Tricida, a late-stage biotech targeting conditions associated with chronic kidney disease, announced terms for its IPO on Monday.
The South San Francisco, CA-based company plans to raise $175 million by offering 10.3 million shares at a price range of $16 to $18. Insiders intend to purchase $45 million (26% of deal size) worth of shares in the offering. At the midpoint of the proposed range, Tricida would command a fully diluted market value of $723 million.
Tricida was founded in 2013 and plans to list on the Nasdaq under the symbol TCDA. Goldman Sachs, J.P. Morgan and Cowen & Company are the joint bookrunners on the deal. It is expected to price during the week of June 25, 2018.
