to price Weds AMC
    ** TCDA shares surged 57 pct on Thurs after TRC101 met main
and secondary goals in long-term clinical trial in patients with
chronic kidney disease (CKD)  urn:newsml:reuters.com:*:nL3N21F45A
    ** Co said results support submission of marketing
application in second half of 2019
    ** Stock now double its $19 Jun IPO price when co raised
$222 mln  urn:newsml:reuters.com:*:nL4N1TU518

 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 646-223-5017))