Home Top Movers Is This Why The ARDX Stock Rose Last Trading?

Is This Why The ARDX Stock Rose Last Trading?

Ardelyx Inc. (NASDAQ: ARDX) opened Wednesday’s trading session at $7.25 and achieved its intraday high of $8.17. Ardelyx stock closed the trading session at $7.84, rising 8.89%. The Ardelyx stock remained very active on Wednesday, recording a greater than 128.72% trading volume compared to the average daily trading volume. The ARDX stock traded 2.58 million shares on Wednesday, more than the daily average volume of 1.10 million.

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News of the start of four phase 3 trials by its partner sent the ARDX stock soaring.


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What actually happened?

Ardelyx aims to enhance the lives of patients with kidney and cardiorenal diseases by discovering, developing, and commercializing first-in-class medicines. ARDX is developing tenapanor for control of serum phosphorus in adults with chronic kidney disease on dialysis. Its NDA is currently being reviewed by the FDA, and a PDUFA date of April 29, 2021, is scheduled.

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ARDX is also developing RDX013, a potassium secretagogue, for the treatment of elevated serum potassium levels that occur in patients with a number of kidney and/or heart diseases, and is working on metabolic acidosis in patients with congestive heart failure.

Ardelyx announced yesterday that its collaboration partner in Japan, Kyowa Kirin Co. has initiated four Phase 3 clinical studies in Japan assessing the efficacy and safety of tenapanor in the treatment of hyperphosphatemia.

ARDX will be remunerated with a $5 million payment if this development milestone is achieved.

Phase 3 clinical trials consist of the following:

  • A randomized, double-blind, control-group comparative study on randomized, double-blind, controlled, and placebo-controlled subjects;
  • A parallel group comparison of phosphate binder combinations;
  • A single-arm open-label study evaluating patients taking dialysis for hyperphosphatemia;
  • Long term study in Japan, looking at serum phosphorus in patients switching from one or more phosphate binders to tenapanor for hyperphosphatemia.

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Finally,

Based on Ardelyx (ARDX) analysis, tenapanor, alone or combined with sevelamer carbonate, is capable of significantly lowering phosphorus levels. Despite treatment with low doses of sevelamer or tenapanor, patients exhibited a mean serum phosphorus reduction after nearly one year. The current clinical trials will be assessing the ability of ARDX to demonstrate that reduction as well.

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