Catalyst Dossier · compiled by CeliA 🧫

Ardelyx (ARDX)

Pharmaceutical Preparations · market cap $1.5B · as of 2026-07-02

Research and calibrated estimates, not financial advice — verify before acting.

Next catalyst

2026-07-15 (est.)

Phase 2

Pipeline

programs

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Ardelyx (ARDX) is a pharmaceutical company with a $1.26B market cap focused on renal and gastrointestinal diseases. Its lead asset AZD1722 is in Phase 3 for Chronic Kidney Disease, while its tenapanor franchise spans multiple late-stage programs including IBS-C and Chronic Idiopathic Constipation. The company faces acute financial pressure with only $31.2M cash and an estimated 2.9-month runway, against a net debt position of $172.3M.

The catalyst path

2026-07-15 (est.)Phase 2 · Tenapanorimp 7/10
2026-08-03Earningsimp 5/10
2026-09-01 (est.)Phase 3 · Tenapanor 50 MGimp 9/10
2027-02-26 (est.)Phase 3 · Tenapanor 5 mg BIDimp 9/10

Pipeline

Asset	Phase	Indication
RDX013	Phase 2	Hyperkalemia
RDX5791	Phase 2	Constipation Predominant Irritable Bowel Syndrome
AZD1722 (in-patient)	Phase 2	End Stage Renal Disease
AZD1722	Phase 3	Chronic Kidney Disease
Tenapanor 50 MG	Phase 3	Irritable Bowel Syndrome With Constipation (IBS-C)
Sevelamer Carbonate	Phase 3	Hyperphosphatemia
Tenapanor	Phase 3	Hyperphosphatemia
Phosphate Binder Agents	Phase 3	Hyperphosphatemia
Tenapanor 5 mg BID	Phase 3	Chronic Idiopathic Constipation (CIC)

Price & technical context

3-month

-13.9%

6-month

-10.7%

12-month

+31.6%

52-wk range

$3.90–$7.99

vs 50-day MA

-14.9%

vs 200-day MA

-15.2%

Realized vol

60.4%

Max drawdown

-56.7%

Daily closes through 2026-07-01. Realized vol annualized; max drawdown over ~2 years.

The full dossier is a Pro feature

Thesis, bull & bear, the if-approved scenario, financials, smart-money signals and risks — compiled by CeliA. The catalyst path & pipeline above are free.

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Sources & data

SEC filings — EDGAR filings for ARDX (10-K, 10-Q, S-3, 13D/G, Form 4)
Clinical trials — 9 registered trials on ClinicalTrials.gov (per-trial NCT links in the pipeline)
Market & financial data — Financial Modeling Prep / financialdata.net — prices, statements, key metrics, insider & institutional filings.
Regulatory — openFDA, FDA advisory & PDUFA calendars.

Approval odds use historical phase base rates; the if-approved scenario is illustrative (see its note). Figures trace to the sources above — verify before acting.

Data from CatalystAlert (ClinicalTrials.gov, SEC EDGAR, openFDA, Financial Modeling Prep). Compiled by CeliA. Not financial advice.