Ardelyx Inc (ARDX): RA Capital Management Discloses 7.3% Passive Stake

On June 3, Ardelyx Inc (NASDAQ:ARDX) announced that it wants to raise about $77.8 million in a private placement, with the company entering into an agreement to sell its common stock shares and warrants to purchase shares of common stock. New Enterprise Associates, the company’s largest shareholder with ownership of 5.62 million shares, will invest about $50.2 million in the private placement, while the remaining $27.6 million will be invested by a combination of new and existing investors, including RA Capital Management, according to a statement by the company.

For the first quarter of 2015, Ardelyx Inc (NASDAQ:ARDX) posted a net loss of $3.5 million, or $0.19 per share, versus a loss of $3.1 million, or $2.44 per share, in the first quarter of 2014. Total revenue for the quarter was $5.9 million, down from $8.6 million in the same period last year. It seems that Ardelyx Inc (NASDAQ:ARDX)’s announcements during the last week have had a positive impact on the company’s stock, which has gained 14.04% during the last four days and a tremendous 74.76% during the last month. Among the shareholders of Ardelyx Inc (NASDAQ:ARDX) to benefit from those gains were Hal Mintz‘s SABBY Capital and Jim Simons’ Renaissance Technologies, which held 112,174 shares and 51,600 shares of the company respectively, as of the end of the first quarter.

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