Tricida (TCDA) Tops Q4 EPS by 4c

Tricida (NASDAQ: TCDA) reported Q4 EPS of ($1.17), $0.04 better than the analyst estimate of ($1.21).

Upcoming Events and Projected Milestones

• Anticipated CRDAC meeting in the second quarter of 2020.
• Veverimer PDUFA goal date of August 22, 2020.
• Commercial launch of veverimer anticipated in the second half of 2020.

“We are rapidly transforming Tricida into a commercial organization that is preparing to launch veverimer, if approved, as the first and only FDA-approved therapy to treat metabolic acidosis and potentially slow CKD progression,” said Gerrit Klaerner, Ph.D., Tricida’s Chief Executive Officer and President. “We believe there is an urgent need to effectively and safely treat this serious condition. We are working with the FDA to obtain initial approval through the Accelerated Approval Program to market veverimer in the United States.”

Financial Guidance

Tricida estimates cash expenditures of $250 million to $260 million in 2020. Based on its current operating plan and excluding potential revenue of veverimer, if approved, Tricida expects that its cash, cash equivalents and investments as of December 31, 2019 and its anticipated additional borrowing capacity of $90 million under its Hercules debt facility will enable the Company to fund its operations into the second half of 2021.

For earnings history and earnings-related data on Tricida (TCDA) click here.

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