Ardelyx Prices IPO At $14/Shr, Midpoint Of Expected Range

(RTTNews) - Ardelyx, Inc., a clinical-stage biopharmaceutical company focused on cardio-renal, GI and metabolic diseases, announced the pricing of initial public offering of 4.286 million common shares at $14.00 per share, the midpoint of the expected range. The offering is expected to close on June 24, 2014.

In the amended S-1 filing with the SEC, the company planned to offer 3.6 million shares in the range of $13.00 - $15.00 per share.

The Fremont, California-based company shares are expected to begin trading on The NASDAQ Global Market under the ticker symbol "ARDX" on June 19, 2014.

Ardelyx, which was founded in 2007, has granted underwriters a 30-day option to buy up to an additional 642,900 shares to cover over-allotments, if any.

Citigroup and Leerink Partners are acting as joint book-running managers for the proposed offering. JMP Securities is acting as the lead manager and Wedbush PacGrow Life Sciences is acting as co-manager.