NEW YORK–(BUSINESS WIRE)–Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Ardelyx, Inc. (“Ardelyx” or the “Company”) (NASDAQ: ARDX) on behalf of Ardelyx stockholders. Our investigation concerns whether Ardelyx has violated the federal securities laws and/or engaged in other unlawful business practices.
Click here to participate in the action.
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 purchased or otherwise acquired Ardelyx shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at firstname.lastname@example.org, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.