Peter Kolchinsky‘s RA Capital Management has stepped up its interest in Ardelyx Inc. (NASDAQ:ARDX). As reported in a recent filing with the Securities and Exchange Commission, the fund now holds 3.46 million shares of the stock, plus warrants to acquire an additional 168,225 shares, giving it economic exposure to 7.7% of Ardelyx’s common stock. At the end of March, RA Capital reportedly held 2.3 million shares.
Founded in 2007, Ardelyx Inc. (NASDAQ:ARDX) engages in the research and development of minimally-systemic therapeutics for the treatment of gastrointestinal and cardio-renal diseases. Tenapanor, the company’s top candidate, is currently undergoing Phase 3 trials and has so far demonstrated efficiency in reducing the absorption of dietary sodium and phosphorus, which are key factors in some kidney diseases. The first results from the trials are expected in 2017. The recently agreed-upon takeover of Relypsa Inc (NASDAQ:RLYP) by Galenica has sparked speculation that Ardelyx might be next in line for a takeover, as Relypsa’s top drug, Veltassa, has properties similar to those of Ardelyx’s candidates.
At the end of the first quarter, approximately 17% of Ardelyx Inc. (NASDAQ:ARDX)’s common stock was held by nine of the funds tracked by Insider Monkey, up from seven long positions registered three months earlier. Bihua Chen‘s Cormorant Asset Management was also invested in this stock, having indicated ownership of 1.48 million shares of it in its latest 13F filing. James E. Flynn‘s Deerfield Management established a fresh position in the stock during the first quarter, having amassed 275,000 Ardelyx shares by the end of March.
You can access the original SEC filing by clicking here.
Ownership Summary Table
|Name||Sole Voting Power||Shared Voting Power||Sole Dispositive Power||Shared Dispositive Power||Aggregate Amount Owned Power||Percent of Class|
|RA Capital Management||0||3,625,943||0||3,625,943||3,625,943||7.7%|
|RA Capital Healthcare Fund||0||2,451,968||0||2,451,968||2,451,968||5.2%|
Page 1 of 7 – SEC Filing
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