ARDX Shareholder Alert: November 16, 2026 Lead Plaintiff Deadline in Ardelyx, Inc. Securities Class Action - Contact SueWallSt

Regulatory Compliance Focus: The lawsuit contends Ardelyx assured the market it had confidently addressed a shifting Medicare reimbursement environment for XPHOZAH and IBSRELA, while payer utilization-management requirements were allegedly tightening behind the scenes.

NEW YORK, Oct. 22, 2026 /PRNewswire/ -- SueWallSt notifies investors in Ardelyx, Inc. (NASDAQ: ARDX) that a securities class action has been filed on behalf of shareholders who purchased or otherwise acquired ARDX securities between January 13, 2025 and August 6, 2026. Submit your information now. You may also contact Joseph E. Levi, Esq. at [email protected] or (888) SueWallSt.

ARDX closed at $4.87 on August 6, 2026 and closed at $4.00 the next session, a one-day decline of $0.87 per share, or approximately 18%. The lead plaintiff deadline is November 16, 2026.

What the Company Disclosed About Medicare Coverage Changes

After XPHOZAH lost Medicare Part D coverage, Ardelyx's public disclosure language indicated that the only thing that had changed was payer coverage and that prescribing and patient access would continue as before. Company statements in February 2025 described the reimbursement environment as a challenge management had confidently addressed, while reaffirming combined peak sales expectations of $1.75 billion for XPHOZAH and IBSRELA.

The complaint challenges whether that framing told investors what they needed to know about the regulatory and payer forces already shaping demand.

Disclosure Gaps Alleged

• Alleged failure to disclose that prior authorization requirements had become more stringent even as the Company described its access strategy as working
• Alleged omission that payer step edit requirements were slowing new-patient starts and delaying prescription fulfillment
• Alleged reaffirmation of full year 2025 IBSRELA guidance of $240 million to $250 million without disclosing intensifying utilization-management pressure
• Alleged presentation of the Medicare Part D exclusion as a coverage change the Company's patient services program could absorb
• Alleged reliance on general reimbursement-environment commentary in place of specific disclosure of access barriers said to be building
• Alleged maintenance of a $750 million long-term XPHOZAH target and a greater than $1 billion IBSRELA target while those barriers allegedly persisted

"General commentary about a challenging reimbursement environment is not the same as disclosing that payer utilization-management requirements are already slowing new-patient starts. The complaint alleges Ardelyx reaffirmed a $750 million peak sales target for XPHOZAH well after Medicare Part D coverage ended, and shareholders are entitled to ask what was known at the time." -- Joseph E. Levi, Esq.

Regulatory Reality Behind the August 6, 2026 Guidance Reset

After the market closed on August 6, 2026, Ardelyx announced a reduction in full year 2026 IBSRELA revenue guidance and withdrew its long-term XPHOZAH revenue guidance. The Company attributed the reduction to significantly increased payer utilization-management processes that restricted patient access and slowed new-patient starts, and cited evolving market dynamics and uncertainty regarding future XPHOZAH growth. The action, brought in the United States District Court for the District of Massachusetts, asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act and Rule 10b-5.

Find out if you might qualify to recover losses or call (888) SueWallSt.

WHY SUEWALLST: SueWallSt is powered by Levi & Korsinsky LLP. Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.

Frequently Asked Questions About the ARDX Lawsuit

Q: What is the ARDX class action lawsuit about? A: A securities class action has been filed against Ardelyx, Inc. (NASDAQ: ARDX) alleging materially false and misleading statements between January 13, 2025 and August 6, 2026. Shares fell approximately 18% after the Company disclosed a reduction in full year 2026 IBSRELA revenue guidance and the withdrawal of its long-term XPHOZAH revenue guidance, citing significantly increased payer utilization-management processes. Investors who purchased shares during the Class Period and suffered losses may be eligible to seek compensation.

Q: Who is eligible to join the ARDX investor lawsuit? A: Investors who purchased ARDX stock or securities between January 13, 2025 and August 6, 2026 and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses, not on whether you still hold the shares.

Q: What court was the ARDX class action filed in? A: The case was filed in the United States District Court for the District of Massachusetts, governed by the Private Securities Litigation Reform Act of 1995.

Q: What do ARDX investors need to do right now? A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Submit your information for a no-cost, no-obligation evaluation of your potential recovery. No immediate action is required to remain eligible as an absent class member.

Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.

Q: What if I already sold my ARDX shares, can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.

Q: What does it cost me to participate? A: There is no upfront cost to submit your information and review whether you may be eligible to recover. Should you choose to participate in the securities class action, they are generally handled on a contingency basis, with any attorneys' fees and expenses subject to court approval.

Q: What if I live outside the United States? A: U.S. securities class actions generally cover purchases on U.S. exchanges regardless of the investor's country of residence.

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

33 Whitehall Street, 27th Floor

New York, NY 10004

[email protected]

Tel: (888) SueWallSt

Fax: (212) 363-7171

Attorney Advertising. Prior results do not guarantee similar outcomes.

SOURCE SueWallSt.com