Hours af­ter fil­ing $150M IPO, Tri­ci­da shares pos­i­tive PhI­II tri­al re­sults on CKD drug

South San Fran­cis­co drug­mak­er Tri­ci­da sig­naled plans late Mon­day to raise $150 mil­lion in an IPO, stock­pil­ing cash to fu­el the com­pa­ny’s NDA fil­ing and com­mer­cial launch of its late-stage chron­ic kid­ney dis­ease drug. Then hours af­ter its fil­ing, the com­pa­ny an­nounced pos­i­tive Phase III da­ta, with its drug meet­ing all pri­ma­ry and sec­ondary end­points.

The com­pa­ny’s lead drug is TRC101, a nov­el poly­mer that’s served up oral­ly as a sus­pen­sion in wa­ter to treat meta­bol­ic aci­do­sis in CKD pa­tients. It’s de­signed to bind to hy­drochlo­ric acid in the GI tract, then re­move the acid via ex­cre­tion — there­by de­creas­ing the amount of acid in the body and boost­ing blood bi­car­bon­ate.

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