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IPO Profile: Ardelyx Inc

Company Details

Location: 34175 Ardenwood Boulevard, Fremont, California 94555

Phone: (510) 745-1700


Business Description: Ardelyx, Inc. develops therapeutics acting in the gastrointestinal tract.

Investment & Return Details

VC backers: Amgen Inc, CMEA Development Co LLC, New Enterprise Associates Inc

Investment Dates: 06/07/2008, 12/07/2010, 06/23/2011, 08/31/2011

Total Funding To Date (USD Mil): $56.09

Value of VCs’ shares at IPO price (USD Mil): $1,347.21

Total return to VCs at IPO price: 24.02x

Shares Beneficially owned by VCs at Offering:

  • Amgen Inc: 7,069,025
  • CMEA Development Co LLC: 34,146,415
  • New Enterprise Associates Inc: 55,013,669
  • Total: 96,229,109

Value of VC shares at IPO price (USD Mil):

  • Amgen Inc: $98.97
  • CMEA Development Co LLC: $478.05
  • New Enterprise Associates Inc: $770.19
  • Total: $1,347.21

IPO Details

Primary Exchange: Nasdaq

Ticker: ARDX

Time to Exit (Years): 6.0

Date Filed: 05/19/2014

Date Issued: 06/18/2014

Offer Price (USD): $14.00

First Day Closing Price (USD): $14.11

No. of Shares Offered + Overallot Sold All Mkts: 4,928,900

Proceeds Amt + Overallot Sold All Markets (USD Mil): $69.01

Post Offer Value (USD Mil): $ 259.41

Issuer’s Legal Advisor: Latham & Watkins

Book Runner: Citigroup Global Markets Inc, Leerink Partners LLC

Co-Managers: Wedbush Securities, Inc.

Source: Thomson Reuters and company prospectus