- Thinly-traded relatively-recent IPO Ardelyx (ARDX -30.9%) heads south on a 4x surge in volume albeit on turnover of only 325K shares. The company reported results from a Phase 2b clinical trial sponsored by development partner AstraZeneca (AZN -1%) that assessed tenapanor in hyperphosphatemic patients with chronic kidney disease on hemodialysis.
- The study met its primary efficacy endpoint of a statistically significant dose-related decrease in serum phosphate levels in patients treated with tenapanor compared to placebo (p=0.012). The overall safety profile did not change, but the rate of diarrhea, the most frequent adverse side effect, was much higher than expected.
- Ardelyx intends to evaluate the future development plans for tenapanor with AstraZeneca for this indication as well as irritable bowel syndrome. The study results will be presented in a future peer-reviewed forum.
- Previously: Tenapanor successful in Phase 2 trial (Oct. 1, 2014)