Ardelyx dives again on trial failure, awaits AstraZeneca verdict
This article was originally published in Scrip
Executive Summary
Ardelyx has seen its share price slump for the second time in three months following news that lead drug tenapanor, which is partnered with AstraZeneca, has failed a Phase IIa trial in Stage 3 chronic kidney disease patients with type 2 diabetes mellitus and albuminuria. Shares dropped by as much as a quarter of their value in after-market trading (5 May).