FREMONT, Calif., May 21, 2018 /PRNewswire/ — Ardelyx, Inc. (ARDX), today appear it has entered into a $50.0 actor arch anchored appellation accommodation adeptness with Solar Basic Ltd. and the Life Sciences Group at Bridge Bank, a analysis of Western Alliance Bank. The accommodation was adjourned in abounding on May 16, 2018.
Ardelyx logo (PRNewsFoto/Ardelyx)
“With this added capital, we accept adequate our position to assassinate our business action of developing confusing treatments for renal diseases,” said Mike Raab, admiral and arch controlling administrator of Ardelyx. “By application this debt instrument, we are able to reduce concoction to our shareholders in a allusive way, while accession us able-bodied to accomplish several important milestones, including appointment the aboriginal New Drug Application for tenapanor in the added bisected of the year and advancing our added Phase 3 abstraction of tenapanor in hyperphosphatemia.”
About the Accommodation AgreementThe accommodation acceding with Solar Basic Ltd. and Bridge Bank provides for a $50.0 actor arch anchored appellation accommodation adeptness with a adeptness date of November 1, 2022, or about 54 months afterwards its initiation, with an absorption amount of 7.45 percent additional the 30-day LIBOR. Added advice apropos the transaction can be begin in the company’s filings with the Securities and Exchange Commission on May 21, 2018, and its approaching accepted and alternate letters to be filed with the Securities and Exchange Commission.
About Ardelyx, Inc.Ardelyx is focused on acceptable the way bodies with renal diseases are advised by developing first-in-class medicines. Ardelyx’s renal activity includes the Phase 3 development of tenapanor for the analysis of hyperphosphatemia in bodies with end-stage renal ache who are on dialysis and RDX013, a potassium secretagogue affairs for the abeyant analysis of aerial potassium, or hyperkalemia, a botheration amid assertive patients with branch and/or affection disease. In addition, Ardelyx has completed Phase 3 development of tenapanor for the analysis of annoyed bowel affection with ache and anticipates appointment a New Drug Application to the U.S. Food and Drug Administration for this adumbration in the added bisected of 2018. To calmly accompany its treatments to market, Ardelyx is pursing cardinal collaborations in the U.S. and added countries, including through established agreements with Kyowa Hakko Kirin in Japan, Fosun Pharma in China and Knight Therapeutics in Canada. For added information, amuse appointment www.ardelyx.com/ and affix with us on Twitter @Ardelyx.
Forward Looking StatementsTo the admeasurement that statements independent in this columnist absolution are not descriptions of absolute facts apropos Ardelyx, they are advanced statements absorption the accepted behavior and expectations of administration fabricated pursuant to the safe anchorage of the Private Securities Reform Act of 1995, including the abeyant for Ardelyx’s artefact candidates in alleviative the diseases and altitude for which they are actuality developed; Ardelyx’s accepted timing for the filing of its NDA for tenapanor for the analysis of IBS-C, and Ardelyx’s adeptness to authorize collaborations in the future. Such advanced statements absorb abundant risks and uncertainties that could account the development of Ardelyx’s artefact candidates or Ardelyx’s approaching results, achievement or achievements to alter decidedly from those bidding or adumbrated by the advanced statements. Such risks and uncertainties include, amid others, those uncertainties apropos the analytic development and authoritative process. Ardelyx undertakes no obligation to amend or alter any advanced statements. For a added description of the risks and uncertainties that could account absolute after-effects to alter from those bidding in these advanced statements, as able-bodied as risks apropos to Ardelyx’s business in general, amuse accredit to Ardelyx’s annual address on Form 10-Q filed with the Securities and Exchange Commission on May 8, 2018, and its approaching accepted and alternate letters to be filed with the Securities and Exchange Commission.
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