Investing.com UK - Financial Markets Worldwide
Get 40% Off
Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolio

Tricida Shares Nosedive After Disappointing Data From Much Anticipated Kidney Disease Trial

Published 24/10/2022, 14:26
© Reuters. Tricida Shares Nosedive After Disappointing Data From Much Anticipated Kidney Disease Trial
TCDAQ
-

  • Tricida Inc (NASDAQ: TCDA) announced the topline results from its VALOR-CKD renal outcomes clinical trial, designed to evaluate veverimer's ability to slow chronic kidney disease (CKD) progression.
  • The VALOR-CKD trial 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 (ESRD), or a confirmed greater than or equal to 40% reduction in estimated glomerular filtration rate (eGFR), also known as DD40.
  • "In light of the disappointing results from the trial and our cash runway, we are evaluating the next steps," said Gerrit Klaerner CEO & President.
  • One hundred forty-nine veverimer-treated patients versus 148 placebo-treated patients experienced a DD40 primary endpoint event, representing a veverimer-to-placebo hazard ratio of 0.99.
  • "Given our past clinical experience with veverimer, and the VALOR-CKD trial design, we were surprised that there was not a greater separation in serum bicarbonate levels between the two groups," Klaerner commented.
  • The overall safety profile of veverimer observed in the trial was consistent with what was expected.
  • In May, Tricida stopped its VALOR-CKD renal outcomes trial early for administrative reasons under the existing study protocol to allow for six months of financial runway following topline results.
  • Price Action: TCDA shares are down 93.6% at $0.70 during the premarket session on the last check Monday.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.