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EQUITY ALERT: ROSEN, GLOBALLY RECOGNIZED INVESTOR COUNSEL, Announces Investigation of Securities Claims Against Tricida, Inc. – TCDA

The Rosen Law Firm PA

NEW YORK, Aug. 29, 2020 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces investigation of potential securities claims on behalf of shareholders of Tricida, Inc. (NASDAQ: TCDA) resulting from allegations that Tricida may have issued materially misleading business information to the investing public.

On July 15, 2020, Tricida issued a press release announcing that the Company had received a notification from the U.S. Food and Drug Administration (“FDA”) which stated that, as part of its ongoing review of the Company's New Drug Application (“NDA”) for Tricida's drug candidate veverimer (TRC101), “the FDA ha[d] identified deficiencies that preclude discussion of labeling and postmarketing requirements/commitments at this time.” On July 16, 2020, Tricida's stock price fell $10.56 per share on this news, or 40%, to close at $15.64 per share.

Then, on August 24, 2020, Tricida announced that it received a Complete Response Letter (“CRL”) from the FDA for its NDA for veverimer. Tricida advised that, “[a]ccording to the CRL, the FDA is seeking additional data beyond the TRCA-301 and TRCA-301E trials regarding the magnitude and durability of the treatment effect of veverimer” and “the applicability of the treatment effect to the U.S. population.” Tricida further stated that the “FDA also expressed concern as to whether the demonstrated effect size would be reasonably likely to predict clinical benefit.”

On August 24, 2020, Tricida's stock price fell $3.13 per share on this news, or 23%, to close at $10.11 per share.

Rosen Law Firm is preparing a securities lawsuit on behalf of Tricida shareholders. If you purchased securities of Tricida please visit the firm’s website at http://www.rosenlegal.com/cases-register-1941.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at mailto:pkim@rosenlegal.com or cases@rosenlegal.com.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:
      Laurence Rosen, Esq.
      Phillip Kim, Esq.
      The Rosen Law Firm, P.A.
      275 Madison Avenue, 40th Floor
      New York, NY 10016
      Tel: (212) 686-1060
      Toll Free: (866) 767-3653
      Fax: (212) 202-3827