COMPANY |
Ardelyx Inc. |
COURT |
United States District Court for the Northern District of California |
CASE NUMBER |
21-cv-05868 |
JUDGE |
The Honorable Haywood S. Gilliam, Jr. |
CLASS PERIOD |
August 6, 2020 and July 19, 2021 |
SECURITY TYPE |
All Securities |
Case Background:
The Class Period commences on August 6, 2020, when Ardelyx issued a press release announcing that it submitted an NDA to the FDA for the review of tenapanor as a first-in-class therapy to control serum phosphorus in adult patients with CKD on dialysis.
The complaint alleges that throughout the Class Period, the defendants made materially false and misleading statements regarding tenapanor and the likelihood that it would be approved by the FDA. The complaint further alleges that the defendants possessed, were in control over, and, as a result, knew, or had reason to know, that the data submitted to support the NDA was insufficient in that it showed a lack of clinical relevance of the drug’s treatment effect, making it foreseeably likely, if not certain, that the FDA would not approve the drug.
Current Status of Case:
The Motion to Dismiss has been fully briefed and is pending before the Court. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.