Ardelyx Stock Price, News & Analysis

On April 11, 2022, Ardelyx, Inc. (Nasdaq: ARDX) announced an amendment to its license agreement with Kyowa Kirin Co. Ltd. concerning tenapanor, intended for treating cardiorenal diseases in Japan. The agreement includes a reduced royalty rate in exchange for a total payment of up to $40 million, contingent on Kyowa Kirin's marketing approval filings. This change will lower the royalty payments from the high teens to mid-single digits over a specified period. Kyowa Kirin plans to file for approval in the second half of 2022 and expects a decision by the second half of 2023.

Ardelyx, Inc. (Nasdaq: ARDX) presented significant findings regarding XPHOZAH at the National Kidney Foundation 2022 Spring Clinical Meetings. Four posters indicated that XPHOZAH improved phosphate management in chronic kidney disease (CKD) patients on dialysis. The OPTIMIZE study showed a substantial proportion of patients achieved target phosphorus levels. The PHREEDOM trial highlighted that 77% of patients experienced phosphate reduction, with 41% achieving a decrease of >2 mg/dL. XPHOZAH is positioned as a first-in-class phosphate absorption inhibitor with a novel mechanism.

Ardelyx has launched IBSRELA^® (tenapanor), the first FDA-approved NHE3 inhibitor for treating Irritable Bowel Syndrome with Constipation (IBS-C) in adults. This marks a significant milestone for Ardelyx as it is their first approved product. With successful Phase 3 trials involving over 1,200 patients, IBSRELA demonstrated noticeable improvements in abdominal pain and bowel movements. The company is committed to enhancing patient care through its ArdelyxAssist™ program, which provides access and affordability support for patients and healthcare providers.

On March 9, 2022, Ardelyx, Inc. (Nasdaq: ARDX) announced the grant of stock options and Restricted Stock Units (RSUs) to new non-executive employees. A total of 105,470 options and 71,250 RSUs were allocated to 11 employees. The options have an exercise price of $0.92 per share, equal to the closing stock price on the grant date, and vest over four years. Ardelyx is advancing its innovative drug tenapanor for treating conditions related to chronic kidney disease and has international partnerships for its development. The company plans to launch IBSRELA in Q2 2022.

Ardelyx, a biopharmaceutical company, announced that CEO Mike Raab will participate in a GI/Microbiome panel at the Cowen 42nd Annual Health Care Conference on March 9, 2022, at 10:30 AM ET. The event will be held virtually. Ardelyx focuses on developing first-in-class medicines addressing unmet medical needs, including IBSRELA (tenapanor), set to launch in Q2 2022. The company is also advancing treatments for chronic kidney disease, hyperkalemia, and metabolic acidosis. A replay of the panel will be available on their website for 30 days post-event.

Ardelyx, Inc. (Nasdaq: ARDX) reported its fourth-quarter and full-year 2021 financial results, highlighting a revenue increase of 33% to $10.1 million. The company is set to launch IBSRELA for IBS-C treatment in April 2022. Despite a net loss of $158.2 million, Ardelyx is optimistic about achieving breakeven with IBSRELA and potential profitability. The company also announced a new term loan agreement of $27.5 million, extending its cash position to support this launch. Total cash reserves were $116.7 million as of December 31, 2021.

Ardelyx, Inc. (Nasdaq: ARDX) announced a $27.5 million debt financing agreement with SLR Capital Partners, aimed at supporting the upcoming launch of IBSRELA for irritable bowel syndrome with constipation (IBS-C) in adults. The agreement includes a senior secured term loan facility maturing on March 1, 2027, with an interest-only period through March 2024. The funds will repay an existing term loan. Ardelyx may borrow an additional $22.5 million, contingent on FDA approval for a New Drug Application by December 31, 2022. This financing aims to strengthen Ardelyx's balance sheet and extend its cash runway.

Ardelyx, Inc. (Nasdaq: ARDX) announced a conference call scheduled for February 28, 2022, at 4:30 pm ET, to discuss its fourth-quarter and year-end 2021 financial results. The call will also include a corporate update. Ardelyx recently received approval for IBSRELA (tenapanor), with plans for its launch in Q2 2022. The company is advancing tenapanor for managing serum phosphorus in adult CKD patients on dialysis and developing RDX013 for hyperkalemia treatment. Global partnerships have been established for tenapanor's commercialization in Japan, China, and Canada.

On February 4, 2022, Ardelyx, Inc. (Nasdaq: ARDX) announced the grant of options to purchase 35,547 shares and 25,750 Restricted Stock Units (RSUs) to new non-executive employees. The options, granted as inducements for employment, have an exercise price of $0.84 per share, equal to the closing price on the grant date. Each option vests over four years, with 25% vesting on the first anniversary, and RSUs vest similarly. Ardelyx focuses on innovative medicines, including IBSRELA^® and candidates targeting kidney-related conditions.