Ardelyx Faces Securities Class Action

Several law firms announced securities class actions against Ardelyx on behalf of investors who acquired its stock between Jan. 13, 2025, and Aug. 6, 2026. The complaints allege the company and some executives misrepresented or failed to disclose growing insurance-coverage and reimbursement barriers affecting access to its IBSRELA and XPHOZAH drugs, undermining new prescriptions and growth prospects. Ardelyx cut its 2026 IBSRELA revenue forecast and withdrew its long-term XPHOZAH guidance on Aug. 6, citing payer restrictions and uncertainty; its shares fell sharply the next day. Investors have until Nov. 16, 2026, to ask the court to appoint them as lead plaintiff.