Ardelyx Faces Securities Class Action After Guidance Cut

7 sourcesUpdated Oct 2, 2026

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Ardelyx faces a federal securities class action alleging that the company and its executives misled investors about the commercial outlook for its drugs IBSRELA and XPHOZAH, including by failing to disclose growing payer and reimbursement barriers that limited patient access. The complaint says the alleged issues came to light on August 6, 2026, when Ardelyx cut its full-year IBSRELA revenue guidance and withdrew its long-term XPHOZAH sales outlook, citing increased utilization-management restrictions and uncertain market conditions. Ardelyx shares fell about 18% the next day. The proposed class period is January 13, 2025, through August 6, 2026, and investors have until November 16, 2026, to seek appointment as lead plaintiff. These claims are allegations in a lawsuit and have not been established in court.

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The Trump administration has withdrawn the United States from the Council of Europe’s anti-corruption monitoring body, GRECO, saying membership fees bring no tangible national-security benefits and that it will instead use tools such as sanctions and visa restrictions. The Council of Europe praised the U.S. contribution and said it remains open to future cooperation, as the withdrawal adds to Washington’s broader retreat from international organizations.

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