Strezsak
Strezsak v. Ardelyx Inc.
Opinion
Trial Court Opinion
UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA 5 STEVEN STREZSAK, et al., Case No. 21-cv-05868-HSG
Plaintiffs, ORDER GRANTING MOTION TO
DISMISS
v. Re: Dkt. No. 114 ARDELYX INC., et al., Defendants.
11 Pending before the Court is a motion to dismiss Lead Plaintiff’s putative securities class action filed by Defendants Ardelyx Inc., Mike Raab, Justin Renz, and David Rosenbaum (“Defendants”). Dkt. No. 114. The Court finds the matter appropriate for disposition without oral argument and the matter is deemed submitted. See Civil L.R. 7-1(b). For the reasons below, the Court GRANTS the motion to dismiss without leave to amend. I. BACKGROUND A. Factual Background Defendant Ardelyx is a biopharmaceutical company that began developing tenapanor around 2009 as a treatment for irritable bowel syndrome. Dkt. No. 113 ¶ 26 (Third Amended Complaint (“TAC”)). Several years later, Ardelyx pivoted to seeking FDA approval of tenapanor for the treatment of hyperphosphatemia, a condition…