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Aug 4, 2021 3:20pm Ardelyx expects its restructuring move to save about $17 million in yearly cash compensation costs. (Getty/AndreyPopov) In the aftermath of a surprise FDA rejection in chronic kidney disease, Ardelyx is tightening its belt. July 29, the day after the FDA bounced back the company’s NHE3 inhibitor tenapanor, Ardelyx’s board gave the all-clear for a restructuring plan aimed at reducing operating costs and streamlining its workforce, the biotech said (PDF) this week in a U.S. securities filing. Under the restructuring plan, which kicked off Monday and is expected to wrap up this month, the biotech will part ways with 33% of its workforce, or about 83 employees. Ardelyx expects the move to save about $17 million in yearly costs. ....
Ardelyx's dialysis drug on ropes, but frustrated CEO not giving up - San Francisco Business Times bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.
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FDA Wants Another Study Before Deciding on Tenapanor Approval empr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from empr.com Daily Mail and Mail on Sunday newspapers.
FDA rejects a biotech's kidney drug, but some analysts still see a 'sliver of hope' biopharmadive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from biopharmadive.com Daily Mail and Mail on Sunday newspapers.