Tricida, Inc.

OTCPK:TCDA.Q Stock Report

Market Cap: US$580.0

This company is no longer active

The company may no longer be operating, as it may be out of business. Find out why through their latest events.

Tricida Management

Management criteria checks 3/4

Tricida's CEO is Gerrit Klaerner, appointed in Aug 2013, they has a tenure of 9.83 years. Their total yearly compensation is $4.68M , comprised of 12.8% salary and 87.2% bonuses, including company stock and options. They directly owns 0.68% of the company’s shares, worth $3.93. The average tenure of the management team and the board of directors is 4 years and 9.5 years respectively.

Key information

Gerrit Klaerner

Chief executive officer

US$4.7m

Total compensation

CEO salary percentage12.83%
CEO tenure9.8yrs
CEO ownership0.7%
Management average tenure4yrs
Board average tenure9.5yrs

Recent management updates

Recent updates

Seeking Alpha • Oct 19

Tricida enters $125M debt facility

Tricida (NASDAQ:TCDA) gets into a debt facility of $125M with Hercules Capital, provider of customized debt financing for companies in the life sciences and technology-related markets. Of the $125M, $100M will be available for drawdown at Tricida’s option subject to the achievement of certain milestones. Under the terms of the debt facility, $25M will be available for drawdown until December 31, 2022, subject to the announcement of positive data from the VALOR-CKD trial.  An additional $25M will be available for drawdown until the earlier of ten business days following the filing of the NDA for veverimer and September 15, 2023. An additional $50M will be available for drawdown until the earlier of ten business days following the FDA approval of veverimer and February 15, 2024. The loans bear interest at a floating per annum interest rate equal to the greater of either 8.75% or the lesser of 8.75% plus the prime rate as reported in The Wall Street Journal minus 6.25% and 10.25%.
Seeking Alpha • Sep 21

Tricida: Important Binary Event Coming Up

Summary TCDA has a major binary event next month. Data from VALOR may turn out well given the logic behind early trial termination, prior data and so on. There could be some quick upside in the next 30 odd days. Tricida (TCDA) has been doing wonderfully lately, over the last 12 months, but it is down considerably from its PDUFA highs. That was from two years ago, when I used to cover the stock. I recall buying some TCDA, making good money, and then losing some money on the shares I held on to, because their lead asset veverimer was handed a CRL. The stock is up these days not because the CRL was resolved, but because of a number of other small and large things. Let's first discuss the CRL, though. Then we will see what has been responsible for the stock’s sudden buoyancy. Veverimer is targeting metabolic acidosis in CKD or chronic kidney disease patients. In an earlier trial, after 12 weeks of treatment, TRC101 or veverimer was able to increase blood bicarbonate level of at least 4 milliequivalents per liter (mEq/L) or achieved a blood bicarbonate level in the normal range of 22 to 29 mEq/L in 59.2% patients, compared with 22.5% of them in the placebo group (p< 0.0001). However, one of veverimer’s major problem is the standardly used therapy for this indication, which you can buy in a bottle from a grocery store for a few bucks. This is bicarbonate of soda, and while there have been no industry-sponsored trials for obvious reasons, it has long been used by doctors to treat metabolic acidosis. Its problem is that too much sodium content in the blood can cause heart diseases, which is where veverimer has a great deal of utility with its completely different mechanism of action. However, the FDA was not convinced, and it issued a CRL, asking for, among other things: Additional data regarding the magnitude and durability of the treatment effect of veverimer on the surrogate marker of serum bicarbonate. Whether the demonstrated effect size would be reasonably likely to predict clinical benefit. I discussed all this in an earlier article from two years ago. A summary of the CRL from the company management was here: “According to the CRL, the FDA is seeking additional data beyond the TRCA-301 and TRCA-301E trials regarding the magnitude and durability of the treatment effect of veverimer on the surrogate marker of serum bicarbonate and the applicability of the treatment effect to the U.S. population. FDA also expressed concern as to whether the demonstrated effect size would be reasonably likely to predict clinical benefit,” Tricida said. This was an accelerated approval, and the company was already conducting VALOR-CKD at that time as a confirmatory trial. After the CRL, they said that interim data from this trial could be used to provide the data required by the FDA. This trial was supposed to enroll ~1500 patients and topline in 2023-24. In May, the company did an “administrative stop” to this trial after enrolling 1480 patients last year, and after 237 patients reached a primary endpoint event — end-stage renal disease, renal death, or greater than or equal to 40% reduction in eGFR or estimated glomerular filtration rate — in the renal outcomes study. This was done to conserve their cash reserve, which will be near depleted this quarter. Moreover, the FDA seems to have agreed that this may work. As Phil Nadeau at Cowen explained: Assuming a true hazard ratio ((HR)) of 0.70, the trial would be 78% powered at 250 events. Switching from power to observed HR, VALOR-CKD could be successful at 250 events if the observed HR is 0.78. There is only a modest increase to 0.79 observed HR should 300 events be in the final analysis. This calculation on the observed HR required for significance is based on 300 simulations on trial outcomes.
Analysis Article • Sep 14

Calculating The Intrinsic Value Of Tricida, Inc. (NASDAQ:TCDA)

Today we will run through one way of estimating the intrinsic value of Tricida, Inc. ( NASDAQ:TCDA ) by estimating the...
Analysis Article • Dec 14

Insider Buying: The Tricida, Inc. (NASDAQ:TCDA) CFO & Executive VP Just Bought 6.5% More Shares

Investors who take an interest in Tricida, Inc. ( NASDAQ:TCDA ) should definitely note that the CFO & Executive VP...

CEO Compensation Analysis

How has Gerrit Klaerner's remuneration changed compared to Tricida's earnings?
DateTotal CompensationSalaryCompany Earnings
Sep 30 2022n/an/a

-US$134m

Jun 30 2022n/an/a

-US$148m

Mar 31 2022n/an/a

-US$153m

Dec 31 2021US$5mUS$600k

-US$177m

Sep 30 2021n/an/a

-US$181m

Jun 30 2021n/an/a

-US$219m

Mar 31 2021n/an/a

-US$244m

Dec 31 2020US$9mUS$598k

-US$265m

Sep 30 2020n/an/a

-US$268m

Jun 30 2020n/an/a

-US$235m

Mar 31 2020n/an/a

-US$213m

Dec 31 2019US$10mUS$584k

-US$177m

Sep 30 2019n/an/a

-US$146m

Jun 30 2019n/an/a

-US$131m

Mar 31 2019n/an/a

-US$120m

Dec 31 2018US$1mUS$503k

-US$103m

Sep 30 2018n/an/a

-US$96m

Jun 30 2018n/an/a

-US$77m

Mar 31 2018n/an/a

-US$60m

Dec 31 2017US$821kUS$425k

-US$41m

Compensation vs Market: Gerrit's total compensation ($USD4.68M) is above average for companies of similar size in the US market ($USD747.42K).

Compensation vs Earnings: Gerrit's compensation has been consistent with company performance over the past year.

CEO

Gerrit Klaerner (51 yo)

9.8yrs
Tenure
US$4,676,490
Compensation

Dr. Gerrit Klaerner, Ph.D. Founded Tricida, Inc.and has been its Chief Executive Officer and President since August 2013 and has been its an Executive Director since July 2013. Dr. Klaerner was the Founder...

Leadership Team

NamePositionTenureCompensationOwnership
Gerrit Klaerner
Founder9.8yrsUS$4.68m0.68%
$ 3.9
Geoffrey Parker
COO, CFO & Executive VP6.2yrsUS$2.51m0.72%
$ 4.2
Robert McKague
Executive VP3.3yrsUS$2.43m0.031%
$ 0.2
Dawn Parsell
Executive Vice President of Clinical Development4.8yrsUS$2.77m0.0060%
$ 0.03
Annie Yoshiyama
VP of Finance & Chief Accounting Officer2.5yrsno datano data
Jackie Cossmon
Vice President of Investor Relations & Communicationsno datano datano data
Edward Hejlek
Executive Vice President of Intellectual Property3.3yrsUS$2.10mno data
4.0yrs
Average Tenure
58yo
Average Age

Experienced Management: TCDA.Q's management team is considered experienced (4 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Gerrit Klaerner
Founder9.9yrsUS$4.68m0.68%
$ 3.9
Kathryn Falberg
Independent Non-Employee Director5.1yrsUS$329.00k0.074%
$ 0.4
Klaus Veitinger
Independent Chairman of the Board9.3yrsUS$379.00k0.20%
$ 1.1
David Hirsch
Independent Non-Employee Director6.9yrsUS$326.50k0.019%
$ 0.1
Robert Alpern
Independent Non-Employee Director and Member of Scientific & Clinical Advisory Board9.7yrsUS$314.00kno data
John Fordtran
Member of Scientific & Clinical Advisory Boardno datano datano data
David Bushinsky
Member of Scientific & Clinical Advisory Boardno datano datano data
Craig Hawker
Member of Scientific & Clinical Advisory Boardno datano datano data
Sandra Coufal
Independent Non-Employee Director and Member of Scientific & Clinical Advisory Board9.9yrsUS$316.50k0.15%
$ 0.9
Navdeep Tangri
Member of Scientific & Clinical Advisory Boardno datano datano data
Thomas Hostetter
Member of Scientific & Clinical Advisory Boardno datano datano data
Bertram Pitt
Member of Scientific and Clinical Advisory Boardno datano datano data
9.5yrs
Average Tenure
60yo
Average Age

Experienced Board: TCDA.Q's board of directors are considered experienced (9.5 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2023/06/13 07:03
End of Day Share Price 2023/06/13 00:00
Earnings2022/09/30
Annual Earnings2021/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Tricida, Inc. is covered by 3 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Dana FlandersGoldman Sachs
Jessica FyeJ.P. Morgan
Philip NadeauTD Cowen