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Investors with losses are encouraged to contact the firm before September 28, 2021; click here to submit trade information
LOS ANGELES, July 30, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Ardelyx, Inc. (NASDAQ: ARDX) investors that acquired shares between August 6, 2020 and July 19, 2021. Investors have until September 28, 2021 to seek an active role in this litigation.
Ardelyx issued a press release on July 19, 2021 "announc[ing] that it received a letter from the U.S. Food and Drug Administration (the 'FDA' on July 13, 2021 stating that, as part of its ongoing review of the company's New Drug Application ("NDA") for the control of serum phosphorus in chronic kidney disease patients on dialysis, the FDA has identified deficiencies that preclude discussion of labeling and post-marketing requirements/commitments at this time." Ardelyx stated further that "[w]hile the FDA has not provided specific details regarding the deficiencies, the FDA noted that a key issue is the size of the treatment effect and its clinical relevance."
On July 20, 2021, Ardelyx's stock price fell $5.69 per share, or 73.9%, on this news, to close at $2.01 per share.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 28, 2021.
Please visit our website to review more information and submit your transaction information.
The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar