Tricida soars on $42 million equity raise agreements

Tricida

15/11/2021 15:59

** Shares of drug developer  TCDA.O  rise as much as 17.5%
to $6.12 - hitting their highest level in nine months  
    ** Co says entered into agreements with certain investors to
raise gross proceeds of $42 mln  GNX7p24SR  
    ** Co to sell about 4.7 mln of common stock at $6 per share,
a premium of 15.2% from Friday's close 
    ** Offering also includes pre-funded warrants and common
warrants 
    ** Financing led by Deep Track Capital, includes
participation from Frazier Life Sciences, OrbiMed 
    ** Up to Friday's close, stock down ~27% YTD 

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))