Ardelyx, Inc. (NASDAQ:ARDX) Q2 2018 Earnings Conference Call - Final Transcript

Aug 07, 2018 • 04:30 pm ET

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Ardelyx, Inc. (NASDAQ:ARDX) Q2 2018 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good afternoon, and welcome to Ardelyx's Conference Call. (Operator Instructions). As a reminder, today's call is being recorded.

I would now like to turn the call over to Alicia Davis of Thrust Strategic Communications. You may begin.

Executive
Alicia Davis

Thank you Sandra and good afternoon everyone. Earlier today, we issued a press release outlining Ardelyx's second quarter 2018 operating results. The press release and our corporate presentation are available in the Investors section of the company's website at ardelyx.com. On the call with me today is Mike Raab, President and CEO. Additional members of the team will join us for the Q&A session.

(Forward-Looking Cautionary Statements) With that, let me pass the call over to Mike.

Executive
Michael Raab

Thanks, Alicia and good afternoon everyone. The first half of 2018 has been about execution and evolution for Ardelyx. As a company, we are focused on developing and bringing to market first-in-class medicines for renal diseases. This is an area of development that has seen little innovations by our industry despite the numbers of people affected, the significant cost of these disorders to our health care system and a clear need for new treatments.

We owe these underserved patients and their physicians treatment options with unique mechanisms of action that are effective, tolerable and suitable for long-term use. This is precisely the role we see for tenapanor and why we are confident in its future. The strength of our expertise in the renal space, combined with our knowledge of the physician leaders, community center and payer landscape, makes me confident in our ability to build an effective, specialized U.S. commercial organization targeting nephrologists.

Our plan is to bring tenapanor to market for hyperphosphatemia ourselves, along with potential new treatments for hyperkalemia and other renal disorders. For our GI programs, we are presenting strategic agreements that would bring them to market in all geographies worldwide.

We are well underway with our partnering efforts with several established agreements. We have an agreement with Fosun Pharma to bring tenapanor to patients in China for both IBS-C and cardiorenal diseases; an agreement with Kyowa Hakko Kirin to bring tenapanor for cardiorenal diseases, including hyperphosphatemia, to patients in Japan; and agreement with Knight Therapeutics to bring tenapanor to patients with IBS-C and cardiorenal diseases in Canada. Each of these play an important role in our future as we focus our near-term efforts on hyperphosphatemia and hyperkalemia.

We see a significant opportunity to bring a better treatment option for hyperphosphatemia to end-stage renal disease patients on dialysis. ESRD, the last stage of chronic kidney disease, is a major problem in the United States, which currently requires dialysis or a quick kidney transplant in order for a patient to stay alive. Of the more than 400,000 people in United States with ESRD who are on dialysis, nearly all require phosphate management. And we know that hyperphosphatemia is an independent predictor of morbidity and mortality in this patient population. We believe tenapanor has the potential to change the care of patients with hyperphosphatemia with just