• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • TheStreet Smarts
  1. Home
  2. / Investing
  3. / Healthcare

Ardelyx Soars on Positive Phase 3 Data -- Biotech Movers

The Fremont, Calif.-based firm has unveiled positive results from its second Phase 3 study of tenapanor for irritable bowel syndrome with constipation.
By ARMIE MARGARET LEE Oct 12, 2017 | 09:29 AM EDT
Stocks quotes in this article: ARDX, TRVN, OPHT

Shares of Ardelyx Inc. (ARDX) jumped 41.7% to $7.65 ahead of the market open on Thursday, Oct. 12, after the Fremont, Calif.-based firm unveiled positive results from its second Phase 3 study of tenapanor for irritable bowel syndrome with constipation.

In the news release issued after the market close on Wednesday, Ardelyx president and CEO Mike Raab called the results a "game-changer for patients with IBS-C, their treating physicians and for Ardelyx as a company."

"These results show that tenapanor has significant potential in the market and bolsters our commitment to identify the ideal collaboration partner to help ensure that we reach the most patients possible who would benefit from therapy," Raab added.

Meanwhile, shares of Trevena Inc. (TRVN) were down 15.6% to $2 after the Chesterbrook, Pa.-based company
said it is trimming its workforce by about 30%, or 21 full-time employees, mainly from its research team. As part of the restructuring,  chief scientific officer Michael Lark, Ph.D., will leave the company in mid-December. 

Trevena said it is halting its investment in early-stage research, opting to focus its resources on the potential approval and commercialization of Olinvo (oliceridine injection) in the U.S. The firm said it plans to complete the ongoing Phase 1 study of TRV250 for acute migraine, after which it will evaluate options for further development of the asset, as well as for its series of novel S1P modulators for neuropathic pain.

The company also said its new drug application for Olinvo continues to be on pace for submission to the U.S. Food and Drug Administration this month.

Among the other biotech stock movers was Ophthotech Corp. (OPHT) , up 4.7% to $2.65.

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are restricted from trading individual securities.

TAGS: Investing | U.S. Equity | Healthcare

More from Healthcare

There Are Market Bright Spots, but I View the July Rally as a Head Fake

Bret Jensen
Aug 3, 2022 10:30 AM EDT

It's hard to see stock valuations rising when inflation remains high and the economy appears headed for a recession if it isn't in one already.

A Recession Appears Inevitable, but There Are Still Places to Invest

Bret Jensen
Jul 27, 2022 10:30 AM EDT

A few homebuilders and healthcare stocks seem likely to hold up better than most of the market in a recession.

Change Healthcare Continues to Knock on a Breakout Level

Bruce Kamich
Jul 25, 2022 11:25 AM EDT

The CHNG chart is at an interesting juncture.

The Healing Process Begins for Cano Health

Bruce Kamich
Jul 21, 2022 1:30 PM EDT

Here's how to approach CANO as the shares have made a bottom formation.

With HCA Healthcare, I'm Getting Healthy Indications

Bruce Kamich
Jul 21, 2022 9:20 AM EDT

The healthcare provider is set to report earnings Friday.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 09:24 AM EDT PETER TCHIR

    Jobs Report Reaction: Incredibly Strong, But Questions to Ask

    An incredibly strong July jobs report. Not only d...
  • 08:54 AM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    The Secret to Dealing With FOMO
  • 03:51 PM EDT REAL MONEY

    AMD Second-Quarter Earnings Live Blog

    Real Money's Eric Jhonsa covers 's second-quarte...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2022 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login