Spherix Global Insights

August 05, 2021

Ardelyx Slashes One-Third of its Workforce After FDA Rejection for Key Kidney Disease Prospect

From: FiercePharma

By: Fraiser Kansteiner



In the aftermath of a surprise FDA rejection in chronic kidney disease, Ardelyx is tightening its belt.

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…(read more)