Nov. 14, 2019--
Tricida, Inc. (Nasdaq: TCDA), focused on the development and commercialization of its drug candidate, veverimer (TRC101), a non-absorbed, orally-administered polymer designed to treat metabolic acidosis in patients with chronic kidney disease (CKD)
It is an unmet need.
~ 3 Million Patients with Metabolic Acidosis and CKD in the United States
Estimates of Revenues: 150,000 Rx Patients = $2 Billion
CEO has started and sold two biotechs in his past.
Seasoned Commercial Officer hired from Gilead:
While at Gilead, Susannah Cantrell, PhD led global marketing for YESCARTA, ZYDELIG and pre-launch activities for andecaliximab and the company’s chimeric antigen receptor T-Cell (CAR T) therapy portfolio.
50,000,000 shares: 80% Institutional Owned; Short 4.7 Million
CEO, some Directors use: Rule 10b5-1 trading plan adopted by the reporting person on May 20, 2019.
Cash: Mar 31, 2020: $304 Million and raised $193 Million in May with 3.5% Convertible Senior Notes due 2027.
(Finra: Bond last sale at $104.61 on June 30, yield 2.7%)
Sleeper status: Biotech board search produced three posts...
Stocktwits lists 322 watchers...(lowest of all the sleepers listed)
(PDUFA) goal date of August 22, 2020.
Will be a challenging time to bring a new drug to market with the Covid protocols of limited contact.
I own shares.