Press release
Investigation announced for Investors in Ardelyx, Inc. (NASDAQ: ARDX) shares
An investigation for investors in Ardelyx, Inc. (NASDAQ: ARDX) shares over potential securities laws violations by Ardelyx, Inc.
Investors who purchased shares of Ardelyx, Inc. (NASDAQ: ARDX), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Ardelyx, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Fremont, CA based Ardelyx, Inc., a biopharmaceutical company, develops and sells medicines for the treatment of kidney and cardiorenal diseases in the United States and internationally. Ardelyx, Inc. (NASDAQ: ARDX) reported that its annual Total Revenue rose from $5.28 million in 2019 to $7.57 million in 2020, and that its Net loss declined from $94.94 million in 2019 to $94.31 million in 2020.
On July 19, 2021, Ardelyx, Inc announced that it had received a letter from the FDA on July 13, 2021, regarding its New Drug Application for Tenapanor. The FDA was reviewing Tenapanor for the control of serum phosphorus in adult patients with CKD on dialysis. In the letter, the FDA stated that it had identified "deficiencies that preclude discussion of labeling and post-marketing requirements/commitments." Ardelyx, Inc said it immediately requested a meeting to discuss the deficiencies but was notified by the FDA that its request for a meeting was denied. Tenapanor was in stage 3 clinical studies.
Shares of Ardelyx, Inc. (NASDAQ: ARDX) declined from $8.24 per share on July 6, 2021, to as low as $1.51 per share on July 26, 2021.
Those who purchased shares of Ardelyx, Inc. (NASDAQ: ARDX) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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