Market News

Ardelyx Skyrockets on Positive FDA Vote for Tenapanor

Shares of biopharmaceutical company Ardelyx (NASDAQ:ARDX) are skyrocketing today after the U.S. Food and Drug Administration’s Advisory Committee voted in favor of ARDX’s XPHOZAH (tenapanor) for the control of serum phosphorus for the treatment of adult patients on dialysis due to chronic kidney disease.

The novel treatment offers a clinically meaningful effect on serum phosphate and the advisory committee review was based on data from over 1,200 patients in three Phase 3 trials. Impressively, all of the trials met their primary and key secondary points.

Further, if approved, the treatment will be, “The first and only phosphate absorption inhibitor, reducing serum phosphorus with one pill taken twice daily.”

Ardelyx shares have now put on price gains of ~140% over the past six months.

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