Why Tricida Stock Is Tanking Today

Tricida Inc TCDA shares are trading lower Monday morning after the company announced its VALOR-CKD trial did not meet its primary endpoint.

The VALOR-CKD clinical trial was designed to evaluate veverimer's ability to slow CKD progression in patients with metabolic acidosis and chronic kidney disease.

Tricida said it did not meet its primary endpoint, which was defined as the time to the first occurrence of any event in the composite endpoint of renal death, end-stage renal disease, or a confirmed greater than or equal to 40% reduction in estimated glomerular filtration rate.

"Unfortunately, due to the higher than expected serum bicarbonate values in the placebo group, we were not able to compare an untreated acidotic population with a veverimer-treated population and were thus unable to assess veverimer's ability to slow CKD progression," said Gerrit Klaerner, president and CEO of Tricida.

Tricida is a pharmaceutical company focused on the development of its investigational drug candidate, veverimer, a non-absorbed, orally-administered polymer designed to slow CKD progression in patients with metabolic acidosis and CKD. 

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TCDA Price Action: Tricida is making new 52-week lows on Monday.

The stock was down 91.5% at 91 cents at time of publication, according to Benzinga Pro.

Photo: Konstantin Kolosov from Pixabay.