Ardelyx, to discontinue development of RDX 7675 for the treatment of hyperkalemia.

Ardelyx, Inc. provided an update on the development of its cardiorenal pipeline. The company's second registration study for tenapanor for the treatment of hyperphosphatemia will begin enrolling shortly, after having received feedback from the FDA on the trial design. In addition, Ardelyx reported clinically meaningful potassium lowering activity from its onset-of-action study for RDX 7675 for the treatment of hyperkalemia; however, the company also observed an unexpected side effect of decreased serum bicarbonate.

The company believes this will limit the commercial potential of RDX 7675 and, as a result, has decided to discontinue development of RDX 7675. This change will result in a cash savings of approximately $40 million to Ardelyx over the next two years, extending the company's operating runway into 2019.