ARDX stock market alert: IBS pharmaceutical news sends Ardelyx shares booming today
Ardelyx (NASDAQ:ARDX) Action skyrockets Wednesday following an update on the treatment of irritable bowel syndrome with constipation (ISB-C) in adults.
The drug is called IBSRLA and Ardelyx plans to release it in the second quarter of 2022. Ardelyx says it will spend the next few months building a commercial inventory of the treatment ahead of its release.
According to Ardelyx, there is huge potential for IBSRELA thanks to the growing market for IBS-C treatments. If the company can capture a subset of these patients representing a mid-to-high single-digit market share, IBSRLA could generate at least $ 500 million in revenue per year.
Mike Raab, President and CEO of Ardelyx, says the following in the press release sending ARDX stock higher today.
âOver the past five years, the market for IBS-C has grown to be large and concentrated, with 9,000 high-writing physicians accounting for approximately 50% of the nearly five million prescriptions written each year for drugs indicated for the treatment of. SCI-C. This market is ripe for the entry of a new therapeutic option like IBSRELA, as existing therapies do not adequately meet all of the treatment needs of patients.
It should be noted that today’s news shows that ARDX stocks are trading intensely. As of this writing, over 160 million shares have changed hands. That’s a massive increase from its average daily trading volume of around 4 million shares.
ARDX stock is up 35.5% Wednesday morning but is still down 76.2% year-to-date.
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At the date of publication, William White did not hold (directly or indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publication guidelines.
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