NEW YORK, August 26, 2020 / PRNewswire / – Pomerantz LLP is investigating claims on behalf of investors in Tricida, Inc. ("Tricida" or the "Company") (NASDAQ: TCDA). We recommend that you contact these investors Robert S. Willoughby at the (Email protected) or 888-476-6529, ext. 7980.
The investigation concerns whether Tricida and any of its officers and / or directors are involved in securities fraud or other illegal business practices.
(Click here for information on how to participate in the class action.)
On 15th July 2020Tricida issued a press release announcing that on July 14, 2020The company received a notice from the US Food and Drug Administration ("FDA") stating that the FDA's ongoing review of the Company's New Drug Application ("NDA") for Tricida's drug candidate veverimer (TRC101 ) "ha (d) identified defects that preclude discussion of labeling and post-marketing requirements / obligations at this time." Tricida stated that "(t) the report does not specify the defects identified by the FDA."
In the news, Tricida stock price fell $ 10.56 per share or 40.31% to close at $ 15.64 per share on 16th of July, 2020.
Then further August 24, 2020Tricida announced that it has received a full response letter ("CRL") from the FDA for its NDA for Veverimer August 21, 2020. The Company announced that "(a) according to the CRL, the FDA has provided additional data beyond the TRCA-301 and TRCA-301E studies regarding the extent and durability of the treatment effect of Veverimer" and "its applicability of "aims at the treatment effect for the US population. "The company also noted that" the FDA also raised concerns about whether the effect size demonstrated had a reasonable degree of probability of predicting clinical benefit. "
In the news, Tricida stock price fell $ 3.13 per share or 23.64% to close at $ 10.11 per share on August 24, 2020.
The Pomerantz company with offices in new York, Chicago, los Angeles, and Paris is recognized as a leader in corporate, securities and antitrust litigation. Established by the late Abraham L. PomerantzPomerantz Company, known as the dean of class action, pioneered class action lawsuits. Today, more than 80 years later, Pomerantz continues its tradition and fights for the rights of victims of securities fraud, fiduciary violations and corporate misconduct. The company has received numerous millions of dollars in damages on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
SOURCE Pomerantz LLP