Stock Track | Ardelyx Soars 9.39% Intraday on Multi-Year Partnership with LPGA Tour

Stock Track02-24 22:54

Ardelyx Inc. (ARDX) experienced a significant surge of 9.39% during intraday trading on Tuesday, marking a notable upward movement for the pharmaceutical company's stock.

The price increase appears to be linked to the company's announcement of a multi-year partnership with the Ladies Professional Golf Association (LPGA). Ardelyx has been named an official corporate pharmaceutical marketing partner of the LPGA Tour. The collaboration aims to use LPGA platforms to raise awareness and reduce stigma around digestive health issues, including irritable bowel syndrome with constipation (IBS-C), for which Ardelyx markets the drug IBSRELA.

This first-of-its-kind partnership is designed to educate and mobilize patients through original digital and social content, onsite activations, and player ambassadors. Investors likely view the deal as a strategic marketing move that could enhance brand visibility and support commercial efforts for Ardelyx's products.

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