Stock Alert: Tricida Drops 35%

(RTTNews) - Shares of clinical-stage pharmaceutical company, Tricida, Inc. (TCDA)are falling more than 35% Thursday morning at $16.88. It has traded in the range of $16.25- $44.30 in the past one year.

On Wednesday, the company said it has received a notification on July 14, from the FDA stating that, as part of its ongoing review of Tricida's drug candidate veverimer's New Drug Application (NDA), the FDA has identified deficiencies that preclude discussion of labeling and postmarketing requirements/commitments at this time.

veverimer is proposed to treat metabolic acidosis in patients with chronic kidney disease (CKD).