Here’s what you should know:
1. Ardelyx is in the midst of several late-stage development programs. Tenapanor, its first-in-class irritable bowel syndrome with constipation treatment, leads its developmental pipeline.
2. Tenapanor is in phase III development. Ardelyx President and CEO Mike Raab said in a release the company is confident in the potential of the drug.
3. Mr. Raab said the layoffs align the company to “efficiently execute on our near-term milestones and to create value in the future.”
4. The company announced its second quarter financial data. Ardelyx has $148.7 million in total capital resources, a decrease from the $200.8 million it had as of Dec. 31, 2016.
5. Ardelyx posted a net loss of $25.7 million for the second quarter. It was an increase of $2.9 million year-over-year.
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