Ardelyx Inc.’s (ARDX) lead product candidate Tenapanor, proposed for the control of serum phosphorus in adult patients with chronic kidney disease on dialysis, awaits the FDA decision scheduled for July 29.Hyperphosphatemia, which refers to an elevated level of phosphate in the blood, is a nearly universal condition in more than 550,000 Americans with chronic kidney disease (CKD) on dialysis, and a major risk factor for cardiorenal morbidity and mortality.A number of phosphate binders like Renagel, Velphoro, Auryxia, and Phoslyra, to name a few are prescribed to treat hyperphosphatemia. About 2.7 million phosphate binder prescriptions are written per year in U.S.However, Tenapanor has a different mode of action in that it is a non-binder and a phosphate absorption inhibitor.If approved, Tenapanor could record peak sales of $500 million to $700 million in the U.S., according to reports.ARDX closed Wednesday’s (Jun.23, 2021) trading at $7.36, up 2.94%.