Investors Who Have Lost Money in Their Ardelyx, Inc. (ARDX) Investment Should Contact Block & Leviton, Who Is Investigating Potential Securities Fraud Claims Against Ardelyx

Boston, Massachusetts--(Newsfile Corp. - July 20, 2021) - Block & Leviton LLP announces that the firm is investigating whether Ardelyx, Inc. (NASDAQ: ARDX) committed securities fraud. Investors who have lost money should contact the firm to learn more about how they might recover those losses. For more details, please visit https://www.blockleviton.com/cases/ardx.

What is this all about?

On July 19, 2021, Ardelyx announced that it had received a letter from the U.S. Food and Drug Administration on July 13, 2021 regarding the FDA's review of Ardelyx's New Drug Application ("NDA") for Tenapanor for the control of serum phosphorus in patients on dialysis for chronic kidney disease. In the letter, the FDA identified deficiencies that "preclude discussion of labeling and post-marketing requirements/commitments at this time". The FDA denied Ardelyx's request for a meeting to discuss the deficiencies. Analysts redacted negatively, with Piper Sandler and Wedbush downgrading ARDX and lowering their price targets. A Piper Sandler analyst commented: "We struggle to see a path forward for Tenapanor."

Who is eligible?

Ardelyx's shares fell significantly in intraday trading on July 20, 2021. Shares are down approximately 75% from their July 19, 2021 closing price of $7.70, trading well below $2.00 per share on July 20, 2021. Investors who have lost money on their ARDX investment - whether or not they have sold that investment - are potentially eligible and should contact Block & Leviton to learn more.

What is Block & Leviton doing?

Block & Leviton is investigating the potential filing of a securities class action lawsuit to attempt to recover losses on behalf of investors who have lost money.

What should you do next?

If you've lost money on your ARDX investment, you should contact Block & Leviton to learn more via our case website, by email at cases@blockleviton.com, or by phone at (617) 398-5600 or (888) 868-2385.

Why should you contact Block & Leviton?

Many law firms may issue releases about this matter; many of those firms do not actually litigate securities class actions. Block & Leviton is a law firm that actually litigates cases. We are dedicated to obtaining significant recoveries on behalf of defrauded investors through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, or call (888) 868-2385 or email cases@blockleviton.com with any questions.

This notice may constitute attorney advertising.

CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600 | (888) 868-2385
Email: cases@blockleviton.com
SOURCE: Block & Leviton LLP
www.blockleviton.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/90757