Ardelyx (ARDX) Securities Investigation Notice - Levi & Korsinsky

The guidance gap is documented in the Company's own disclosures. On April 30, 2026, Ardelyx reiterated 2026 IBSRELA revenue guidance of $410 million to $430 million. On August 6, 2026, the Company reduced that range to $350 million to $370 million, citing significantly increased payer utilization-management processes -- additional step edits and more stringent prior authorizations -- that slowed new-patient starts. On the call, management stated the extent of the payer restrictions "was not something that one would anticipate."

The investigation concerns whether Ardelyx adequately disclosed the payer headwinds developing beneath the reiterated guidance. Shareholders do not pay anything to participate and do not need to still hold their shares to be eligible.

Investors who purchased Ardelyx shares and suffered a loss are encouraged to speak with an attorney about recovering ARDX losses . You may also contact Joseph E. Levi, Esq. at (212) 363-7500.

Levi & Korsinsky, LLP  | Top 50 Securities Firm | (212) 363-7500 | www.zlk.com

Frequently Asked Questions About the ARDX Investigation

Q: Which statements are being investigated as potentially misleading?  A: The investigation concerns whether Ardelyx made materially false or misleading statements regarding its 2026 IBSRELA revenue outlook and the payer utilization-management pressures affecting new-patient starts. When the Company reduced that guidance from $410-$430 million to $350-$370 million and withdrew its long-term $750 million XPHOZAH target, the stock declined 17.86%.

Q: How much did ARDX stock drop?  A: Shares fell approximately 17.86%, closing at $4.00 on August 7, 2026, after the Company lowered full-year 2026 IBSRELA revenue guidance and withdrew its long-term XPHOZAH target. Investors who purchased shares and suffered losses may be eligible to seek compensation.

Q: Who is eligible to participate in the ARDX investigation?  A: Investors who purchased ARDX stock or securities and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses -- not on whether you still hold the shares.

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 to participate in the investigation.

Q: What documents do I need to participate?  A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.

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 ARDX and sold at a loss may still participate in the investigation.

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 any resulting action, these matters are generally handled on a contingency basis, with any attorneys' fees and expenses subject to court approval.

Q: Do I need to go to court or give testimony?  A: No. Participating in the investigation does not require court appearances or depositions. If legal action is later pursued, the overwhelming majority of affected investors never appear in court either.

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

Ed Korsinsky, Esq.

33 Whitehall Street, 27th Floor

New York, NY 10004

jlevi@levikorsinsky.com 

Tel: (212) 363-7500

Fax: (212) 363-7171

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SOURCE Levi & Korsinsky, LLP