Hercules financial running for the hills > Tricida, Inc. (Nasdaq: TCDA) announced that it has entered into a debt facility with Hercules Capital, Inc. (NYSE: HTGC), a leader in customizing debt financing for companies in the life sciences and technology-related markets. The total amount of the debt facility is $125 million of which $100 million will be available for drawdown at Tricida’s option subject to the achievement of certain milestones.
“As we prepare to report the topline results from the VALOR-CKD renal outcomes trial this month, we want to ensure we are positioned both financially and strategically to move toward a potential NDA resubmission, potential FDA approval and subsequent commercialization of veverimer,” said Geoff Parker, Chief Operating Officer and Chief Financial Officer of Tricida. “This debt facility provides us with additional flexibility in our future financing plans.”
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