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  • 10/11/2017 14:40:23

    Ardelyx jumps more than 60% after positive study results

    Ardelyx Inc. shares soared more than 60% in after-hours trading Wednesday, after the company reported positive results for a study of a proposed drug. Ardelyx said a second Phase 3 study of tenapanor, a drug targeting irritable bowel syndrome with constipation, reached its primary endpoint and all secondary endpoints, and was well-tolerated by patients. "These results are a game-changer for patients with IBS-C, their treating physicians and for Ardelyx as a company," Ardelyx Chief Executive Mike Raab said in the announcement. The same drug previously failed in a study aimed at using it for kidney disease. Ardelyx shares topped $8.50 in late trading after closing at $5.40.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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