Tricida, a late-stage biotech targeting conditions associated with chronic kidney disease, raised $222 million by offering 11.7 million shares at $19, above the range of $16 to $18. The South San Francisco, CA-based company originally planned to raise $175 million by offering 10.3 million shares at that range. Existing investors intended to buy up to $45 million of the IPO, representing 20% of the deal.
Tricida plans to list on the Nasdaq under the symbol TCDA. Goldman Sachs, J.P. Morgan and Cowen acted as lead managers on the deal.
