<SEC-DOCUMENT>0001144204-17-009135.txt : 20170222
<SEC-HEADER>0001144204-17-009135.hdr.sgml : 20170222
<ACCEPTANCE-DATETIME>20170214191828
ACCESSION NUMBER:		0001144204-17-009135
CONFORMED SUBMISSION TYPE:	SC 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20170214
DATE AS OF CHANGE:		20170221
GROUP MEMBERS:		PETER KOLCHINSKY
GROUP MEMBERS:		RA CAPITAL HEALTHCARE FUND, L.P.

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ARDELYX, INC.
		CENTRAL INDEX KEY:			0001437402
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-88209
		FILM NUMBER:		17612265

	BUSINESS ADDRESS:	
		STREET 1:		34175 ARDENWOOD BLVD.
		CITY:			FREMONT
		STATE:			CA
		ZIP:			94555
		BUSINESS PHONE:		510-745-7047

	MAIL ADDRESS:	
		STREET 1:		34175 ARDENWOOD BLVD.
		CITY:			FREMONT
		STATE:			CA
		ZIP:			94555

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NTERYX INC
		DATE OF NAME CHANGE:	20080611

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RA CAPITAL MANAGEMENT, LLC
		CENTRAL INDEX KEY:			0001346824
		IRS NUMBER:				830406777
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		20 PARK PLAZA, SUITE 1200
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116
		BUSINESS PHONE:		617-778-2500

	MAIL ADDRESS:	
		STREET 1:		20 PARK PLAZA, SUITE 1200
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G/A
<SEQUENCE>1
<FILENAME>v459261_sc13ga.htm
<DESCRIPTION>SC 13G/A
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">UNITED STATES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SCHEDULE 13G</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Under the Securities Exchange Act of
1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Amendment No. 1)*</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">ARDELYX, INC.</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 2pt; margin-bottom: 2pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Name of Issuer)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Common Stock,
par value $0.0001 per share</B></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 2pt; margin-bottom: 2pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Title of Class of
Securities)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>039697107&nbsp;</B></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 2pt; margin-bottom: 2pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(CUSIP Number)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>December 31, 2016</B></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 2pt; margin-bottom: 2pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Date of Event Which
Requires Filing of this Statement)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="width: 90%">Rule 13d-1(b)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT></TD>
    <TD>Rule 13d-1(c)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD>Rule 13d-1(d)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">*The remainder of this cover page shall
be filled out for a reporting person&rsquo;s initial filing on this form with respect to the subject class of securities, and for
any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The information required in the remainder
of this cover page shall not be deemed to be &ldquo;filed&rdquo; for the purpose of Section 18 of the Securities Exchange Act of
1934 (&ldquo;<B><I>Act</I></B>&rdquo;) or otherwise subject to the liabilities of that section of the Act but shall be subject
to all other provisions of the Act (however, see the Notes).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%"><FONT STYLE="font-size: 10pt">CUSIP No. </FONT><B>039697107</B></TD>
    <TD STYLE="width: 40%; text-align: center"><FONT STYLE="font-size: 12pt"><B>13G</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt; border-top: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Names of Reporting Persons.<BR>
        I.R.S. Identification Nos. of above persons (entities only).&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RA
        Capital Management, LLC</B></P></TD></TR>
<TR>
    <TD STYLE="padding: 5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Check the Appropriate Box if a Member of a Group (See Instructions)</FONT></TD></TR>
<TR>
    <TD STYLE="width: 3%; padding-right: 5pt; padding-left: 5pt; padding-top: 3pt">&nbsp;</TD>
    <TD STYLE="width: 5%; padding-right: 5pt; padding-left: 5pt; padding-top: 3pt">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: 5pt; padding-left: 5pt; padding-top: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT></TD>
    <TD STYLE="width: 89%; padding-right: 5pt; padding-left: 5pt; text-align: left; vertical-align: top; padding-top: 3pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5pt; padding-left: 5pt; padding-top: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; padding-left: 5pt; padding-top: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt; padding-left: 5pt; padding-top: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT></TD>
    <TD STYLE="padding-right: 5pt; padding-left: 5pt; text-align: left; vertical-align: top; padding-top: 3pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt; padding-left: 5pt; text-align: left; vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SEC Use Only</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Citizenship or Place of Organization&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Massachusetts</B></FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD ROWSPAN="7" STYLE="width: 18%; padding-right: 5pt; padding-left: 5pt"><FONT STYLE="font-size: 10pt">Number of</FONT><BR>
<FONT STYLE="font-size: 10pt">Shares</FONT><BR>
<FONT STYLE="font-size: 10pt">Beneficially</FONT><BR>
<FONT STYLE="font-size: 10pt">Owned by</FONT><BR>
<FONT STYLE="font-size: 10pt">Each Reporting</FONT><BR>
<FONT STYLE="font-size: 10pt">Person With</FONT></TD>
    <TD STYLE="width: 5%; padding-right: 5pt; padding-top: 5pt"><FONT STYLE="font-size: 10pt">5.</FONT></TD>
    <TD STYLE="width: 77%; padding-right: 5pt; padding-top: 5pt"><FONT STYLE="font-size: 10pt">Sole Voting Power&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>0 shares</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 5pt; padding-top: 5pt"><FONT STYLE="font-size: 10pt">6.</FONT></TD>
    <TD STYLE="padding-right: 5pt; padding-top: 5pt"><FONT STYLE="font-size: 10pt">Shared Voting Power&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>2,103,530 shares</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 5pt; padding-top: 5pt"><FONT STYLE="font-size: 10pt">7.</FONT></TD>
    <TD STYLE="padding-right: 5pt; padding-top: 5pt"><FONT STYLE="font-size: 10pt">Sole Dispositive Power&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>0 shares</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 5pt; padding-top: 5pt"><FONT STYLE="font-size: 10pt">8.</FONT></TD>
    <TD STYLE="padding-right: 5pt; padding-top: 5pt"><FONT STYLE="font-size: 10pt">Shared Dispositive Power&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>2,103,530 shares</B></FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="width: 4%; border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt; border-top: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 5%; border-bottom: Black 1pt solid; padding: 3pt 5pt 10pt; border-top: Black 1pt solid; text-align: left; vertical-align: top"><FONT STYLE="font-size: 10pt">9.</FONT></TD>
    <TD STYLE="width: 91%; border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt; border-top: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Aggregate Amount Beneficially Owned by Each Reporting
Person</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,103,530 shares</B></P></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5pt 10pt; text-align: left; vertical-align: top"><FONT STYLE="font-size: 10pt">10.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check if the Aggregate Amount in Row (9) Excludes Certain
        Shares (See
        Instructions)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5pt 10pt; text-align: left; vertical-align: top"><FONT STYLE="font-size: 10pt">11.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Percent of Class Represented by Amount in Row (9)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4%<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>1</SUP></FONT></B></P></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5pt 10pt; text-align: left; vertical-align: top"><FONT STYLE="font-size: 10pt">12.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Type of Reporting Person (See Instructions)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>IA</B></P></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>1</SUP> The reporting person is the beneficial owner
of 1,935,305 shares of Common Stock, as well as warrants to acquire 168,225 shares of Common Stock, which together would constitute
approximately 4.4% of the issuer&rsquo;s Common Stock if the warrants were exercised in full, following the issuance of 168,225
shares of Common Stock in respect of the fully-exercised warrants. The percentage calculation assumes that there are currently
47,301,894 outstanding shares of the Issuer, based on the Issuer&rsquo;s 10-Q as filed with the Securities and Exchange Commission
(&ldquo;SEC&rdquo;) on November 7, 2016.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%"><FONT STYLE="font-size: 10pt">CUSIP No. </FONT><B>039697107</B></TD>
    <TD STYLE="width: 40%; text-align: center"><FONT STYLE="font-size: 12pt"><B>13G</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt; border-top: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Names of Reporting Persons.<BR>
        I.R.S. Identification Nos. of above persons (entities only).&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Peter
        Kolchinsky</B></P></TD></TR>
<TR>
    <TD STYLE="padding: 5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Check the Appropriate Box if a Member of a Group (See Instructions)</FONT></TD></TR>
<TR>
    <TD STYLE="width: 3%; padding-top: 3pt; padding-right: 5pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="width: 5%; padding-top: 3pt; padding-right: 5pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-top: 3pt; padding-right: 5pt; padding-left: 5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)</FONT></TD>
    <TD STYLE="width: 89%; padding-top: 3pt; padding-right: 5pt; padding-left: 5pt"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 3pt; padding-right: 5pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-top: 3pt; padding-right: 5pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-top: 3pt; padding-right: 5pt; padding-left: 5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)</FONT></TD>
    <TD STYLE="padding-top: 3pt; padding-right: 5pt; padding-left: 5pt"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt; padding-left: 5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt; padding-left: 5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt; padding-left: 5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt; padding-left: 5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">SEC Use Only</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Citizenship
    or Place of Organization&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>United States</B></FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD ROWSPAN="7" STYLE="width: 18%; padding-right: 5pt; padding-left: 5pt"><FONT STYLE="font-size: 10pt">Number of</FONT><BR>
<FONT STYLE="font-size: 10pt">Shares</FONT><BR>
<FONT STYLE="font-size: 10pt">Beneficially</FONT><BR>
<FONT STYLE="font-size: 10pt">Owned by</FONT><BR>
<FONT STYLE="font-size: 10pt">Each Reporting</FONT><BR>
<FONT STYLE="font-size: 10pt">Person With</FONT></TD>
    <TD STYLE="width: 5%; padding-right: 5pt; padding-top: 5pt"><FONT STYLE="font-size: 10pt">5.</FONT></TD>
    <TD STYLE="width: 77%; padding-right: 5pt; padding-top: 5pt"><FONT STYLE="font-size: 10pt">Sole Voting Power&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>0 shares</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 5pt; padding-top: 5pt"><FONT STYLE="font-size: 10pt">6.</FONT></TD>
    <TD STYLE="padding-right: 5pt; padding-top: 5pt"><FONT STYLE="font-size: 10pt">Shared Voting Power&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>2,103,530 shares</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 5pt; padding-top: 5pt"><FONT STYLE="font-size: 10pt">7.</FONT></TD>
    <TD STYLE="padding-right: 5pt; padding-top: 5pt"><FONT STYLE="font-size: 10pt">Sole Dispositive Power&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>0 shares</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 5pt; padding-top: 5pt"><FONT STYLE="font-size: 10pt">8.</FONT></TD>
    <TD STYLE="padding-right: 5pt; padding-top: 5pt"><FONT STYLE="font-size: 10pt">Shared Dispositive Power&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>2,103,530 shares</B></FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="width: 4%; border-bottom: Black 1pt solid; border-top: Black 1pt solid; padding-right: 5pt; padding-bottom: 10pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="width: 5%; border-bottom: Black 1pt solid; padding: 3pt 5pt 10pt; border-top: Black 1pt solid; text-align: left; vertical-align: top"><FONT STYLE="font-size: 10pt">9.</FONT></TD>
    <TD STYLE="width: 91%; border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt; border-top: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Aggregate Amount Beneficially Owned by Each Reporting Person</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,103,530 shares</B></P></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt; padding-bottom: 10pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5pt 10pt; text-align: left; vertical-align: top"><FONT STYLE="font-size: 10pt">10.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check if the Aggregate Amount in Row (9) Excludes Certain
        Shares (See
        Instructions)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt; padding-bottom: 10pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5pt 10pt; text-align: left; vertical-align: top"><FONT STYLE="font-size: 10pt">11.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Percent of Class Represented by Amount in Row (9)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4%<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>1</SUP></FONT></B></P></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt; padding-bottom: 10pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5pt 10pt; text-align: left; vertical-align: top"><FONT STYLE="font-size: 10pt">12.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Type of Reporting Person (See Instructions)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>IN</B></P></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>1</SUP> The reporting person is the beneficial owner
of 1,935,305 shares of Common Stock, as well as warrants to acquire 168,225 shares of Common Stock, which together would constitute
approximately 4.4% of the issuer&rsquo;s Common Stock if the warrants were exercised in full, following the issuance of 168,225
shares of Common Stock in respect of the fully-exercised warrants. The percentage calculation assumes that there are currently
47,301,894 outstanding shares of the Issuer, based on the Issuer&rsquo;s 10-Q as filed with the Securities and Exchange Commission
(&ldquo;SEC&rdquo;) on November 7, 2016.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%"><FONT STYLE="font-size: 10pt">CUSIP No. </FONT><B>039697107</B></TD>
    <TD STYLE="width: 40%; text-align: center"><FONT STYLE="font-size: 12pt"><B>13G</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt; border-top: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Names of Reporting Persons.<BR>
        I.R.S. Identification Nos. of above persons (entities only).&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RA
Capital Healthcare Fund, L.P.</B>&nbsp;</P></TD></TR>
<TR>
    <TD STYLE="padding: 5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Check the Appropriate Box if a Member of a Group (See Instructions)</FONT></TD></TR>
<TR>
    <TD STYLE="width: 3%; padding-top: 3pt; padding-right: 5pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="width: 5%; padding-top: 3pt; padding-right: 5pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-top: 3pt; padding-right: 5pt; padding-left: 5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)</FONT></TD>
    <TD STYLE="width: 89%; padding-top: 3pt; padding-right: 5pt; padding-left: 5pt"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 3pt; padding-right: 5pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-top: 3pt; padding-right: 5pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-top: 3pt; padding-right: 5pt; padding-left: 5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)</FONT></TD>
    <TD STYLE="padding-top: 3pt; padding-right: 5pt; padding-left: 5pt"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt; padding-left: 5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">SEC Use Only</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Citizenship or Place of Organization&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Delaware</B></FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD ROWSPAN="7" STYLE="width: 18%; padding-right: 5pt; padding-left: 5pt"><FONT STYLE="font-size: 10pt">Number of</FONT><BR>
<FONT STYLE="font-size: 10pt">Shares</FONT><BR>
<FONT STYLE="font-size: 10pt">Beneficially</FONT><BR>
<FONT STYLE="font-size: 10pt">Owned by</FONT><BR>
<FONT STYLE="font-size: 10pt">Each Reporting</FONT><BR>
<FONT STYLE="font-size: 10pt">Person With</FONT></TD>
    <TD STYLE="width: 5%; padding-top: 5pt; padding-right: 5pt"><FONT STYLE="font-size: 10pt">5.</FONT></TD>
    <TD STYLE="width: 77%; padding-top: 5pt; padding-right: 5pt"><FONT STYLE="font-size: 10pt">Sole Voting Power&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>0 shares</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-top: 5pt; padding-right: 5pt"><FONT STYLE="font-size: 10pt">6.</FONT></TD>
    <TD STYLE="padding-top: 5pt; padding-right: 5pt"><FONT STYLE="font-size: 10pt">Shared Voting Power&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>1,397,074 shares</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-top: 5pt; padding-right: 5pt"><FONT STYLE="font-size: 10pt">7.</FONT></TD>
    <TD STYLE="padding-top: 5pt; padding-right: 5pt"><FONT STYLE="font-size: 10pt">Sole Dispositive Power&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>0 shares</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-top: 5pt; padding-right: 5pt"><FONT STYLE="font-size: 10pt">8.</FONT></TD>
    <TD STYLE="padding-top: 5pt; padding-right: 5pt"><FONT STYLE="font-size: 10pt">Shared Dispositive Power&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>1,397,074 shares</B></FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="width: 4%; border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt; border-top: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 5%; border-bottom: Black 1pt solid; padding: 3pt 5pt 10pt; border-top: Black 1pt solid; text-align: left; vertical-align: top"><FONT STYLE="font-size: 10pt">9.</FONT></TD>
    <TD STYLE="width: 91%; border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt; border-top: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Aggregate Amount Beneficially Owned by Each Reporting Person</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,397,074 shares</B></P></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5pt 10pt; text-align: left; vertical-align: top"><FONT STYLE="font-size: 10pt">10.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check if the Aggregate Amount in Row (9) Excludes Certain
        Shares (See
        Instructions)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5pt 10pt; text-align: left; vertical-align: top"><FONT STYLE="font-size: 10pt">11.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Percent of Class Represented by Amount in Row (9)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>2.9%<SUP>2</SUP></B></P></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 3pt 5pt 10pt; text-align: left; vertical-align: top"><FONT STYLE="font-size: 10pt">12.</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 5pt 5pt 10pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Type of Reporting Person (See Instructions)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PN (Limited
        Partnership)</B></P></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%"></DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><SUP>2</SUP> </B>The reporting person is the beneficial owner
of 1,397,074 shares of Common Stock, as well as warrants to acquire 137,944 shares of Common Stock, which together would constitute
approximately 2.9% of the issuer&rsquo;s Common Stock if the warrants were exercised in full, following the issuance of 137,944
shares of Common Stock in respect of the fully-exercised warrants. The percentage calculation assumes that there are currently
47,301,894 outstanding shares of the Issuer, based on the Issuer&rsquo;s 10-Q as filed with the Securities and Exchange Commission
(&ldquo;SEC&rdquo;) on November 7, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%"><FONT STYLE="font-size: 10pt">CUSIP No. </FONT><B>039697107</B></TD>
    <TD STYLE="width: 40%; text-align: center"><FONT STYLE="font-size: 12pt"><B>13G</B></FONT></TD>
</TR>
</TABLE>
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Item 1.</B></TD><TD STYLE="text-align: justify"></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Name of Issuer:</B> ARDELYX, INC.
(the &ldquo;Issuer&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&nbsp;&nbsp;&nbsp;&nbsp;Address of the Issuer&rsquo;s Principal Executive Offices:
</B>34175 Ardenwood Blvd., Suite 200, Fremont, CA 94555.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Item 2.</B></TD><TD STYLE="text-align: justify"></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&nbsp;&nbsp;&nbsp;Name of Person
Filing: </B> This joint statement on Schedule 13G is being filed by RA Capital Management, LLC (&ldquo;Capital&rdquo;), Peter Kolchinsky
and RA Capital Healthcare Fund, L.P. (the &ldquo;Fund&rdquo;). Capital, Mr. Kolchinsky and the Fund are collectively referred to
herein as the &ldquo;Reporting Persons.&rdquo; Capital is the general partner of the Fund and serves as investment adviser for
a separately managed account (the &ldquo;Account&rdquo;). Mr. Kolchinsky is the manager of Capital. As the investment adviser to
the Fund and the Account, Capital may be deemed a beneficial owner, for purposes of Section 13(d) of the Securities Exchange Act
of 1934 (the &ldquo;Act&rdquo;), of any securities of the Issuer owned by the Fund or the Account. As the manager of Capital, Mr.
Kolchinsky may be deemed a beneficial owner, for purposes of Section 13(d) of the Act, of any securities of the Issuer beneficially
owned by Capital. Capital is a registered investment adviser within the meaning of Rule 13d-1(b)(1)(ii)(E) and Rule 16a-1(a)(v),
and Mr. Kolchinsky is a parent or control person of Capital within the meaning of Rule 13d-1(b)(1)(ii)(G) and Rule 16a-1(a)(1)(vii).
Capital and Mr. Kolchinsky disclaim beneficial ownership of the securities reported in this Schedule 13G Statement (the &ldquo;Statement&rdquo;)
other than for the purpose of determining their obligations under Section 13(d) of the Act, and the filing of the Statement shall
not be deemed an admission that either Capital or Mr. Kolchinsky is or was the beneficial owner of such securities for any other
purpose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&nbsp;&nbsp;&nbsp;Address of
Principal Business Office:</B> The principal business office of the Reporting Persons is c/o RA Capital Management, LLC, 20 Park
Plaza, Suite 1200, Boston, MA 02116.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Citizenship:
</B>Capital is a Massachusetts limited liability company. The Fund is a Delaware limited partnership. Mr. Kolchinsky is a United
States citizen.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Title
and Class of Securities: </B>Common stock (&ldquo;Common Stock&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&nbsp;&nbsp;&nbsp;CUSIP
Number: </B>039697107</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Item 3.</B></TD><TD STYLE="text-align: justify"><B>If
                                         this statement is filed pursuant to &sect;&sect;240.13d-1(b) or 240.13d-2(b) or (c),
                                         check whether the person filing is a:</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%"><FONT STYLE="font-size: 10pt">CUSIP No. </FONT><B>039697107</B></TD>
    <TD STYLE="width: 40%; text-align: center"><FONT STYLE="font-size: 12pt"><B>13G</B></FONT></TD>
</TR>
</TABLE>
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Item 4.</B></TD><TD STYLE="text-align: justify"><B>Ownership:</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Provide the following information regarding
the aggregate number and percentage of the class of securities of the issuer identified in Item 1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>(a)</TD>
    <TD COLSPAN="2">Amount Beneficially Owned:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">See the response(s) to Item 9 on the attached cover page(s).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>(b)</TD>
    <TD COLSPAN="2">Percent of Class:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">See the response(s) to Item 11 on the attached cover page(s).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>(c)</TD>
    <TD COLSPAN="2">Number of shares as to which such person has:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.5in">(i)</TD>
    <TD>sole power to vote or to direct the vote: </TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>See the response(s) to Item 5 on the attached cover page(s).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD>(ii)</TD>
    <TD>shared power to vote or to direct the vote</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>See the response(s) to Item 6 on the attached cover page(s).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD>(iii)</TD>
    <TD>sole power to dispose or to direct the disposition of</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>See the response(s) to Item 7 on the attached cover page(s).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD>(iv)</TD>
    <TD>shared power to dispose or to direct the disposition of</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>See the response(s) to Item 8 on the attached cover page(s).</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Item 5.</B></TD><TD STYLE="text-align: justify"><B>Ownership
                                         of Five Percent or Less of a Class:</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If this statement is being filed to report the fact that as
of the date hereof the Reporting Person has ceased to be the beneficial owner of more than five percent of the class of securities,
check the following <FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Item 6.</B></TD><TD STYLE="text-align: justify"><B>Ownership
                                         of More than Five Percent on Behalf of Another Person:</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Item 7.</B></TD><TD STYLE="text-align: justify"><B>Identification
                                         and Classification of the Subsidiary Which Acquired the Security Being Reported on By
                                         the Parent Holding Company or Control Person:</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 6 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%"><FONT STYLE="font-size: 10pt">CUSIP No. </FONT><B>039697107</B></TD>
    <TD STYLE="width: 40%; text-align: center"><FONT STYLE="font-size: 12pt"><B>13G</B></FONT></TD>
</TR>
</TABLE>
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Item 8.</B></TD><TD STYLE="text-align: justify"><B>Identification
                                         and Classification of Members of the Group:</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Item 9.</B></TD><TD STYLE="text-align: justify"><B>Notice
                                         of Dissolution of Group:</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Item 10.</B></TD><TD STYLE="text-align: justify"><B>Certification:</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">By signing below I hereby certify that,
to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of
or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held
in connection with or as a participant in any transaction having that purpose or effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Exhibits</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">1</TD><TD STYLE="text-align: left">Joint Filing Agreement by and among the Reporting Persons
is incorporated herein by reference to Exhibit 1 to the Schedule 13G filed by the Reporting Persons with the Securities and Exchange
Commission on July 28, 2016.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 7 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">After reasonable inquiry
and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%"><FONT STYLE="text-transform: uppercase">Date: F</FONT>ebruary 14<FONT STYLE="text-transform: uppercase">, 2017</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>RA CAPITAL MANAGEMENT, LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">By: /s/ Rajeev Shah</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Rajeev Shah</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Authorized Signatory</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>PETER KOLCHINSKY</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Peter Kolchinsky</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>RA CAPITAL HEALTHCARE FUND, L.P.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By: RA Capital Management, LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Its: General Partner</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">By: /s/ Rajeev Shah</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Rajeev Shah</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Authorized Signatory</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 8; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
