ARDX Shareholder Alert: Ardelyx, Inc. Securities Class Action Lawsuit - Investors Should Contact SueWallSt

Promise vs. Reality: Ardelyx pointed investors toward $1.75 billion in combined peak sales for IBSRELA and XPHOZAH, while the complaint alleges payer utilization-management barriers were already restricting patient access before the Company cut 2026 guidance and withdrew its long-term XPHOZAH target

NEW YORK, Sept. 29, 2026 (GLOBE NEWSWIRE) -- SueWallSt notifies investors in Ardelyx, Inc. (NASDAQ: ARDX) that a class action has been filed on behalf of shareholders who purchased securities between January 13, 2025 and August 6, 2026. Find out if you might qualify for recovery. You may also contact Joseph E. Levi, Esq. at jlevi@SueWallSt.com or (888) SueWallSt.

ARDX closed at $4.87 per share on August 6, 2026 and fell to $4.00 on August 7, 2026, a one-day decline of $0.87 per share, or approximately 18%. The lead plaintiff deadline is November 16, 2026.

The Promise

On January 13, 2025, the company projected peak U.S. annual sales of $750 million for XPHOZAH and greater than $1 billion for IBSRELA, following approximately $319 million in 2024 U.S. net product sales. Full year 2025 IBSRELA guidance was set at $240 million to $250 million, against $158.3 million in 2024. Management told investors that patient access and affordability would be adjudicated internally so that prescribing habits would not change.

The Reality

After the market closed on August 6, 2026, results revealed a reduction in full year 2026 IBSRELA revenue guidance and a withdrawal of the long-term XPHOZAH revenue guidance. The Company attributed the reduction to significantly increased payer utilization-management processes that restricted patient access to IBSRELA and slowed new-patient starts, and cited "evolving market dynamics" and uncertainty regarding future XPHOZAH growth.

Promise vs. Actual: By the Numbers

• Promised: greater than $1 billion in peak annual U.S. net sales for IBSRELA. Actual: full year 2026 IBSRELA revenue guidance reduced.
• Promised: $750 million in peak annual U.S. net sales for XPHOZAH. Actual: long-term XPHOZAH revenue guidance withdrawn.
• Promised: $240 million to $250 million in 2025 IBSRELA net sales, described as roughly 52% annual growth over $158.3 million in 2024.
• Promised: prescriptions pulled through regardless of payer coverage. Alleged reality: more stringent prior authorization and step edit requirements that slowed new-patient starts and delayed fulfillment.
• Investor result: $4.87 to $4.00 per share, a loss of $0.87 per share (about 18%) in a single session.
  
  

What the Lawsuit Alleges About the Gap

The gap demonstrates, according to the complaint, that shareholders purchased ARDX at artificially inflated prices while increasing payer-related access and reimbursement barriers were allegedly not disclosed.

"Companies that make specific promises to investors about future performance have an obligation to disclose known risks to those projections. Here, the complaint alleges Ardelyx reaffirmed a $1.75 billion combined peak sales expectation while payer utilization-management barriers were allegedly already affecting patient starts." -- Joseph E. Levi, Esq.

Submit your information now or call (888) SueWallSt.

WHY SUEWALLST: SueWallSt is powered by Levi & Korsinsky LLP. Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.

Frequently Asked Questions About the ARDX Lawsuit

Q: When did Ardelyx, Inc. allegedly mislead investors? A: The Class Period runs from January 13, 2025 to August 6, 2026. The complaint alleges that corrective disclosures revealed information that caused a significant stock decline.

Q: What court was the ARDX class action filed in? A: The case was filed in the United States District Court for the District of Massachusetts, governed by the Private Securities Litigation Reform Act of 1995.

Q: Who are the defendants named in the ARDX lawsuit? A: The complaint names Ardelyx, Inc. and individual defendants including senior executives who signed SEC filings, made public statements, or certified financial disclosures under Sarbanes-Oxley.

Q: What do ARDX investors need to do right now? A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Submit your information for a no-cost, no-obligation evaluation of your potential recovery. No immediate action is required to remain eligible as an absent class member.

Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.

Q: What if I already sold my ARDX shares, can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.

Q: What does it cost me to participate? A: There is no upfront cost to submit your information and review whether you may be eligible to recover. Should you choose to participate in the securities class action, they are generally handled on a contingency basis, with any attorneys' fees and expenses subject to court approval.

Q: How long will the lawsuit take to resolve? A: Securities class actions typically take two to four years from initial filing to resolution. Timing depends on the court schedule, case developments, and whether the matter is dismissed, settled, or litigated further.

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@SueWallSt.com
Tel: (888) SueWallSt
Fax: (212) 363-7171

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