Ardelyx receives Nasdaq deficiency notice for minimum bid price; seeks reverse stock split approval

ARDELYX, INC.

Nasdaq letter on May 23, 2022, for failure to maintain $1.00 minimum closing bid per share.
Company has 180-day grace period to regain compliance; bid price must close at $1.00+ for 10 consecutive days.
Ardelyx will ask stockholders to approve reverse stock split at June 15, 2022 annual meeting.
If approved, board may effect reverse split by September 15, 2022 to regain compliance.
No assurances of regaining compliance; potential delisting risk remains.

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