Tricida Investor Suit to Proceed Over Two Kidney Drug Statements

A Tricida Inc. investor adequately alleged the bankrupt drugmaker’s CEO misled investors about a kidney disease treatment’s progress toward FDA approval, a federal court ruled in a proposed class action.

Lead investor Jeffrey Fiore can proceed with his claim that Tricida’s founder, CEO, and president Gerrit Klaerner misrepresented the Food and Drug Administration’s reasons for canceling a 2020 advisory committee meeting, the US District Court for the Northern District of California said Monday. That claim will proceed alongside allegations that Klaerner improperly characterized outstanding review issues with the FDA, which the court previously allowed to advance, Judge Haywood S. Gilliam ...