ARDX Stock: Over 10% Increase Pre-Market Explanation

By Amit Chowdhry ● Sep 3, 2021
  • The stock price of Ardelyx, Inc. (Nasdaq: ARDX) increased by over 10% pre-market. This is why it happened.

The stock price of Ardelyx, Inc. (Nasdaq: ARDX) – a biopharmaceutical company focused on the discovery, development, and commercialization of innovative first-in-class medicines to improve treatment for people with kidney and cardiorenal diseases – increased by over 10% pre-market. Investors are responding postively to the company announcing the publication of the company’s long term 52-week Phase 3 PHREEDOM trial in the American Society of Nephrology journal Kidney360.

KEY QUOTE:

“The PHREEDOM trial, a 52-week randomized Phase 3 trial that evaluated tenapanor monotherapy, was the third of three Phase 3 trials we conducted in our comprehensive evaluation of tenapanor for the control of serum phosphorus in patients with chronic kidney disease on dialysis. The PHREEDOM data demonstrate the ability of tenapanor to provide significant phosphorus reduction with long-term safety comparable to active control. This study, together with data from our AMPLIFY trial which evaluated tenapanor in combination with binders in patients who require more aggressive phosphate management, supports the central role tenapanor, with its novel blocking mechanism, can play across a broad range of patients and treatment regimens for the management of hyperphosphatemia in patients with chronic kidney disease on dialysis.”

— Mike Raab, president and chief executive officer of Ardelyx

“As an investigator in this clinical trial and an author on this publication, I have had the opportunity to see both first-hand and in aggregate the impact of tenapanor on the control of serum phosphorus. I believe this novel mechanism therapy will play a key role in advancing the management of hyperphosphatemia in our patients with CKD on dialysis, an area where treatment options have been limited, and a significant proportion of patients have phosphorus levels above target ranges despite active treatment with currently available therapies. Additionally, a one pill twice daily therapy that blocks phosphorus absorption, whether used alone or in combination with phosphate binders, has the potential to reduce treatment burden, which will be a very meaningful benefit to patients.”

— Arnold Silva, M.D., Ph.D., director of Clinical Research at Boise Kidney and Hypertension Institute

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