TCDA - Tricida to lay off ~60% of employees following strategic review announcement
- Tricida ( NASDAQ: TCDA ) is letting go of 57% of its workforce less than two weeks after saying it would undergo a review of strategic alternatives .
- The pharma said the headcount reduction would result in $2M in costs due to one-time termination severance payments and other employee-related costs.
- Tricida ( TCDA ) is down 97% year to date.
- Seeking Alpha's Quant Rating views Tricida ( TCDA ) as a strong sell.
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Tricida to lay off ~60% of employees following strategic review announcement