<SEC-DOCUMENT>0001104659-23-067848.txt : 20230605
<SEC-HEADER>0001104659-23-067848.hdr.sgml : 20230605
<ACCEPTANCE-DATETIME>20230605075514
ACCESSION NUMBER:		0001104659-23-067848
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20230605
DATE AS OF CHANGE:		20230605

FILER:

	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:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36485
		FILM NUMBER:		23991244

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>tm2317587d1_defa14a.htm
<DESCRIPTION>DEFA14A
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0">&nbsp;</P>



<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B>&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B>&nbsp;</P>

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

<!-- Field: Rule-Page --><DIV STYLE="margin: 0 auto; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 14A</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Proxy Statement Pursuant to Section&nbsp;14(a)&nbsp;of</B>&nbsp;</P>

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

<!-- Field: Rule-Page --><DIV STYLE="margin: 0 auto; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<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"><FONT STYLE="font-size: 10pt">Filed by the Registrant&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings">&#120;</FONT></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"><FONT STYLE="font-size: 10pt">Filed by a Party other than the Registrant&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></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">Check the appropriate box:</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="font-size: 10pt; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preliminary Proxy Statement </FONT></TD></TR>
  </TABLE>
<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="font-size: 10pt; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Confidential, for Use of the Commission Only (as permitted by Rule&nbsp;14a-6(e)(2))</B></FONT>&nbsp;</TD></TR>
  </TABLE>
<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="font-size: 10pt; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Definitive Proxy Statement </FONT></TD></TR>
  </TABLE>
<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="font-size: 10pt; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#120;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Definitive Additional Materials </FONT></TD></TR>
  </TABLE>
<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="font-size: 10pt; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Soliciting Material under &sect;240.14a-12&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARDELYX,&nbsp;INC.</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Name of Registrant as Specified In Its Charter)</B></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; text-align: center"><B>NOT APPLICABLE</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Name of Person(s)&nbsp;Filing Proxy Statement,
if other than the Registrant)</B></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">Payment of Filing Fee (Check the appropriate box):</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="font-size: 10pt; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#120;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No fee required. </FONT></TD></TR>
  </TABLE>
<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="font-size: 10pt; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fee paid previously with preliminary materials </FONT></TD></TR>
  </TABLE>
<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="font-size: 10pt; width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fee computed on table below per Exchange Act Rules&nbsp;14a-6(i)(1)&nbsp;and 0-11.&nbsp;</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; text-align: center"><B>Ardelyx,&nbsp;Inc.</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: center"><B></B></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<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: center"><B></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="tm2317587d1_defa14aimg01.jpg" ALT="">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></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; text-align: center"><B>Leading Proxy Advisory Firms ISS and Glass Lewis
Recommend Ardelyx Stockholders Vote in Favor of Proposed Share Increase</B></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; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>WALTHAM,
Mass., June&nbsp;5, 2023</B></FONT> &ndash; Ardelyx,&nbsp;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 leading
proxy advisory firms Institutional Shareholder Services Inc. (ISS) and Glass Lewis&nbsp;&amp; Co (Glass Lewis) have recommended that Ardelyx
stockholders vote &ldquo;FOR&rdquo; the Company's proposal to amend the Company&rsquo;s certificate of incorporation to increase Ardelyx&rsquo;s
authorized shares of common stock from 300 million to 500 million shares.</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; background-color: white">In the report dated May&nbsp;29, 2023,&nbsp;ISS
noted that &ldquo;A vote FOR this proposal is warranted given that the size of the proposed increase in the number of authorized shares
of common stock is reasonable and there are no substantial concerns about the company's past use of shares.&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; background-color: white">&ldquo;We are pleased that both ISS and Glass
Lewis support our proposal to increase the number of authorized shares of common stock,&rdquo; said Mike Raab, president and chief executive
officer of Ardelyx. &ldquo;While we do not currently have any plans for these additional shares, the Ardelyx Board of Directors believes
that additional authorized shares of common stock would give the Company the necessary flexibility to issue shares for various corporate
purposes, including, in particular, capital-raising or financing transactions, and enable the Company to take timely advantage of market
conditions and opportunities.&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; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company&rsquo;s upcoming Annual Meeting of Stockholders is scheduled to be held on June&nbsp;15, 2023 at 8:30am ET. Detailed information
about all the proposals can be found in Ardelyx&rsquo;s Proxy Statement, which is available to stockholders at </FONT>ir.ardelyx.com.
Using their control number, stockholders can vote at www.proxyvote.com. Stockholders can participate electronically in Ardelyx&rsquo;s
virtual Annual Meeting at www.virtualshareholdermeeting.com/ARDX2023.</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; background-color: white"><B>Your vote is important. Please submit your
proxy on the internet or by telephone before 11:59 p.m.&nbsp;ET time on June&nbsp;14, 2023.</B></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; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
stockholders have any questions or need assistance voting shares, they may contact the firm assisting the Company in solicitation of
proxies: Morrow Sodali at (203) 658-9400 or </FONT>ARDX@investor.morrowsodali.com.</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: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">&nbsp;</DIV>
    <DIV STYLE="break-before: page; 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"><B>About Ardelyx,&nbsp;Inc.</B></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"><FONT STYLE="font-family: Times New Roman, Times, Serif">Ardelyx was
founded with a mission to discover, develop and commercialize innovative, first-in-class medicines that meet significant unmet medical
needs. Ardelyx&rsquo;s first approved product,&nbsp;IBSRELA&reg; (tenapanor) is available in the United States and Canada. Ardelyx is
developing XPHOZAH&reg; (tenapanor), a novel product candidate for the control of serum phosphorus in adult patients with chronic kidney
disease (CKD) on dialysis, which has completed three successful Phase 3 trials. Ardelyx has a Phase 2 potassium lowering compound, RDX013,
for the potential treatment of elevated serum potassium, or hyperkalemia, a problem among certain patients with kidney and/or heart disease
and an early-stage program in metabolic acidosis, a serious electrolyte disorder in patients with CKD. Ardelyx has established agreements
with Kyowa Kirin in Japan, Fosun Pharma in China and Knight Therapeutics in Canada for the development and commercialization of tenapanor
in their respective territories. For more information, please visit </FONT>https://ardelyx.com/ and connect with us on Twitter, LinkedIn
and Facebook.</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>Additional Information and Where to Find It</B></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">This communication may be deemed solicitation material in respect of
the Company&rsquo;s upcoming Annual Meeting of Stockholders scheduled to be held on June&nbsp;15, 2023 to vote on, among other matters,
an amendment to the Company's Amended and Restated Certificate of Incorporation to effect an increase in the number of authorized shares
of the Company. This communication does not constitute a solicitation of any vote or approval of the proposals to be voted on at the Annual
Meeting of Stockholders. In connection with the Annual Meeting of Stockholders, the Company filed with the Securities and Exchange Commission
(the SEC) and mailed to its stockholders a proxy statement regarding the business to be conducted at the Annual Meeting of Stockholders.</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">The Company may also file other documents with the SEC regarding the
business to be conducted at the Annual Meeting of Stockholders. This communication is not a substitute for the proxy statement or any
other document that may be filed by the Company with the SEC.</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">BEFORE MAKING ANY VOTING DECISION, THE COMPANY'S STOCKHOLDERS ARE URGED
TO READ THE PROXY STATEMENT AND ANY AMENDMENTS THERETO (WHEN AVAILABLE) IN THEIR ENTIRETY AND ANY OTHER DOCUMENTS FILED OR TO BE FILED
BY THE COMPANY WITH THE SEC IN CONNECTION WITH THE BUSINESS TO BE CONDUCTED AT THE ANNUAL MEETING OF STOCKHOLDERS BEFORE MAKING ANY VOTING
OR INVESTMENT DECISION WITH RESPECT TO THE BUSINESS TO BE CONDUCTED AT THE ANNUAL MEETING OF STOCKHOLDERS BECAUSE THEY CONTAIN IMPORTANT
INFORMATION ABOUT THE BUSINESS TO BE CONDUCTED AT THE ANNUAL MEETING OF STOCKHOLDERS.</P>

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

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Stockholders may obtain a free copy of the proxy statement and other
documents the Company files with the SEC through the website maintained by the SEC at www.sec.gov. The Company makes available free of
charge on its investor relations website copies of materials it files with, or furnishes to, the SEC.</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">&nbsp;</DIV>
    <DIV STYLE="break-before: page; 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"><B>Participants in the Solicitation</B></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">The Company and its directors, executive officers and certain employees
and other persons may be deemed to be participants in the solicitation of proxies from the Company&rsquo;s stockholders in connection
with the business to be conducted at the Annual Meeting of Stockholders. Investors and security holders may obtain more detailed information
regarding the names, affiliations and interests of the Company's directors and executive officers in the definitive proxy statement filed
in connection with the Annual Meeting of Stockholders, which may be obtained free of charge from the sources indicated above. To the extent
the holdings of the Company's securities by the Company&rsquo;s directors and executive officers have changed since the amounts set forth
in the definitive proxy statement, such changes have been or will be reflected on Statements of Change in Ownership on Form&nbsp;4 filed
with the SEC.</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>Investor and Media Contacts:</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">clowie@ardelyx.com</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">Kimia Keshtbod&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">kkeshtbod@ardelyx.com</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: 4; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">&nbsp;</DIV>
    <!-- Field: /Page -->

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>tm2317587d1_defa14aimg01.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tm2317587d1_defa14aimg01.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0@)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" !: 58# 2(  A$! Q$!_\0
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M !B_Y$J/_K\C_P#06K?T_P <^&=4E$5KK%N9"<!9,Q$GVW@9K ^,7_(E1_\
M7Y'_ .@M0!'\&?\ D3;G_K^?_P! 2O1*\[^#/_(FW/\ U_/_ .@)7HE !163
MJOB;1-$;;J.IV\$F,^66R^/]T9/Z5EP_$GPC/((TUF,$]WBD0?FR@4 =514=
MO<07<"3VTT<T+C*21L&5AZ@CK4E 'SG=?\E;?_L-_P#M:OHROG.Z_P"2MO\
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MS\-K-+/P%IH0#=*K2N1W+,?Z8'X4_P"(FH2:;X%U.:)MLCH(5/\ OL%/Z$T
M>6^//B!=^(+Z73=+E>/2U8I^[)#7)Z9/^SZ#\_:UH7P>U34+9+C5+M-/5P&$
M7E^9)CW&0%_7W%0?"'18=1\337TZ;UL(PZ C@2,<*?P 8_7'I7N] 'C>J_!:
MYB@>32M46=P,B&>/83]&!(S]0/K7%ZCK6M6^BR^%]5$FVWG5U2;[\)4$;0?[
MI!_ECK7TQ7E'QHT6'['8ZVBA9A)]FD('WE(+*3],'\Z -/X,_P#(FW/_ %_/
M_P"@)47Q,\>3:(!HVE2;+Z1-TTPZPJ>@'^T?7L,>O$OP9_Y$VY_Z_G_] 2O)
M;^_@U7QI-?:D[&TFO=TQ7DB+=T'_  '@4 ;_ (9^&NL>*(1J-U<"SMIB6669
M2\DN?X@N1D>Y(S[UT=W\$AY&;+6LS ?=F@PK'Z@\#\#70)\6/"<4:QQO<JB@
M*JK;D  = *=_PMOPK_SUNO\ OP: /,-*UG7?AOXB>SN%;RU8>?:ELI*I_B4^
MN.A_ ]Q7T!I]_;ZII]O?6C[[>= Z-['U]Z\4^)/BGP]XHL[.73C,;Z"0J2\6
MW,9!R,^Q Q]375?!G4WN?#MYI[L6^R3AD!_A5QG'YAC^- 'GMU_R5M_^PW_[
M6KW3Q3HJ>(?#=[II WRQYB)_AD'*G\P/PS7A=U_R5M_^PW_[6KZ,H ^?OA=J
MC:/XXCM9V,:7:M;.K<8?JN1Z[AC\:^@:\!^)^C2:#XS_ +0MLQQWA^TQNO&V
M0'YOQSAO^!5[5X;UB/7_  ]9:FF 9XP74?PN.&'X$&@"37-5BT31+S4IL;+>
M(O@_Q-T4?B<#\:\)\ :3+XH\=)=7>9$A<WERQ_B;.0#]6(X],UUOQFU[9#9Z
M%"WS.?M$^/09"#\\G\!6]\*=!_LGPHMY*FVXU B8Y'(C'W!^66_X%0!I^./"
M$/BS1S&NU+^ %K:4^O=3['].#7D?@/Q9/X/UZ2RO]ZV,TGEW,;=87!QOQZCH
M?;Z"OH2O*OBGX'^TQR>(=-B_?(,W<2C[ZC^,>X[^W/8Y /3+J_M+/3Y+^>=$
MM8X_,:7.5V^H]?ZU\]^(=:U+X@^*HHK6)RK-Y5G;Y^ZO<GW.,D]L>@K-G\3Z
MO>^';70))V:S@?**,[F_NJ3W YP/?V&/9/AOX)'AS3_M]]&/[4N5Y!_Y8IUV
M_7U_+MR :>B>$(/#WAA=/M%26Y+QS3R,,><RL&(]AQ@>GYU-X?TN[M)EDN$=
M D90F1EW2%@G920 "A]SN)ZDD]%10 4444 %<)X\B(OK27'#1%<_0Y_K7=US
M_B_3C>Z,947,EL?,'^[_ !?X_A7!F%-U,-)+??[COR^HJ>)BWMM]YS_@1L:Q
M.OK;D_\ CR_XUJ^.XV.FVT@'RK+@_B#_ (5R.C:D=*U2*Z +(/E=1W4]?\?P
MKTZ.2RU>QRICN+>0<@C(_$=C7FX#EKX26'O9ZGI8_FH8N.(M=:?Y'D5>D>#4
M9?#T9(P&D8CW&<?TJ<>%=%$F_P"Q#/7!D;'Y9JW?W]IHU@9)-D:(N(XEP-Q[
M "M<%@986;JU9*R1EC<='%05*E%W;//?%3A_$MX5Z94?DH%=9X+OOM.CM;,<
MO;-C_@)Y']1^%<#=7$EW=2W$IR\KEC^-:_A*_P#L6N1HQQ'<#RC]3T_7C\:\
MS"8GEQG/TDW^+_X8]/%X;FP?)UBE^"_X<U_'5AS;Z@B_],I#^H_K^E<77K>K
MV(U'2KBUQEG3Y/9AR/UKR4@J2"""."#5YM1Y*W.MI?F1E-;GH\CWC^1V7@*
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M%%/#4:;O"*05,36J*TY-A11170<X4444 %%%% !1110 4444 %%%% !1110
M4444 %%%% !1110 4444 %%%% $<UO#<($GACE4'(5U##/XT0P0VZ%((HXE)
@SM10HS^%244 %%%% !1110 4444 %%%% !1110!__]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
