Thinly traded Tricida (TCDA +37.6%) is up more than a 6x surge in volume on the heels of positive results from an extension study, TRCA-301E, evaluating lead drug TRC101 (veverimer) for the treatment of metabolic acidosis in chronic kidney disease (CKD) patients. Metabolic acidosis, excess amounts of acid in the body, is believed to accelerate the progression of CKD while increasing the risk of muscle wasting and bone density loss.
The extension study met the primary endpoint of safety and all secondary endpoints, demonstrating a durable treatment benefit over the 52-week study period, affirming the successful outcome of the 12-week TRCA-301trial.
The company expects to file a U.S. marketing application in H2.
Veverimer is a non-absorbed polymer that binds to hydrochloric acid in the GI tract and is removed through feces excretion, thereby lowering the amount of acid in the body.
The company has also secured an additional $100M in available debt (now at $200M) via a facility with Hercules Capital.
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