Ardelyx Inc (NASDAQ:ARDX) Stock Continues to Trade in a Range After The Recent Fall
Shares of Ardelyx Inc (NASDAQ:ARDX) have been trading within a narrow range over the past few weeks. The stock has lost 82% in the past 6-month.
Market Stats
On Friday, ARDX stock lost 3.23% at $1.2000 with more than 10.62 million shares, compared to its average volume of 4.13 million shares. The stock has moved within a range of $1.1700 – 1.3200 after opening the trade at $1.3050.
Reports Additional Positive Data Supporting Clinical Utility of Tenapanor at ASN’s Kidney Week 2021
Biopharmaceutical company focusing on discovery, development as well as commercialisation of first-in-class medicines, Ardelyx Inc (NASDAQ:ARDX) on November 5, 2021 announced a number of presentations covering extra positive clinical observations with tenapanor at the American Society of Nephrology Kidney Week 2021.
The company has finished three successful Phase 3 pivotal trials as well as an extra clinical trial for Tenapanor.
Tenapanor, an investigational and phosphate absorption inhibitor for controlling serum phosphorus in adult patients suffering from chronic kidney disease, was developed by Ardelyx.
Laura Williams, M.D., MPH, chief medical officer for Ardelyx, said that the data provides extra perspective on the likely benefits of tenapanorand supports management of serum phosphorus.
Derek Forfang, chair, NKF Kidney Patient Advocacy Committee and co-chair, Forum of ESRD Networks’ Kidney Patient Advisory Council., said that having witnessed issues on managing phosphorus, the development gives much hope to patient perspective.
Pablo E. Pergola, M.D., Ph.D., director, Clinical Advancement Center, Renal Associates PA, San Antonio, Texas, said that the data for tenapanorboth in peritoneal dialysis as well as hemodialysis along with the capability to reduce PTH and FGF23 levels provides an early glimpse into the real-world use of tenapanor. Pergola added that it will help patients achieve manageable phosphorus levels as well as improve patient experience.
Key Quote
Pablo E. Pergola, M.D., Ph.D., director, Clinical Advancement Center, Renal Associates PA, San Antonio, Texas, added, “These data for tenapanor reported at ASN reveal new important observations, including its efficacy in both peritoneal dialysis and hemodialysis, its ability to lower PTH and FGF23 levels, and its lowering of serum phosphorus without affecting other electrolytes. In addition, the new data reported from the OPTIMIZE trial provides a first glimpse into the real-world use of tenapanor, showing its ability not only to help more patients achieve target phosphorus levels, but also its ability to improve the patient experience regarding the management of hyperphosphatemia.”
Traders Corner
ARDX stock is trading below the 200-Day and 50-Day Moving averages of $4.95 and $1.27 respectively. However, the stock is trading above 200-Day moving average of $1.20. The stock is down 27% in the past 3-month.
