A $42M lifeline puts Tricida on track with CKD therapy

A $42 million registered direct financing led by Deep Track Capital has given Tricida a lifeline to deliver top-line data from the VALOR-CKD renal outcomes trial of veverimer that it believes will answer the trial’s key goals.

The financing comes about nine months after FDA’s Office of New Drugs denied the company’s appeal of a complete response letter for the chronic kidney disease therapy, sending shares down 31% to $5.11 on Feb. 25...