ARDELYX ALERT: Bragar Eagel & Squire, P.C. Announces that a Class Action Lawsuit Has Been Filed Against Ardelyx, Inc. and Encourages Investors to Contact the Firm
NEW YORK–(BUSINESS WIRE) – Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, announces that a class action lawsuit has been filed against Ardelyx, Inc. (“Ardelyx” or the “Company”) (NASDAQ: ARDX) in the United States District Court for the Southern District of New York on behalf of all individuals and legal entities who have Ardelyx securities between the 6th investors until September 28, 2021 to petition the court for appointment as lead plaintiff.
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Ardelyx is a specialist biopharmaceutical company focused on developing drugs to improve the management of people with cardiorenal disease, including those on dialysis with chronic kidney disease (“CKD”) who have elevated serum phosphate or hyperphosphatemia.
In June 2020, Ardelyx filed a new drug application (NDA) with the U.S. Food and Drug Administration (FDA) for its lead product candidate Tenapanor, a supposedly world-class drug for controlling serum phosphorus in adult patients with CKD on dialysis. Ardelyx’s NDA was allegedly backed by successful Phase 3 studies which, according to the complaint, showed “improvements” over current treatments, underpinning tenapanor’s “clinical safety and effectiveness” and underpinning its “potential” as a “transformative” treatment.
However, after the market closed on July 19, 2021, Ardelyx announced that it had received a letter from the FDA stating that it had identified issues with the size and clinical relevance of the drug’s treatment effects.
As a result of this news, the company’s share price fell $ 9.71 per share, or nearly 74%, to close at $ 2.01 per share on July 20, 2021.
If you have bought or otherwise acquired Ardelyx stock and have suffered a loss, are a long-term shareholder, have information, want to learn more about these claims, or have questions about this release or your rights or interests in relation to these matters, please contact Brandon Walker, Melissa Fortunato or Marion Passmore by email at firstname.lastname@example.org, by phone at (212) 355-4648, or by completing this contact form. There are no costs or obligations for you.
About Bragar Eagle & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California and South Carolina. The firm represents private and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. More information about the company can be found at www.bespc.com. Lawyer advertising. Previous results do not guarantee similar results.