New Chapter 11 Bankruptcy Filing - Tricida Inc.

On January 11, 2023, CA-based Tricida Inc. filed a chapter 11 bankruptcy case in the District of Delaware (Judge Dorsey). The biopharma company created a drug called Veverimer to deal with a relatively common chronic kidney disease. To support development and testing, the company raised $200mm of 3.5% ‘27 convertible notes, incurred a bunch of trade deb…