Ardelyx, Inc. Announces Executive Promotions and New Hire to Enhance Leadership Team

Ardelyx promotes Mike Kelliher to Chief Business Officer and hires James P. Brady as Chief Human Resources Officer.

Quiver AI Summary

Ardelyx, Inc. has announced the promotion of Mike Kelliher to Chief Business Officer and the hiring of James P. Brady as Chief Human Resources Officer. Kelliher, who joined Ardelyx in March 2024 as Executive Vice President of Corporate Development and Strategy, will now oversee lifecycle and portfolio management in addition to his previous roles in business development and corporate strategy. Brady, a seasoned HR executive, brings extensive experience from previous positions, including Chief Human Resources Officer at Spero Therapeutics. Ardelyx's leadership is optimistic that these appointments will enhance growth and value creation, aligning with the company's mission to develop innovative medicines for unmet medical needs.

Potential Positives

Mike Kelliher's promotion to Chief Business Officer reflects the company's commitment to leadership continuity and strategic growth, indicating confidence in his capabilities to drive value creation.
The appointment of James P. Brady as Chief Human Resources Officer brings experienced leadership to the HR function, which is crucial for building a high-performing team to support the company's expansion.
With two approved commercial products, Ardelyx continues to enhance its position in the biopharmaceutical market, showcasing its ability to meet significant unmet medical needs.
The company’s focus on experienced leadership with a successful track record, as highlighted in the backgrounds of Kelliher and Brady, suggests a proactive approach towards achieving long-term business objectives.

Potential Negatives

Promotion of internal executives may suggest a lack of new external talent, raising concerns about the diversity of leadership perspectives and innovation within the company.
The appointment of a Chief Human Resources Officer could imply previous gaps or issues in employee management and organizational development that needed addressing.

FAQ

Who has been promoted at Ardelyx?

Mike Kelliher has been promoted to Chief Business Officer at Ardelyx.

What is Mike Kelliher's new role at Ardelyx?

He is now responsible for lifecycle and portfolio management, in addition to business development and corporate strategy.

Who is the new Chief Human Resources Officer at Ardelyx?

James P. Brady has joined the company as the Chief Human Resources Officer.

What previous experience does James P. Brady have?

He previously served as Chief Human Resources Officer at Spero Therapeutics and has extensive HR experience in life sciences.

What are Ardelyx's main products?

Ardelyx has two commercial products approved in the U.S.: IBSRELA® and XPHOZAH®.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$ARDX Insider Trading Activity

$ARDX insiders have traded $ARDX stock on the open market 21 times in the past 6 months. Of those trades, 5 have been purchases and 16 have been sales.

Here’s a breakdown of recent trading of $ARDX stock by insiders over the last 6 months:

DAVID M MOTT has made 5 purchases buying 971,406 shares for an estimated $4,318,046 and 0 sales.
MICHAEL RAAB (President & CEO) has made 0 purchases and 8 sales selling 303,113 shares for an estimated $1,488,004.
MIKE KELLIHER (See Remarks) sold 14,522 shares for an estimated $59,270
JUSTIN A RENZ (Chief Financial Officer) has made 0 purchases and 2 sales selling 12,389 shares for an estimated $58,536.
LAURA A WILLIAMS (Chief Medical Officer) has made 0 purchases and 2 sales selling 11,362 shares for an estimated $53,989.
ELIZABETH A GRAMMER (See Remarks) has made 0 purchases and 2 sales selling 10,283 shares for an estimated $48,584.
ERIC DUANE FOSTER (Chief Commercial Officer) sold 2,507 shares for an estimated $10,232

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$ARDX Hedge Fund Activity

We have seen 127 institutional investors add shares of $ARDX stock to their portfolio, and 117 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

MARSHALL WACE, LLP added 8,268,990 shares (+7201.8%) to their portfolio in Q1 2025, for an estimated $40,600,740
EVENTIDE ASSET MANAGEMENT, LLC removed 5,600,764 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $27,499,751
MILLENNIUM MANAGEMENT LLC added 3,501,782 shares (+118.2%) to their portfolio in Q1 2025, for an estimated $17,193,749
RUBRIC CAPITAL MANAGEMENT LP removed 1,706,485 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $8,378,841
REDMILE GROUP, LLC removed 1,576,259 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $7,739,431
JONES FINANCIAL COMPANIES LLLP removed 1,441,309 shares (-99.3%) from their portfolio in Q1 2025, for an estimated $7,076,827
STATE STREET CORP removed 1,416,395 shares (-12.2%) from their portfolio in Q1 2025, for an estimated $6,954,499

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$ARDX Analyst Ratings

Wall Street analysts have issued reports on $ARDX in the last several months. We have seen 3 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Scotiabank issued a "Outperform" rating on 03/07/2025
BTIG issued a "Buy" rating on 03/04/2025
Jefferies issued a "Buy" rating on 01/02/2025

To track analyst ratings and price targets for $ARDX, check out Quiver Quantitative's $ARDX forecast page.

$ARDX Price Targets

Multiple analysts have issued price targets for $ARDX recently. We have seen 2 analysts offer price targets for $ARDX in the last 6 months, with a median target of $11.0.

Here are some recent targets:

An analyst from BTIG set a target price of $14.0 on 03/04/2025
Dennis Ding from Jefferies set a target price of $8.0 on 01/02/2025

Full Release

WALTHAM, Mass., June 02, 2025 (GLOBE NEWSWIRE) -- Ardelyx, Inc. (Nasdaq: ARDX), a biopharmaceutical company founded with a mission to discover, develop and commercialize innovative, first-in-class medicines that meet significant unmet medical needs, today announced that Mike Kelliher, formerly Executive Vice President, Corporate Development and Strategy, has been promoted to Chief Business Officer, and James P. Brady has joined the company as Chief Human Resources Officer.

Since joining Ardelyx in March 2024, Mr. Kelliher has established himself as important leader driving Ardelyx’s long-term growth and value creation strategies. In his newly expanded role as Chief Business Officer, Mr. Kelliher will be responsible for lifecycle and portfolio management, in addition to his previous responsibilities for business development and corporate strategy.

Mr. Brady is a purpose-driven human resources executive with a proven track record of building organizations, leaders and teams in transformational life science and digital innovation technologies. Mr. Brady will be responsible for HR strategy and processes related to building and retaining a high performing team that can effectively support Ardelyx’s continued growth.

“As we continue to grow and evolve our business, it is imperative that we have high caliber leaders, like Mike and Jamie, who will enable us to accelerate our momentum and deliver long-term impact for patients and shareholders,” said Mike Raab, Ardelyx president and chief executive officer. “Mike’s experiences, business intuition and leadership have brought incredible value to Ardelyx since his joining, and I am pleased to appoint him to this new role to expand his influence and responsibility. In addition, I’m incredibly excited to welcome Jamie to Ardelyx. A highly talented human resources executive, Jamie brings extensive experience in all aspects of people development and will be an influential part of advancing key business initiatives and talent strategies that align with our mission and objectives.”

Prior to joining Ardelyx, Mr. Kelliher served as Group Vice President, M&A and Business Development, at Horizon Therapeutics. Mr. Kelliher joined Horizon in 2014 and held roles of increasing responsibility on the team that led a successful growth and expansion agenda through acquisitions, development collaborations and other transactions, including the acquisition of Horizon by Amgen. Before his time at Horizon, from 2009 to 2014, Mr. Kelliher held financial roles at Elan Corporation (now Perrigo Company) and began his career in banking, public accounting and corporate finance. Mr. Kelliher currently serves on the board of directors of Capricor Therapeutics. Mr. Kelliher earned a Bachelor of Commerce from the University College Cork (Ireland) and is an Associated Chartered Accountant.

Mr. Brady has extensive human resources and organizational and talent development experience. Most recently, Mr. Brady served as Chief Human Resources Officer at Spero Therapeutics. While at Spero, Mr. Brady oversaw all aspects of the human resources function and was instrumental in implementing the company’s hybrid work model and earning the company a Best Places to Work recognition by the Boston Business Journal . Prior to Spero, Mr. Brady held the role of Chief Human Resources Officer at uniQure, as well as roles of increasing responsibility at Intarcia Therapeutics, Genzyme Corporation, and Thomson Financial. Mr. Brady earned a Bachelor of Arts in history from Marietta College and a Master of Theological Studies from Harvard University.

About Ardelyx
Ardelyx was founded with a mission to discover, develop and commercialize innovative, first-in-class medicines that meet significant unmet medical needs. Ardelyx has two commercial products approved in the United States, IBSRELA ^® (tenapanor) and XPHOZAH ^® (tenapanor). Ardelyx has agreements for the development and commercialization of tenapanor outside of the U.S. Kyowa Kirin commercializes PHOZEVEL ^® (tenapanor) for hyperphosphatemia in Japan. A New Drug Application for tenapanor for hyperphosphatemia has been approved in China with Fosun Pharma. Knight Therapeutics commercializes IBSRELA in Canada. For more information, please visit https://ardelyx.com/ and connect with us on X (formerly known as Twitter) , LinkedIn and Facebook .

Investor and Media Contacts:
Caitlin Lowie
[email protected]