We are investigating Tricida, Inc. (TCDA) (“Tricida” or the “Company”) for potential violations of the federal securities laws. On July 15, 2020, Tricida issued a press release announcing that, on July 14, 2020, the Company received a notification from the U.S. Food and Drug Administration (“FDA”) stating that, as part of its ongoing review of the Company’s New Drug Application (“NDA”) for Tricida’s drug candidate veverimer (TRC101), “the FDA ha[d] identified deficiencies that preclude discussion of labeling and postmarketing requirements/commitments at this time.” Tricida stated that “[t]he notification does not specify the deficiencies identified by the FDA.” On this news, Tricida’s stock price fell $10.56 per share, or 40.31%, to close at $15.64 per share on July 16, 2020. Then, on August 24, 2020, Tricida announced that it received a Complete Response Letter (“CRL”) from the FDA for its NDA for veverimer on August 21, 2020. The Company advised that, “[a]ccording 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” and “the applicability of the treatment effect to the U.S. population.” The Company further advised that the “FDA also expressed concern as to whether the demonstrated effect size would be reasonably likely to predict clinical benefit.” On this news, Tricida’s stock price fell $3.13 per share, or 23.64%, to close at $10.11 per share on August 24, 2020.