Tricida: Surges in market debut

Tricida

28/06/2018 17:58

** Drug developer's shares  TCDA.O  surge 51.2 pct to $28.73
in their market debut, hitting a session's high of $29.45
    ** TCDA shares opened at $25 on Nasdaq, ~32 pct above their
IPO price of $19
    ** IPO price values the company at ~$800 mln 
    ** Tricida offered 11.7 mln shares and had estimated IPO
price between $16-$18/shr  urn:newsml:reuters.com:*:nBw6bqgpna (https://bit.ly/2tO3v1m)
    ** Earlier this month, Tricida reported successful
late-stage study data on its lead drug, TRC101, to treat chronic
kidney disease (https://bit.ly/2Ku0sCH)
 
    ** Tricida debuts on the same day as Akebia Therapeutics
 AKBA.O  and Keryx Biopharma  KERX.O  announced merger plans to
focus on chronic kidney disease  urn:newsml:reuters.com:*:nL4N1TU4B6
    ** TCDA currently the third biggest pct gainer across U.S.
exchanges; Trading with more than 2.61 mln shares  
    ** Goldman Sachs, J.P. Morgan and Cowen & Co acting as joint
book-runners for the offering 

 (Reporting by Shreyashi Sanyal in Bengaluru)
 ((RM: Shreyashi.Sanyal.thomsonreuters.com@reuters.net))