Clinical-Stage Kidney Drugmaker Tricida Files for Bankruptcy (2)

Tricida Inc., a clinical-stage pharmaceutical company working on a kidney disease drug, filed for Chapter 11 bankruptcy protection in Delaware Wednesday, according to a court filing.

• Company will try to sell itself out of bankruptcy and has signed a restructuring support agreement with 80% of its convertible noteholders, according to court papers
• Tricida is focused on the development of veverimer, a drug aimed at slowing the progression of chronic kidney disease
• Estimated liabilities: $100m-$500m
• Estimated assets: $50m-$100m
• Case Number: 1:23-bk-10024

(Updates with additional details about company and bankruptcy plan.)

--With assistance from Jeremy Hill.

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