NEW YORK, July 28, 2021 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Ardelyx, Inc. (“Ardelyx” or the “Company”) (NASDAQ: ARDX). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Ardelyx and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
SOURCE Pomerantz LLP