Why Ardelyx Inc Skyrocketed Higher Today

Ardelyx (NASDAQ: ARDX) stock rose 44% on Thursday after the company announced positive data from the phase 3 T3MPO-2 trial testing its irritable bowel syndrome drug, tenapanor, after the close of the bell last night.

Of the patients taking tenapanor, 36.5% were deemed responders, a statically significant increase over the 23.7% responder rate for patients taking placebo. Responders were defined as having at least a 30% reduction in abdominal pain and an increase of one or more complete spontaneous bowel movements in the same week for at least six of the 12 weeks of the treatment period.

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Source: Fool.com