NEW YORK, Aug. 23, 2024 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Ardelyx, Inc. ("Ardelyx" or the "Company") (NASDAQ: ARDX) of a class action securities lawsuit.CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Ardelyx investors who were adversely affected by alleged securities fraud between October 31, 2023 and July 1, 2024. Follow the link below to get more information and be contacted by a member of our team:https://zlk.com/pslra-1/ardelyx-lawsuit-submission-form?prid=9 ...

NEW YORK, Aug. 22, 2024 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Ardelyx, Inc. ("Ardelyx" or the "Company") (NASDAQ: ARDX) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Ardelyx investors who were adversely affected by alleged securities fraud between October 31, 2023 and July 1, 2024. Follow the link below to get more information and be contacted by a member of our team: https://zlk.com/pslra-1/ardelyx-lawsuit-submission-form? ...

NEW YORK, Aug. 22, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Ardelyx, Inc. (NASDAQ: ARDX).Shareholders who purchased shares of ARDX during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/ardelyx-loss-submission-form/?id=97082&from=4CLASS PERIOD: October 31, 2023 to July 1, 2024 ...

NEW YORK, Aug. 21, 2024 /PRNewswire/ --Why: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of all purchasers of securities of Ardelyx, Inc. (NASDAQ: ARDX) between October 31, 2023 and July 1, 2024, both dates inclusive (the "Class Period"). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 15, 2024.So What: If you purchased Ardelyx securities during the Class Period ...

LOS ANGELES, Aug. 21, 2024 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Ardelyx, Inc. (“Ardelyx” or “the Company”) (NASDAQ: ARDX) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company’s securities between October 31, 2023 and July 1, 2024, inclusive (the “Class Period”), ar ...

NEW YORK, Aug. 20, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Ardelyx, Inc. (“Ardelyx” or the “Company”) (NASDAQ: ARDX) in the United States District Court for the District of Massachusetts on behalf of all persons and entities who purchased or otherwise acquired Ardelyx securities between October 31, 2023 and July 1, 2024, both dates inclusive (the “Class Period”). Investors have unt ...

NEW YORK, Aug. 20, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of all purchasers of securities of Ardelyx, Inc. (NASDAQ: ARDX) between October 31, 2023 and July 1, 2024, both dates inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 15, 2024. SO WHAT: If you purchased Ardelyx securities during the Class ...

ATLANTA, Aug. 19, 2024 (GLOBE NEWSWIRE) -- A shareholder class action lawsuit has been filed Ardelyx, Inc. (“Ardelyx” or the “Company”) (NASDAQ: ARDX). The lawsuit alleges that Defendants indicated that Ardelyx would apply to include its product, XPHOZAH, in the Transitional Drug Add-on Payment Adjustment (“TDAPA”) when, in fact, Ardelyx had not yet reached a firm decision concerning whether or not to apply to include XPHOZAH in TDAPA, and could not, in fact, decide whether or not to submit such an applicat ...

SAN DIEGO, Aug. 18, 2024 (GLOBE NEWSWIRE) -- Robbins LLP informs investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Ardelyx, Inc. (NASDAQ: ARDX) securities between October 31, 2023 and July 1, 2024. Ardelyx is a biotechnology company focused on developing and commercializing therapies for, among other things, patients with chronic kidney disease (“CKD”). For more information, submit a form, email attorney Aaron Dumas, Jr., or give us ...

Financial Data and Key Metrics Changes - The company reported significant year-over-year revenue growth in Q2 2024, totaling $73.2 million compared to $22.3 million in Q2 2023, reflecting strong performances from both IBSRELA and XPHOZAH [14][24] - Net product sales revenue for IBSRELA was $35.4 million, nearly doubling from $18.3 million in the same period last year, and showing a 25% quarter-over-quarter growth [17][18] - XPHOZAH reported $37.1 million in net product sales revenue for Q2 2024, up from $15.2 million in Q1 2024, indicating a 145% sequential growth [20][24] Business Line Data and Key Metrics Changes - IBSRELA's revenue growth was driven by strong volume growth and an increase in new and refill prescriptions, with a gross to net deduction improving from 33.5% in Q1 to 29.7% in Q2 [18][19] - XPHOZAH's gross to net deduction improved from 23.8% in Q1 to 21.4% in Q2, driven by strong demand from healthcare providers [21][24] Market Data and Key Metrics Changes - The company anticipates IBSRELA achieving at least a 10% share of the IBS prescription market and aims for it to become a $1 billion product before patent expiry [7] - The company is advocating for patient access to XPHOZAH, emphasizing the need for oral-only phosphate lowering therapies to remain outside the Medicare bundle [9][10] Company Strategy and Development Direction - The company is focused on maximizing patient access to XPHOZAH and has taken legal action against CMS regarding the inclusion of oral-only phosphate lowering therapies in the Medicare bundle [10][11] - The company plans to expand its sales team for IBSRELA, expecting this to impact growth positively in the second half of the year [19][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth momentum of both products and reiterated guidance for IBSRELA's full-year U.S. net product sales revenue to be between $140 million and $150 million [19][25] - The management highlighted the importance of advocacy for patient access to XPHOZAH and the ongoing efforts to address regulatory challenges [9][10] Other Important Information - The company ended Q2 2024 with a strong cash position of $186 million, slightly up from $184.3 million at the end of 2023, without engaging in fundraising activities during the quarter [24] - Research and development expenses increased to $12.8 million from $8.3 million in Q2 2023, reflecting expanded medical affairs teams [22] Q&A Session Summary Question: Insights on XPHOZAH sales and inventory - Management confirmed that both products have low inventory levels in the channel and that gross to net variability is primarily influenced by the commercial co-pay program [28][30] Question: Initiatives to keep XPHOZAH out of the CMS bundle - Management stated that it is premature to discuss specific initiatives but emphasized their commitment to exhausting all options for patient access [31][32] Question: Impact of new sales reps on IBSRELA performance - Management indicated that the full impact of the expanded sales force would be seen by the end of the month, with continued strong performance expected [38][39] Question: Breakdown of prescribers for XPHOZAH - Management noted that it is too early to determine the exact breakdown of prescribers but emphasized strong interest from physicians [55][56] Question: Contingency plans if XPHOZAH is included in the Medicare bundle - Management stated that it is premature to discuss contingency plans but expressed confidence in their ongoing efforts [64]