LOS ANGELES, July 22, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Ardelyx, Inc. ("Ardelyx" or the "Company") (NASDAQ: ARDX) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
Ardelyx issued a press release on July 19, 2021 "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 stated further 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 July 20, 2021, Ardelyx's stock price fell $5.69 per share, or 73.9%, on this news, to close at $2.01 per share.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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