Ardelyx Inc (ARDX)

[Whalatane]

I'm buying down 27%
I had sold ARDX on approval and then the stock continued to ramp ...so have been out of it for some time .
I didn't like how they priced Xphazoh for dialysis patients ...they are charging a premium for the same drug used by IBSC patients ( Tenanapour )
Currently the monthly retail price is close to $3,000 a month for dialysis patients .
As a tier 5 formulary drug the co pay can be as high as a third of the retail price for Medicare patients who can't use the Co's coupon.

So the question is ..... if Xphazoh is not covered by Medicare ......will these patients be able to use the X coupon and effectively be able to buy X at a lower price.
Medicare patients can't use Co's coupons .

The legislation to keep X out of the dialysis bundle has a good chance of passing ....so should make it easier to prescribe .

The other question is if more patients can now use the X coupon ...will ARDX make any $ as the coupon has to be a large enough discount to reduce copay lower then what Medicare patients would be paying .

Small spec buy on my part
Info only. NOT investment advice
Kiwi