Ardelyx Announces Acceptance Of New Drug Application For Tenapanor For Hyperphosphatemia In China; Triggers $2M Milestone Payment To Ardelyx Under The Terms Of The License Agreement Between Co And Shanghai Fosun Pharmaceutical Industrial Development Co.
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Ardelyx, Inc. (NASDAQ:ARDX) announced that a New Drug Application (NDA) for tenapanor has been accepted for review by China's Center for Drug Evaluation of the National Medical Products Administration (NMPA). This triggers a $2 million milestone payment to Ardelyx under the terms of the license agreement with Shanghai Fosun Pharmaceutical Industrial Development Co. Ltd. (Fosun Pharma). A potential approval of the NDA submission in China is expected by the end of 2024.
July 13, 2023 | 12:06 pm
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Ardelyx's NDA for tenapanor has been accepted for review in China, triggering a $2M milestone payment from Fosun Pharma. This could potentially boost Ardelyx's revenues and strengthen its financial position.
The acceptance of the NDA for tenapanor in China is a significant step for Ardelyx, as it not only triggers a $2M milestone payment from Fosun Pharma, but also opens up a new market for the drug. This could potentially increase Ardelyx's revenues and strengthen its financial position, which would likely have a positive impact on its stock price.
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