VC-backed Tricida rolls out IPO

South San Francisco, California-based Tricida Inc, a developer of oral drug therapies that treat patients with chronic kidney disease, has raised about $222.3 million for its IPO after pricing its 11.7 million shares at $19 per share. The stock began trading June 28, 2018 on the NASDAQ under the ticker symbol “TCDA.” Goldman Sachs, J.P. Morgan Securities LLC and Cowen and Company LLC are the lead underwriters. Tricida’s pre-IPO backers include Wellington Management Company LLP, Venrock Healthcare Capital Partners, Cormorant Asset Management, OrbiMed, Longitude Capital, Sibling Capital Ventures, Limulus Venture Partners and Vivo Capital.

PRESS RELEASE

SOUTH SAN FRANCISCO, Calif.–(BUSINESS WIRE)–Tricida, Inc., a pharmaceutical company focused on the development and commercialization of TRC101, a non-absorbed, orally-dosed polymer drug designed to treat metabolic acidosis in patients with chronic kidney disease, today announced the pricing of its initial public offering of 11,700,000 shares of its common stock at a public offering price of $19.00 per share for total gross proceeds of approximately $222.3 million, before deducting underwriting discounts and commissions and other offering expenses payable by Tricida. Tricida has granted to the underwriters a 30-day option to purchase up to 1,755,000 additional shares of common stock at the initial public offering price, less underwriting discounts and commissions. The shares are expected to begin trading on The Nasdaq Global Select Market on June 28, 2018 under the symbol “TCDA.” The offering is expected to close on July 2, 2018, subject to customary closing conditions.

Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Cowen and Company, LLC are acting as joint book-running managers for the offering. The offering is being made only by means of a prospectus, copies of which may be obtained, when available, from: Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing prospectus-ny@ny.email.gs.com; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 866-803-9204, or by emailing prospectus-eq_fi@jpmchase.com; or Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 631-274-2806, or facsimile: 631-254-7140.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission and has been declared effective under the Securities Act of 1933, as amended. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described above, nor shall there be any sale of such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

About Tricida
Tricida, Inc., is a pharmaceutical company focused on the development and commercialization of TRC101, a non-absorbed, orally-dosed polymer drug designed to treat metabolic acidosis in patients with chronic kidney disease.