Tricida Files for $150-Million Offering

In a week in which no initial public offerings took place, a few companies made headlines with their respective IPO plans. 

• Tricida, a developer of non-absorbed, orally administered polymer drugs to treat metabolic acidosis in patients with chronic kidney disease, filed for a $150-million public offering last Monday. The company anticipates using the proceeds to file for FDA approval of its polymer, TRC101, and to begin building the 80 to 100-person sales team to bring the drug to commercialization. The company has filed to trade on the NASDAQ under the ticker TCDA.

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• Del Monte Pacific announced last Wednesday that it would delay the IPO of its Philippines unit, citing weak demand. Del Monte had planned to raise as much as 13.5 billion pesos, or approximately $258 million, in what would be the Philippines’ largest food and beverage IPO on record.