Ardelyx, Inc. (ARDX)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Ardelyx, Inc. ("Ardelyx" or "the Company") (NASDAQ: ARDX). The investigation concerns whether Ardelyx and certain of its officers and/or directors have violated federal securities laws.
On July 19, 2021, Ardelyx issued a press release “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 further stated 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 this news, Ardelyx’s stock price fell $5.69 per share, or 73.9%, to close at $2.01 per share on July 20, 2021.
If you are aware of any facts relating to this investigation, or purchased Ardelyx shares, you can assist this investigation. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.