UPDATE 1-Ardelyx's kidney disease drug reduces elevated phosphate levels in late-stage study

Ardelyx Inc said on Tuesday its experimental drug succeeded in regulating elevated blood phosphate levels in patients with chronic kidney disease (CKD) in a late-stage study. The treatment, tenapanor, showed a greater difference in serum phosphorus levels compared to placebo, the company said. Despite treatment with phosphate binders, about 70% of CKD patients on dialysis continue to experience elevated phosphorus levels, also called hyperphosphatemia, at any point in time, the company said.