Ardelyx shares fall on $100 million shelf plan despite strong Q3
Ardelyx (ARDX) shares fell nearly 6% in after-hours trade after the biotech filed a $100 million shelf registration through Jefferies, raising dilution concerns. The move followed a strong Q3, with revenue up 12% year-over-year and Ibsrela sales surging 92%. Retail traders largely viewed the filing as a standard step for funding flexibility.