Ardelyx axes 65% of workforce with no clarity from FDA on kidney drug's future

Ardelyx doesn't know where to go from here. The FDA won't give the biopharma clarity on the prospects for its chronic kidney disease drug, so the company is going to have to say goodbye to 65% of its staff.

The company already cut about 80 jobs in August. Today's news is another 102 jobs, and the latest round of cuts will take effect by December 15, the biopharma said in an SEC filing dated Wednesday.