I’ve seen posts where Cosmid and Fuma mention Tricida Inc.(TCDA) and so I did some digging. Fuma lists TCDA as a stock he currently owns.
Tricida has developed a drug known as Veverimer (aka TRC101) is a polymer ingested to absorb acid in the stomach and pass it through the feces as a way to help treat Chronic Kidney Disease. I thought to myself wouldn’t an antacid do the trick, but this drug really seems to hit a niche where it absorbs a lot of acid and meets an unmet need. Here’s some highlights about Veverimer (that I hope I got right) from the S-1:
- Chronic Kidney Disease (CKD) kills more people than breast cancer or prostate cancer.
- 30,000,000 people in the US have Stage 3-5 CKD - 35% are diagnosed.
- TCDA believes that they have 550,000 potential patients.
- The mechanism of treatment allows for treatment of hypertension, edema, and heart failure.
- Excellent Phase 3 data:
Veverimer: 4% patients receiving this drug had kidney function loss >50%, all 124 patients survived.
Placebo: 10.8% of these patentients had kidney function loss>50%, 4 out of 93 patients died.
- There are no competing therapies.
I have no idea what TCDA will charge for Veverimer, but it looks like a HUGE market to me. The submitted a New Drug Application on 9/4/19 under the FDA’s accelerated approval program. Typically, accelerated approval decisions come in around 8 months.
TCDA is a $1.7B stock. It would seem like an opportune time for a larger pharmaceutical firm to gobble them up. TCDA had an investor day on 10/15, and it has popped about 10% since. This seems like a solid bet, so I picked up a few shares (2%) today. I think this is worth a look.