Tricida Announces Pricing of Initial Public Offering

Tricida a pharmaceutical company focused on the development and commercialization of TRC101, a non-absorbed, orally-dosed polymer drug designed to treat metabolic acidosis in patients with chronic kidney disease, today announced the pricing of its initial public offering of 11,700,000 shares of its common stock at a public offering price of $19.00 per share for total gross proceeds of approximately $222.3 million, before deducting underwriting discounts and commissions and other offering expenses payable by Tricida.

As quoted in the press release:

Tricida has granted to the underwriters a 30-day option to purchase up to 1,755,000 additional shares of common stock at the initial public offering price, less underwriting discounts and commissions. The shares are expected to begin trading on The Nasdaq Global Select Market on June 28, 2018 under the symbol “TCDA.” The offering is expected to close on July 2, 2018, subject to customary closing conditions.

Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Cowen and Company, LLC are acting as joint book-running managers for the offering.

Click here to read the full press release.