Ardelyx Inc., of Fremont, Calif., said it is reducing workforce to focus on the first-in-class drug candidate, tenapanor, in phase III development for irritable bowel syndrome with constipation and hyperphosphatemia, and RDX7675, a binder for the treatment of hyperkalemia, which is also in phase III development. The company is cutting the workforce by 28 percent, leaving 76 employees. The company said that this move along with other cost-saving activities should extend the operating runway to the end of 2018, excluding any revenues gained through partnerships. Ardelyx will incur about $0.8 million in one-time, cash-related restructuring expenses, which will be recorded predominantly in the third quarter of this year.