OTHER INFORMATION
−Removed: Entry into a Material Definitive Agreement
−Removed: On April 28, 2026, Ardelyx, Inc.
−Removed: (the Company) entered into a Sixth Amendment (the Sixth Amendment) to the Loan and Security Agreement, originally dated February 23, 2022, by and among the Company, as borrower, SLR Investment Corp.
−Removed: (SLR), as collateral agent and the lenders party thereto (as later amended, amended and restated, supplemented or otherwise modified from time to time).
−Removed: Pursuant to the Sixth Amendment, among other things, (i) a portion of $200.0 million in outstanding principal previously allocated among the outstanding Term A through C Loans (collectively, the Revised Loans) was refinanced with a new Term H Loan;
−Removed: (ii) the maturity date for the Revised Loans has been extended from July 1, 2028 to July 1, 2030 (the New Maturity Date), which is the maturity date applicable for each other term loan;
−Removed: (iii) the interest-only payment period for the Revised Loans has been extended until the New Maturity Date;
−Removed: (iv) the interest rates for the Revised Loans, the Term H Loan, and the Term F and Term G Loans will have a collectively reduced interest rate, at the sum of 4.55% plus the greater of (a) the 1-month SOFR reference rate or (b) 3.5%;
−Removed: (v) the Company will retain the option to draw the Term F and Term G Loans, each in the amount of $50.0 million, at the Company’s election by June 30, 2026 and December 20, 2026, respectively;
−Removed: and (vi) certain negative covenants and other conditions were amended to provide additional flexibility to the Company.
−Removed: On the closing date of the Sixth Amendment, the Company paid approximately $1.9 million in final fees and prepayment fees in connection with the partial paydown of the Term A through C Loans.
−Removed: The Company is obligated to pay a final fee with respect to each of the outstanding amounts under each of the term loans, upon the earliest to occur of (i) the New Maturity Date, (ii) the acceleration of the applicable term loan or (iii) the prepayment, refinancing, substitution or replacement of the applicable term loan.
−Removed: This final fee is 4.95% for the Term A through E loans, 3.45% for the Term F and Term G Loans and 2.50% for the new Term H Loan.
−Removed: The above summary of the material terms of the Sixth Amendment does not purport to be complete and is qualified in its entirety by reference to the Sixth Amendment, a copy of which is filed as Exhibit 10.3 to this Quarterly Report on Form 10-Q and incorporated by reference herein.
Trading Plans
−Removed: During the three months ended March 31, 2026, our Section 16 officers and directors adopted or terminated contracts, instructions or written plans for the purchase or sale of our securities as noted below.
−Removed: Name and Title of Director or Officer Action Date Trading Arrangement Total Shares Available to be Sold Expiration Date
−Removed: Rule 10b5-1* Non-Rule 10b5-1**
−Removed: Laura Williams , Chief Patient Officer
−Removed: March 19, 2026 X 298,382 March 15, 2027
−Removed: * Intended to satisfy the affirmative defense conditions of Rule 10b5-1(c)
−Removed: ** Not intended to satisfy the affirmative defense conditions of Rule 10b5-1(c)
+Added: During the three months ended June 30, 2026, no Section 16 officer or director adopted or terminated any contracts, instructions or written plans for the purchase or sale of our securities.
+Added: Table of Content s
Incorporated by Reference Filed
6 unchanged sentences
8-K 08/04/2025 3.1
+Added: 10.1† First Amendment to the Commercial Supply Agreement, dated May 11, 2026, by and between the Company and Catalent Pharma Solutions, LLC.
+Added: 10.2† Second Amendment to the Manufacturing Services Agreement, dated May 15, 2026, by and between the Company and Patheon Pharmaceuticals Inc.
+Added: 10.3# Second Amendment to the Ardelyx, Inc.
+Added: Amended and Restated 2014 Equity Incentive Award Plan.
+Added: 8-K 06/17/2026 10.1
31.1 Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
1 unchanged sentence
32.1* Certification of Chief Executive Officer and Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
−Removed: Offer Letter, dated February 18, 2026, by and between Ardelyx, Inc.
−Removed: and Felecia Ettenberg.
−Removed: Offer Letter, date d March 2 , 2026 , b y and between Ardelyx, Inc.
−Removed: and Rajani Dinavahi , M .D .
−Removed: 10.3 Sixth Amendment to Loan and Security Agreement, dated April 28 , 202 6 , by and among the Company, SLR Investment Corp., as collateral agent, and the lenders party thereto .
101 The following financial statements, formatted in Inline Extensible Business Reporting Language (XBRL):
−Removed: (i) Condensed Balance Sheets as of March 31, 2026 and December 31, 2025, (ii) Condensed Statements of Operations and Comprehensive Loss for the three months ended March 31, 2026 and 2025, (iii) Condensed Statements of Changes in Stockholders’ Equity for the three months ended March 31, 2026 and 2025, (iv) Condensed Statements of Cash Flows for the three months ended March 31, 2026 and 2025, and (v) Notes to Unaudited Condensed Financial Statements.
+Added: (i) Condensed Balance Sheets as of June 30, 2026 and December 31, 2025, (ii) Condensed Statements of Operations and Comprehensive Loss for the three and six months ended June 30, 2026 and 2025, (iii) Condensed Statements of Changes in Stockholders’ Equity for the three and six months ended June 30, 2026 and 2025, (iv) Condensed Statements of Cash Flows for the six months ended June 30, 2026 and 2025, and (v) Notes to Unaudited Condensed Financial Statements.
104 Cover Page Interactive Data File, formatted in Inline XBRL and contained in Exhibit 101.
_______________________________
+Added: † Certain portions of this exhibit have been redacted pursuant to Item 601(b)(10) of Regulation S-K.
+Added: A copy of the omitted portions will be furnished supplementally to the SEC upon request.
# Indicates management contract or compensatory plan.
1 unchanged sentence
under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date of this Quarterly Report on Form 10-Q, irrespective of any general incorporation language contained in such filing.
+Added: Table of Content s
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Ardelyx, Inc.
−Removed: April 30, 2026 By:
+Added: August 6, 2026 By:
/s/ Joseph Reilly
2 unchanged sentences
(Principal Accounting Officer)
+Added: Table of Content s
SUMMARY OF ABBREVIATED TERMS
7 unchanged sentences
AI Technologies
−Removed: Artificial intelligence, machine learning and certain automated decision-making technologies
−Removed: HRSA Health Resources and Services Administration
+Added: Artificial intelligence (AI), machine learning, and automated decision-making technologies, (collectively, AI Technologies) HRSA Health Resources and Services Administration
AMP average manufacturer price IBS-C irritable bowel syndrome with constipation
39 unchanged sentences
TDAPA Transitional Drug Add-on Payment Adjustment
−Removed: GCP Good Clinical Practice UPC European Unified Patent Court
+Added: GCP Good Clinical Practice UPC Unified Patent Court
GDPR European Union General Data Protection Regulation U.S.
5 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.