Ardelyx falls on tenapanor Phase II data

Ardelyx Inc. (NASDAQ:ARDX) fell $7.76 (29%) to $19.25 on Monday after it said tenapanor ( AZD1722) met the primary endpoint in a Phase IIb trial to treat hyperphosphatemia but led to rates of diarrhea that were "distinctly higher than expected."

In the 161-patient trial, tenapanor led to a statistically significant and dose-dependent decrease in serum phosphate levels vs. placebo (p=0.012), the trial's primary endpoint, in patients with chronic kidney disease (CKD) on hemodialysis. The compound is a small molecule inhibitor of non-absorbed solute carrier family 9 sodium hydrogen exchanger member 3. ...