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NEW YORK, July 28, 2021--(BUSINESS WIRE)--Scott+Scott Attorneys at Law LLP ("Scott+Scott"), an international shareholder and consumer rights litigation firm, continues its investigation into whether Ardelyx Inc. ("Ardelyx" or the "Company") (NASDAQ: ARDX) and certain of its officers and directors violated federal securities laws. If you purchased or otherwise own Ardelyx securities, and have suffered a loss, you are encouraged to contact Jonathan Zimmerman at (888) 398-9312 for more information.
Ardelyx is focused on discovering, developing, and commercializing innovative medicines for patients suffering from kidney and cardiorenal diseases.
On July 19, 2021, the U.S. Food and Drug Administration (FDA) flagged deficiencies in Ardelyx’s New Drug Application of tenapanor, a novel product candidate to control serum phosphorus in adult patients with chronic kidney disease on dialysis. In the letter, the FDA noted that a key issue is the size of the treatment effect and its clinical relevance.
On this news, Ardelyx’s stock plummeted, falling from $7.70 per share on July 19, 2021, to close at $2.01 per share on July 20, 2021, a decline of nearly 74%.
What You Can Do
If you purchased or otherwise own Ardelyx securities, and you wish to discuss this investigation, please contact attorney Jonathan Zimmerman at (888) 398-9312, or at firstname.lastname@example.org, or visit the Ardelyx investigation page on our website at https://dev.scott-scott.com/investigation/ardelyx-inc/.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, Virginia, California, and Ohio.
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