Ardelyx shareholders reject reverse stock split; Nasdaq listing at risk

ARDELYX, INC.

Reverse stock split proposal failed: 63.5M for (44% of outstanding), 33.4M against, insufficient to meet >50% threshold.
Company received Nasdaq deficiency notice on May 23, 2022, for bid price below $1.00; 180-day grace period to comply.
Board authorized to consider options to regain compliance or preserve listing, but no assurances given.
Meeting reconvened solely for Proposal No. 2; original meeting adjourned due to low turnout.

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