Diligence memo · auto-generated · as of July 2, 2026
Ardelyx, Inc.
Ardelyx, Inc. looks fair against its niche peers and is dormant on financing cadence.
Businessfiled
Ardelyx, Inc. operates in Pharmaceuticals, based in FREMONT.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Ardelyx, Inc. has raised $210M in disclosed capital across 4 recorded rounds, aggregated from public filings. Its latest round is modeled as Series D+ (a $100M–$400M round).
Largest single filing: $110M on 2016-07-18.
Most recent recorded round closed around 2016-07-18.
Valuation (modeled)modeled
Provath models Ardelyx, Inc. at approximately $3.9B (range $524M–$8.5B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Fair. Modeled value is 0.88× the median modeled value of Series D+ Pharmaceuticals companies in 2016–2018 (11 peers) — value vs value, same stage and era. Within the normal band (88% of peer median) for its niche.
Financing rhythm & timingmixed
Historic cadence: a new round about every 23 months.
Last raise 10.0 yr ago; this sector typically re-raises about every 13 months.
Silent for over 3× the sector's normal cadence.
The last round stepped up 1.4× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 97% of Pharmaceuticals peers (1613 compared).
Modeled value ranks above 98% of those peers.
Closest niche peers: Concordia International Corp., Surterra Holdings, Inc./DE, Ironwood Pharmaceuticals Inc, Melinta Therapeutics, Inc. /New/, Beam Therapeutics Inc..
Peoplefiled
24 named people on file across officers, directors and signatories.
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.