MONSEY, N.Y., July 02, 2024 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating whether Ardelyx, Inc. (Nasdaq: ARDX) (“Ardelyx”) has violated the federal securities laws after the company announced that it had decided not to apply to include XPHOZAH in the Centers for Medicare & Medicaid Services (CMS) End-Stage Renal Disease (ESRD) Prospective Payment System (PPS) Transitional Drug Add-on Payment Adjustment (TDAPA).
Upon this news, Ardelyx shares have so far fallen nearly 30% in trading on July 2, 2024.
If you are an Ardelyx shareholder and have suffered losses, you may contact us at the following link to discuss your legal rights and options at no charge:
https://wohlfruchter.com/cases/ardelyx/
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.
Why is there an investigation?
On Ardelyx’s Q1 2024 earnings call on May 2, 2024, Ardelyx’s CEO, Mike Raab, advised analysts that “our intent is to enter the TDAPA . . . our current intent is to go through the process.”
But then on July 2, 2024, Ardelyx issued a press release announcing that it had decided not to apply to include XPHOZAH in the TDAPA.
Upon this surprise news, Ardelyx shares have so far fallen nearly 30% in trading on July 2, 2024.
About Wohl & Fruchter
Wohl & Fruchter LLP, with offices in New York City and Monsey, has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
Contact:
Wohl & Fruchter LLP
Joshua E. Fruchter
Toll Free 866.833.6245
alerts@wohlfruchter.com
www.wohlfruchter.com
