Long road gets longer for Ardelyx, with hope on the horizon

30 July 2021

Shares in Californian kidney specialist Ardelyx (Nasdaq: ARDX) are up a quarter in pre-market trading, despite the firm receiving a Complete Response Letter (CRL) from the US Food and Drug Administration for its candidate tenapanor.

News of the rejection had already been released earlier in July, leading the company's stock to take a nosedive.

Now, with more detail from the CRL being announced, investors are seeing a reason to be more optimistic about tenapanor, a first-in-class candidate to control serum phosphorus in adults with chronic kidney disease on dialysis.

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