The US Bankruptcy Court gave an order approving the bidding procedures relating to the sale of substantially all the assets of Tricida, Inc. on January 26, 2023. To qualify as a qualified bidder, interested parties should submit their bids by February 10, 2023. The initial minimum overbid should be in the amount of $0.1 million more than the initial purchase price.

If the debtor receives any qualified bids then it would hold an auction for its assets on February 15, 2023. At the auction, the subsequent bids would be in increments of $0.1 million. The sale hearing is scheduled for February 21, 2023 and sale shall be closed on or before February 24, 2023.