Tricida eyes exclusivity extension ahead of plan confirmation hearing

By Sarah Lizee

Olympia, Wash., May 9 – Tricida, Inc. is seeking a 90-day extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the company asked the court to extend the exclusive plan filing period through Aug. 9 and the exclusive solicitation period through Oct. 9.

Tricida has obtained approval of the disclosure statement for its plan, and a confirmation hearing is scheduled for May 19, as previously reported.

The company has also achieved a settlement in principle with Patheon and consenting noteholders regarding Patheon’s claim amount, and a settlement with the creditors committee providing for a global resolution of the committee’s objections to the plan.

“Accomplishing these tasks has been a labor-intensive process, fully occupying the debtor’s representatives and professionals for the approximately four months that the Chapter 11 case has been pending,” the company said in the motion.

“In light of these circumstances, the debtor submits that the requested extensions are both appropriate and necessary to afford the debtor sufficient time to seek confirmation of the plan.”

The San Francisco-based pharmaceutical company filed bankruptcy on Jan. 11 under Chapter 11 case number 23-10024.

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