Tricida Inc. (NASDAQ:TCDA) Stock Sees Selling Pressure Ahead of Earnings: What Next?

Tricida Inc. (NASDAQ:TCDA) dropped 13% after the company announced that it would release its Q2 2021 financial results on August 9, 2021, after market close. In addition, the company will hold a webcast and conference call at 4:30 PM Eastern Time to discuss the Q2 financial results and company progress. Recently, the company released its Q1 2021 results for the period ended March 31, 2021, and offered an update on significant initiatives.

The company said that enrolment of the VALOR-CKD renal outcomes was progressing well, and as of May 4, the trial had randomized 1,440 subjects out of 1600 with an average treatment duration of 15 months. Tricida also sponsored various presentations during this year’s National Kidney Foundation Spring Clinical Meeting.

The US FDA’s Office of New Drugs had issued an Appeal Denied Letter to the company regarding a Formal Dispute Resolution Request. The company continues to Execute the VALOR-CKD renal outcomes study, and it is hopeful of an optimal way forward for possible approval of veverimer. Ahead of the Q2 2021 financial results, TCDA is a stock to watch. On Friday, TCDA stock slid 12.75% at $3.56 with more than 963K shares, compared to its average volume of 379k shares. The stock has moved within a range of $3.5500 – 4.0500 after opening the trade at $4.03.