Ardelyx reports Q4 EPS (66c), consensus (66c)
"We're very proud of what we achieved in 2016 and have continued to build on that momentum in 2017, with a number of additional important milestones ahead of us," said Mike Raab, president and chief executive officer of Ardelyx. "The positive data we reported from our first Phase 3 clinical trial of tenapanor for hyperphosphatemia provides a terrific start to 2017, and we plan to begin our second Phase 3 trial for tenapanor for hyperphosphatemia by mid-year. We also plan to report Phase 3 results from our T3MPO-1 and T3MPO-2 trials of tenapanor in IBS-C by mid-year and the end of the year, respectively. These milestones are significant and, if positive, will drive us down our path of becoming an independent, fully integrated and revenue generating biotechnology company in the next several years, while bringing meaningful new medicines to the millions of patients who are underserved by current treatment options."