Ardelyx, Inc.
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
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CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
The Complaint states that in its Forms 10-Q filed on October 31, 2023, and May 2, 2024, and its Form 10-K filed on February 22, 2024, Ardelyx had indicated plans to apply for including XPHOZAH in TDAPA. Additionally, during an earnings call on May 2, 2024, Defendant Michael Raab mentioned that “our intent is to enter TDAPA.” However, on July 2, 2024, Ardelyx unexpectedly announced that it would not apply to include XPHOZAH in TDAPA.
Following this announcement, Ardelyx’s stock price dropped by $2.29 per share, or 30.25%, ending the day at $5.28 per share.
